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Are BP, ExxonMobil and BG Group oversold?

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BP, ExxonMobil and BG Group shares could be going cheap, at least that's the conclusion of research by Morningstar. As crude prices have tumbled, so have the share prices of many oil companies. But has that sell-off been overdone?
Morningstar's Kathy Cook says for investors looking at this area, integrated oils are one of the areas that offers more protection in such a sliding market scenario. They've typically got stronger balance sheets and more downstream assets and that's why she's favouring these oil giants, even if crude prices fall even further.