Baker Hughes Incorporated (NYSE:BHI) stock is surging following the company’s announcement of a merger with General Electric Company‘s (NYSE:GE) oil and gas segment. But owners of oil stocks have been hearing about a potential tsunami of buyout activity in the space ever since the price of crude oil bounced off of the $26 level back in February.
Now that GE and BHI have reached a deal, BHI stock is off the market. But the deal could signal the beginning of the consolidation wave of the U.S. oil downturn.
Potential buyers may begin feeling the heat to pursue their favorite targets before they disappear as well. Oil majors have plenty of cash on hand for deals. Now that it appears as if the bottom is in for the oil market, some promising targets are on sale for cheap.
Here are three oil stocks that could be the next takeover targets.
Buyout Target Oil Stocks: Whiting Petroleum (WLL)
Market Capitalization: $2.36 billion
When it comes to oil stocks that are on sale, Whiting Petroleum Corp (NYSE:WLL) is…
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