- Energy stocks just wrapped up their strongest week of 2017 to cap a four-week winning streak, and CNBC reports some portfolio managers think the rally could have more room to run.
- While U.S. crude oil is ~7% lower this year, the Energy Select Sector ETF (NYSEARCA:XLE) has fallen 12.6%, a fairly large spread that Tortoise Capital's Rob Thummel thinks could mean some catching up is ahead; he notes some of the week's biggest winners were some of the year's biggest losers: RRC -46% YTD, CHK -43%, HP -35%, NFX -33%, APA -33%.
- The end of this year is starting to look like the final months of 2016, when a weak energy sector surged to become the top performer of the S&P 500, says Tamar Essner of Nasdaq Corporate Solutions.
- SunTrust's Neal Dingmann notes short interest in the E&P industry is at its highest since late 2015, with JONE and SN currently more than 30% short.
- Fundamentals also look promising, says Jay Hatfield of Infrastructure Capital Advisors: economic growth is boosting energy demand; a weaker dollar makes dollar-denominated oil more affordable; and the price gap between Brent crude and WTI has widened, which encourages U.S. oil exports.
- ETFs: XLE, VDE, ERX, XOP, OIH, GASL, FCG, ERY, DIG, BGR, XES, FENY, DUG, IYE, GUSH, IEO, DRIP, FIF, IEZ, GASX, PXE, NDP, RYE, PXJ, PSCE, FXN, CRAK
- Now read: Daily Insider Ratings Round Up 9/13/17: SJM, RDUS, HP, SPKE, EXA, CAPL, REG, NWL, NXEO, BWINB
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This week's rally in energy stocks could keep going, analysts say
Published 09/16/2017, 08:25 AM
This week's rally in energy stocks could keep going, analysts say
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