The rotation from technology stocks has investors, at long last, scouring one of the least loved corners of the market: energy producers.
Companies that drill for and refine oil and gas have badly lagged behind the broader market for the past three years. The S&P 500 Energy Index is up around 4% since the end of 2022 compared with the S&P 500 Index’s 79% surge. Range-bound oil prices that have crimped margins up and down the supply chain are largely to blame.
