- The S&P 500 Energy Index (NYSEARCA:XLE) finishes as the top sector performer for 2021, surging more than 47% after dragging along the bottom a year earlier with a 37% loss.
- It's the logical result of front-month WTI crude oil (CL1:COM) delivering its strongest showing since 2009, rallying 55% to end the year at $75.21/bbl; over the past seven quarters, the U.S. benchmark has soared 267%.
- WTI crude climbed 1.9% for the week and 13.7% in December, despite settling 2.3% lower on the final trading day of the year.
- Oil and natural gas "are going to be pretty critical elements for global economic growth into the future... and investors are finally recognizing that," says TortoiseEcofin senior portfolio manager Rob Thummel.
- ETFs: XLE, XOP, VDE, OIH, FENY, FCG, IXC, CNRG, XES, IYE
- Devon Energy (NYSE:DVN) was the S&P's top performing stock for the year with a 173% gain; Marathon Oil (NYSE:MRO) was not far behind, returning 140%.
- Devon management remains focused on maximizing free cash flow and shareholder returns, Truist analyst Neal Dingmann wrote in a note this week, "confident in the company's 20%+ FCF yield next year, which is likely to continue to bring more investors into the name."
- The 20 top gainers in energy and natural resources for 2021 were VTNR +536.4%, AMR +436.9%, UAN +416.1%, SM +381.7%, METC +372.2%, WFRD +362%, SGML +342.9%, SLI +338.9%, CLMT +321.7%, BTU +317.8%, SBOW +309.9%, CDEV +298.6%, SPLP +290.7%, GSM +278.6%, CPE +259%, TMST +253.3%, REI +245.5%, NRT +244%, OAS +239.9%, ERF +238%.
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