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Quarter-End Insights

Energy: Stocks, Oil Prices Have Rebounded, but Some Opportunities Remain

We see less value in oil stocks than we did earlier this year.

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The Morningstar Global Energy Index has rebounded along with broader equity markets since the beginning of 2019. The Energy Index is up 14% year to date through March 25 compared with an 11% gain in the Morningstar Global Equity Index. Rising oil prices, up roughly 29% since the end of 2018 have fueled the strength in energy stocks.

Global energy index vs. global equity index - source: Morningstar Analysts

Jeffrey Stafford has a position in the following securities mentioned above: SLB. Find out about Morningstar’s editorial policies.