One side of the market that has been booming recently is the energy sector.
This is particularly the case in the oil and uranium industries. Oil prices recently hit US$90 a barrel and uranium prices are at multi-year highs.
In light of this, unsurprisingly many investors are looking for exposure to this side of the market.
But which ASX 200 energy stocks could be in the buy zone at the moment? Two that analysts are feeling very bullish about are listed below. Here's what you need to know about them:
Boss Energy Ltd (ASX: BOE)
Investors who are looking for exposure to the roaring uranium industry might want to look at Boss Energy. Especially now the company's Honeymoon project is just days away from filling its first drum of uranium. This means the ASX 200 energy stock will soon be able to take advantage of the sky-high prices for the chemical element.
Bell Potter is feeling very positive about the company. Its analysts note that "uranium fundamentals continue to support our thesis being 1) advancement in Nuclear energy across the globe (60 reactors currently under construction) filtering through to a growing demand for U3O8 and 2) a lack of near-term supply as producers exited the market post Fukushima."
The broker recently upgraded its shares to a buy rating with a price target of $6.34. Based on the latest Boss Energy share price of $5.03, this implies a potential upside of 26% for investors over the next 12 months.
Woodside Energy Group Ltd (ASX: WDS)
If you'd prefer to gain exposure to the rebounding oil market, then Woodside could be an ASX 200 energy stock to buy.
Following its recent merger with the petroleum operations of BHP Group Ltd (ASX: BHP), it is one of the world's largest energy companies. It owns a portfolio of high-quality operations and projects spanning the globe.
This includes Pluto LNG, which is one of the world's most technologically advanced LNG production facilities, and the Shenzi conventional oil and gas field in the Gulf of Mexico.
Morgans is a fan of Woodside and feels its shares are good value at current levels. Its analysts recently noted that they "see now as a good time to add to positions."
In addition, the broker expects some attractive dividend yields from its shares. The broker is forecasting fully franked dividends of $1.36 per share in FY 2024 and $1.12 per share in FY 2025. Based on the current Woodside share price of $30.20, this equates to 4.5% and 3.7% dividend yields, respectively.
The broker currently has an add rating and a $34.20 price target on its shares. This suggests a potential upside of 13% for investors.
