What kind of a strange world are we in when Pat Dorsey, the value biased director of stock research from Morningstar.com recommends not one but two energy stocks on FoxNews' Bull & Bears, one of which is also a recommendation of Jim Cramer (aka Reverend Jim of the Church of What's Working Now).
Both recommended Houston Exploration (THX) in the past week.
FoxNews: Bulls & Bears Recap of March 18.
Pat: I'm betting on Energy Partners (EPL), which is an oil and gas exploration firm in the Gulf of Mexico. It's building a bunch of high impact wells right now that have the potential to double or triple the company's reserves. The stock's at $22 right now and could be at $40 if these wells succeed. This has some risk, but if it succeeds, it will do extremely well. (Energy Partners closed on Friday at $22.27.)
Pat's prediction: Houston Exploration (THX) up 40 percent by next St. Patrick's Day.
thestreet.com: Mad Money Recap 03/24/2006.
Cramer was bullish on
Houston Exploration (THX:NYSE - news - research - Cramer's Take)
Note: Not all that long ago, Pat Dorsey would make statements like "Oil is going straight down" whenever the subject of energy or energy stocks came up on the show. Normally, this kind of about face by a stubborn bear is an important warning signal. [As in: who's going to buy our stocks from us if everybody's on our side?!] But in this case, we'll make a note of it and keep on the alert.