Oil companies are earning record profits. But a lot of them are beginning to see their lack of long-term investment in new resources come to roost. And after nearly a decade, the money is flowing back to offshore oil. In this video, Motley Fool contributors Jason Hall and Tyler Crowe explain what's happened, and why that makes Transocean (NYSE: RIG), Noble Energy (NYSE: NE), and Valaris (NYSE: VAL) extremely compelling buys right now.
*Stock prices used were from the afternoon of June 1, 2023. The video was published on June 11, 2023.
10 stocks we like better than Transocean
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Transocean wasn't one of them! That's right -- they think these 10 stocks are even better buys.
*Stock Advisor returns as of June 5, 2023
Jason Hall has positions in Noble Plc and Valaris. Tyler Crowe has positions in Noble Plc and Transocean. The Motley Fool recommends Noble Plc and Transocean and recommends the following options: long January 2025 $1 calls on Transocean. The Motley Fool has a disclosure policy. Jason Hall is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
