December bump in oil prices not enough to salvage U.S. energy earnings

This translation has been automatically generated and has not been verified for accuracy.Investors hoping a late-2019 rise in oil prices will buoy energy stocks are likely to be disappointed when a raft of companies report results in coming weeks.

The relationship between energy stocks and oil prices has been weak over the last few decades: the 90-day correlation between the Select Sector Energy ETF and WTI crude going back to 1999 stands at 0.49, according to DataTrek Research. Many oil companies are unlikely to fully benefit from the oil price bump because they had curtailed production, said Stewart Glickman, energy analyst at CFRA in New York.

Some analysts believe underperformance has made the sector attractively valued. The sector is “cheap on cash flow, cheap on dividend yield, it is cheap on book value,” said Stephen Massocca, Senior Vice President at Wedbush Securities in San Francisco.

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Current U.S. earnings season points to growth, defying expectationsCurrent U.S. earnings season points to growth, defying expectations GlobeInvestor globeinvestor And Canada is in rapid decline wonder why? High taxes and a crushing carbon tax plus insanely high interest rates and NO pipelines which equals NO investor confidence...Trudeau has destroyed the economy globeinvestor Amazing what happens when you elect a billionaire business man who is a nationalist, instead of a substitute drama teacher who is a globalist.
ソース: globeandmail - 🏆 5. / 92 続きを読む »

Premarket: World markets look past virus concerns, focus on earningsPremarket: World markets look past virus concerns, focus on earnings GlobeInvestor
ソース: globeandmail - 🏆 5. / 92 続きを読む »