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  • Roger S. Conrad

The Cycle Broadens

By Elliott H. Gue on Nov. 11, 2021

All 21 energy stocks in the S&P 500 have reported quarterly earnings, beating aggregate earnings expectations by more than 14%, the second highest of any sector in the S&P 500.

Overall, energy stocks have tended to sell off around 1.6% on average in the five trading days following their release. Nonetheless, that looks like little more than a minor bout of profit-taking when you consider energy remains the top-performing groupmind the S&P 500 on a trailing 12-month, year-to-date and even quarter-to-date basis.

As we’ve written before in Energy & Income Advisor, the producers tend to lead in the early stages of a new energy upcycle with the rally then broadening out to include other groups like services and refiners. We see clear evidence in Q3 results that we’re reaching that inflection point for several key groups.

In the portfolio update this week, we take a deep dive into results and key trends for 7 model portfolio recommendations across 4 key energy sub-sectors. And, in this week’s feature we look at two names – a producer reaching a key inflation point and an overlooked services and LNG play – that caught out eye this quarter as potential new additions to the model portfolio.

Energy & Income Advisor

Your complete guide to energy investing, from growth stocks to high-yielders.

In October 2012, renowned energy expert Elliott Gue launched the Energy & Income Advisor, a twice-monthly investment advisory that's dedicated to unearthing the most profitable opportunities in the sector, from growth stocks to high-yielding utilities, royalty trusts and master limited partnerships.

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  • 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.


    • 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