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If investing in companies that are on track for fast growth excite you, mid cap stocks that are projected to grow rapidly are right up your alley. Today, we culled a short list of oil and gas drilling stocks that are slated for growth. All of these mid cap stocks have the added advantage of receiving a rating of 'Buy' by industry analysts. Take a look to see if any meet your standards.

EPS growth (earnings per share growth) illustrates the growth of earnings per share over time. The 5-Year Expected EPS Growth Rate is a long term annual growth estimate, where the growth projections are made by analysts, the company or other credible sources.

We first looked for mid cap oil & gas drilling stocks. From here, we then looked for companies that analysts rate as "Buy" (2 < mean recommendation < 3). We then screened for businesses with projected high growth, measured by 5-year projected EPS growth above 25%.

Do you think these mid-cap stocks hold solid value? Use this list as a starting-off point for your own analysis.

1) Concho Resources, Inc. (CXO)

Sector:Basic Materials
Industry:Oil & Gas Drilling & Exploration
Market Cap:$9.11B
Beta:1.23

Concho Resources, Inc. has a Analysts' Rating of 1.90, and a 5-Year Projected Earnings Per Share Growth Rate of 56.37%. The short interest was 2.19% as of 08/02/2012. Concho Resources Inc., an independent oil and natural gas company, engages in the acquisition, exploration, and development of oil and natural gas properties in the United States. Its principal operating areas are located in the Permian Basin region of southeast New Mexico and west Texas. As of December 31, 2011, the company had estimated proved reserves of 386.

2) Kodiak Oil & Gas Corp. (KOG)

Sector:Basic Materials
Industry:Oil & Gas Drilling & Exploration
Market Cap:$2.15B
Beta:3.27

Kodiak Oil & Gas Corp. has a Analysts' Rating of 2.10, and a 5-Year Projected Earnings Per Share Growth Rate of 50.00%. The short interest was 11.47% as of 08/02/2012. Kodiak Oil & Gas Corp. engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas in the United States. The company's oil and natural gas reserves and operations are primarily concentrated in the Williston Basin of North Dakota and Montana, and the Green River Basin of Wyoming and Colorado. As of December 31, 2011, it had estimated proved reserves of 35.

3) Enerplus Corporation (ERF)

Sector:Basic Materials
Industry:Oil & Gas Drilling & Exploration
Market Cap:$2.80B
Beta:1.18

Enerplus Corporation has a Analysts' Rating of 2.50, and a 5-Year Projected Earnings Per Share Growth Rate of 29.85%. The short interest was 2.33% as of 08/02/2012. Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in United States and Canada. As of December 31, 2011, it had 322 MMBOE of proved plus probable reserves. The company also held a portfolio of approximately 380,000 net acres of land comprised of 75,000 net acres at Fort Berthold targeting the Bakken and Three Forks; 65,000 net acres in the Duvernay; 33,000 net acres in the Montney; 67,000 net acres in the Stacked Mannville; 30,000 net acres in the Cardium and other emerging oil plays in Canada; and 110,000 net acres in the Marcellus.

*Company profiles were sourced from Google Finance and Yahoo Finance. Financial data was sourced from Finviz.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 3 Fast Growth Mid Cap Oil & Gas Drillers Stocks Rated Buys