Amid Dearth Of Value, European Oil & Gas Looks Cheap

With value outperforming in 2013 and unrealized profits baked into a lot of current valuation levels, it’s getting difficult to find attractive stocks, but Societe Generale equity analyst Irene Himona thinks there are still value plays to be made, at least in the short term, and that investors should take a second look at the oil and gas sector in particular.

Oil, along with metals & minerals and utilities, are currently the cheapest sectors in Europe compared to their historical valuations, but oil is also cheap judging by its price to net book value ratio.