The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK (InvestorPlace) -- Oil investments have been on the rise as crude prices have skyrocketed. Unfortunately, not all oil and gas stocks are created equal. Here are seven major oil investments you should sell immediately and replace with better crude stocks if you want to profit from expensive gas prices:
Petrobras: Integrated oil and gas company Petrobras (PBR) is the first energy stock worth selling, having watched its stock price drop -12% over the past 12 months, compared to gains +11% for the Dow Jones and S&P 500 each. After regaining in the start of 2011, this stock has seen another drop of -4% in the last two weeks. Not exactly a leader among oil and gas investments.
BP: While BP (BP) may have rebounded from its terrible summer performance following the Gulf oil spill, this stock is still down -20% in the last year. More recently, BP stock has sunk another -2% in the last 30 days. Analysts are projecting earnings to be 19 cents lower than the EPS posted this quarter last year, making it stand out as a lackluster oil and gas stock.
ENI S.p.A.: Since the middle of February, ENI S.p.A. (E) has watched its stock value diminish -4%, much like other stocks on this list. As consumers start switching off their heaters from this winter, the stock price of this oil, gas and power generation company should continue to trend down.
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