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  • Roger S. Conrad

Benchmark North American oil prices are back over $70 per barrel. That’s a level few outside of our Energy and Income Advisor investment community expected at the beginning of 2021. Natural gas, meanwhile, has pushed to its highest price since December 2018, well over $4 per million British Thermal Units.

Energy stocks, however, remain largely unloved. In fact, the S&P Energy Index is still 11 percent below its late June high, before the combination of profit-taking, concerns about a new coronavirus wave and OPEC+ output increases took the wind out of its sails.

Energy stocks’ underperformance of the commodities demonstrates once again the lack of investor conviction in the staying power of the sector rally that began in early November 2020. In fact, the S&P Energy Index currently trades almost 20 percent lower than it did in early January 2020 prior to pandemic, when benchmark oil sold for $10 a barrel less than it does now and gas was almost $2 lower.

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    Elliott and Roger on Jul. 29, 2021

  • Portfolios & Ratings

    • Model Portfolios

      Balanced portfolios of energy stocks for aggressive and conservative investors.

    • Producers and Drillers

      Our take on more than 50 energy-related equities, from upstream to downstream and everything in between.

    • MLPs and Midstream

      Our assessment of every energy-related master limited partnership.

    • International Coverage

      Roger Conrad’s coverage of more than 70 dividend-paying energy names.

    Experts

    • Elliott H. Gue

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor

    • Roger S. Conrad

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor