Oil's free-fall hasn't been kind to offshore or onshore drillers. A quick look at the Energy Select Sector SPDR (XLE) is evidence of weakness in the industry.
Chart courtesy of StockCharts.com
Since the summer of last year, oil has fallen from over $100 per barrel down to to less than $45 per barrel. For the past few weeks though, oil has been on an uptrend. It now stands at around $56 per barrel and investors are clamoring to get back into the very stocks that were sold off over the past several months. Continue reading "Don't Underestimate This Oil and Gas Driller"→
The Energy Report: How do you choose the energy names in your coverage list?
Mike Breard: I look for managers with great track records. For example, I attended the annual meeting of Matador Resources Co. (MTDR:NYSE), and there were 150 people there. Normally, only maybe 20 people attend the annual meetings of the junior energy companies, but these folks had been investing with the current managers of Matador in private deals for 30 years. They were so eager to get in on the newest venture of these guys that Matador stock has tripled during the past year.