For years, searching for potentially rewarding oil and gas stocks during the ongoing energy crisis has pretty much felt like dumpster diving. The energy sector has been deeply out of favor over the past few years, with the Covid-19 pandemic only serving to make an already bad situation much worse.
But the worst appears to be in the rearview mirror as the energy sector continues to stage an impressive rebound as the global economy recovers from the ravages of the pandemic.
The energy sector is just coming off a bumper earnings season whereby it posted the biggest earnings beat of all 11 sectors of the U.S. economy.
With impressive bottom-line growth, many top energy names are returning more capital to shareholders in the form of share buybacks and dividends. Companies usually repurchase shares when they believe they are undervalued, a big positive for oil and gas bulls.
Meanwhile, Crude oil futures have rallied to their highest finish in months, with WTI price climbing above $65 for the first time in two months after OPEC+ stuck with plans to gradually ease production curbs, signaling confidence in the demand outlook.
With summertime fast approaching, here are 3 energy picks, with two being natural gas/LNG stocks bearing in mind that natural gas demand in the United States peaks in the wintertime, with a lesser peak during the summer.
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Source: Oil Price