NEW YORK ( TheStreet) -- CNOOC (CEO), Petroleo Brasileiro (PBR - Get Report), Royal Dutch Shell (RDS/A), Total (TOT - Get Report), Eni (E), Sinopec (SNP - Get Report), BP (BP - Get Report), LDK Solar (LDK), JA Solar Holdings (JASO - Get Report), ReneSola (SOL - Get Report) are among the energy stocks trading with good discounts to the market.
The unrest engulfing the Middle East and North Africa have supported the current upswing in crude oil prices. Going ahead, we expect energy stocks to outperform the broader markets on improving macro-economic fundamentals. Year-to-date, the S&P 500 Index gained 6.0%, while the S&P 500 Energy Index surged 16.8%.
In the current market environment of volatile oil prices, the following 10 energy stocks are trading at deep discounts. These stocks are selling at an average forward price-to-earnings ratio of less than 8, while the S&P 500 index is trading at a P/E ratio of 16.2.
The following 10 energy stocks are expected to gain up to 53% over the next 12 months, according to analysts polled by Bloomberg.