Though the present Russia-Ukraine issue has heightened tensions, not everyone is pessimistic. According to BMO Capital Markets’ Brian Belski, the S&P 500 index will increase to 5,300 by the end of the year. Furthermore, Belski does not believe a recession is imminent.
In addition, the United States’ economy grew at the fastest rate in over four decades in 2021, thanks to the government investing roughly $6 trillion towards pandemic-related relief. In 2021, the US GDP (Gross Domestic Product) increased by 5.7%. Job growth in January also surpassed estimates, indicating the underlying economy’s strength.
There are stocks in today’s marketplace that are considered “momentum” stocks in that they’ve been – and continue to be – headed in a positive direction. They are exciting the analysts, and so as investors, we shouldn’t hesitate to exercise a little excitement ourselves. Certain stocks still deserve a fair shake despite the marketplace’s current volatility.
Let’s look at three stocks that are buy-rated, cheap, performing well, and are considered by the experts to be wise picks for our portfolios:
TransGlobe Energy Corporation (TGA)
TransGlobe Energy (TGA) and its subsidiaries buy, explore, produce, and develop crude oil and natural gas in Egypt and Canada. In Egypt’s West Gharib, North-West Gharib, West Bakr, and South Ghalazat, it has 100% of the operating interests in Production Sharing Concessions (PSCs). TGA also has a working interest in the Cardium and Ellerslie formations in Western Canada’s Harmattan region. TGA is based in Calgary, Alberta, Canada.
TGA‘s sales climbed 243.3% year-over-year to $57.87 million in the fiscal third quarter ending September 30th. Net earnings were $37.08 million, up 722%, and EPS (Earnings per share) were $0.51, up 737.5%, both significantly higher than their negative year-ago levels. TGA also displayed healthy profit margin growth of 280%. For fiscal 2022, TGA’s average EPS projection of $0.70 represents a 363.2% year-over-year growth. Similarly, the consensus revenue projection for the same year, $146.62 million, is a 0.6% increase over the previous year. The consensus price target for TGA from the analysts that provide 12-month price projections is 5.00. This forecast indicates a 55.67% increase over its current price, and the consensus is to buy stock in TGA.
Obsidian Energy Ltd (OBE)
In mainly Western Canada, Obsidian Energy Ltd (OBE) discovers, produces, and develops oil and natural gas assets. OBE is based in Calgary, Alberta, Canada. On January 31st, 2022, the company’s common shares were moved to the NYSE American stock market. On January 18th, OBE stated that its syndicated credit facility had been reconfirmed, with no adjustments to the revolving duration. The structure should provide a steady supply of capital, operating liquidity, and a long-term positive overall business profile.
OBE‘s production sales climbed 65.1 % year-over-year to CAD124.50 million ($97.58 million) in the third quarter ending September 30th. Net income and comprehensive income were CAD46.60 million ($36.52 million), with net earnings per share of CAD0.60, which was much higher than the previous year’s negative figures. To give you an idea of how much higher, OBE’s net income grew by 1,556%, its EPS grew by 1,600%, with a profit margin growth of 1,035%. It would seem that OBE has been making the right moves. OBE has a consensus price goal of 8.24 among analysts that provide 12-month price estimates, with a high of 8.66 and a low of 3.92. The forecast reflects an increase of 10.42% over its most recent price, and experts agree on OBE’s buy rating.
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BCB Bancorp Inc (BCBP)
BCB Bancorp Inc (BCBP) is a bank holding company for BCB Community Bank, which offers banking services to both businesses and people across the country. The firm offers savings and club accounts and interest and non-interest-bearing demand accounts. They also provide commercial and multi-family real estate loans.
BCBP’s financials are as solid as they come. The $0.50 average EPS projection for the fiscal quarter ending March 2022 is a 25% increase year-over-year. Similarly, the consensus revenue estimate of $26.32 million for the same month is an increase of 8.4% over the prior-year period. Furthermore, BCBP has a strong track record of above-consensus earnings projections, having done so in each of the previous four quarters. Year-over-year growth is also evident in BCBP’s net income (+47.31%) and profit margin (+25.97%). BCBP currently pays a dividend yield of 3.47%, with 16 cents per share quarterly payouts. The consensus price target for BCBP from analysts that provide 12-month predictions is 18.00, with a high of 20.00 and a low of 18.00. The forecast is down a modest 2.49% from the latest price, but that should not be a deterrent. Experts still agree that prospecting investors should buy and hold stock in BCBP.
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