An operator for Baker Hughes conducts a wireline survey on a Chesapeake Energy natural gas rig in the North Texas Barnett Shale near Burleson, Texas.The energy sector has been the market's laggard for years, but Goldman Sachs believes now is the time for investors to add exposure to these stocks.
"Lower supply and a bottom in demand should limit the historic oversupply and begin re-balancing the market," Goldman analysts led by Brian Singer said in a recent note. The firm believes an inflection point will be reached in June, at which point there will be a shift from building inventories to drawing inventories.
Singer also noted that the sector has held up well recently despite industry headwinds. This month energy is the top-performing S&P sector after gaining 30%. For the year, however, it's the worst-performing sector.
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