USO - 4 Oil Stocks to Avoid in June
If you've been looking for value in the stock market lately, you may have been having some trouble. Now that June is upon us, lots of top stocks have already rebounded from their March lows.
But in the oil sector, plenty of stocks' prices have been cut in half since the beginning of the year...or worse. The price of oil seems to be trending upward; maybe this is a buying opportunity.
Bargain shoppers, beware! Even though oil prices are indeed higher than they have been in months, that isn't necessarily going to make winners out of oil stocks. Four stocks in particular to avoid in June are Halliburton (NYSE: HAL), United States Oil Fund (NYSEMKT: USO), Occidental Petroleum (NYSE: OXY), and Patterson-UTI Energy (NASDAQ: PTEN).