“Want to get in on hot energy stocks? Wall Street favors these 20 picks for gains up to 40%”
June 2, 2021
“Energy recovery has a long way to go
The S&P 500 energy sector SP500.10, 1.09% was up 36% for 2021 through the end of May. (All price changes in this article exclude dividends.) That’s the best sector performance in the benchmark index so far this year.
Stretching out the timeline paints a different story:
If we look at price changes from the end of 2019 — before the coronavirus pandemic hurt demand for West Texas crude oil CL00, 0.81% so badly that forward-month futures contracts dipped momentarily in the red — the energy sector is the only one not showing a significant gain.
The long-term figures are even worse, underscoring how shares of energy producers haven’t yet returned to their levels before the great oil-price crash that began during the summer of 2014…”