When it comes to energy stocks, most people are familiar with names like ExxonMobil (XOM) and Chevron (CVX). But there are quite a few small-cap names in the energy space too. MDB Capital Holdings President and Chief Market Strategist Lou Basenese shares one name he likes and one he would avoid in the latest Good Buy or Goodbye.
Basenese likes Prairie Operating Co.(PROP) because of the strong domestic demand for fossil fuels. He also likes how the company wants to grow through acquisitions, saying it "has this unique strategy where they want to acquire assets that have been neglected but that are adjacent to the major producers… I think it’s a smart, low-risk strategy." Plus, he thinks the stock is cheap and the company is debt-free.
One stock Basenese is avoiding is Gran Tierra Energy (GTE) which he thinks has a riskier balance sheet and assets. Basenese also believes the stock is overvalued. Overall, he says Gran Tierra "was a great play this year, but I don’t think it’s going to continue to be a great play heading into the remainder of this year and into 2025."
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