Last week, I wrote that while Q1 profits were expected to be down this year and energy stock prices were higher, that didn’t mean that energy wasn’t a place to be for long-term investors. Well, the big oil companies have now reported, so does that still apply The results have been mixed in terms of how the companies performed versus expectations.
Most have actually been quite conservative in their forward guidance generally, suggesting that energy stocks overall will probably underperform the market for a while yet. The only thing that might change that is the fact that almost all of the big oil companies are deploying some stored cash in one way or another.
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