Energy Stocks Outshone Peers In 2022

During the stock market’s worst year since 2008, energy stocks have greatly outperformed other assets, providing strong returns as investors piled into the sector amid political and economic turmoil.The S&P 500 Energy index, composed of the energy companies listed on the closely-followed index, has provided a 61.3% return this year including dividends.

That’s by far the best performance of any of the S&P’s 11 sectors, with the utilities and consumer staples indexes the second and third-strongest performers at comparatively meager 3.1% and 0.2% total returns, while the nine other sectors are in the red, with the communication services sector bringing up the rear with a 42% loss this year.

Spurred by a global spike in commodity prices following Russia’s invasion of Ukraine, energy companies’ “continued commitment [to] capital discipline has resulted in a strong focus towards [free cash flow] generation which companies allocated towards shareholders returns and debt reduction,” Goldman Sachs analysts led by Neil Mehta wrote in a Wednesday note to clients.

And experts expect the energy sector to continue to ride its success into next year, with Wells Fargo analyst Ian Mikkelsen writing in a recent note he sees a “favorable environment for Energy going into 2023 given it…has historically performed well during periods of broad inflation,” while Bank of America forecasted a $100 average price per barrel for international benchmark Brent Crude in 2023, roughly 20% higher than it now stands.

earlier this year thanks to high market prices but proved resilient as prices slid from their spring highs with investors’ confidence in the firms’ strong bottom lines.

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Amateur astronomers 'swipe right' to hunt dark energy and ID nearly a quarter million galaxiesRobert Lea is a science journalist in the U.K. whose articles have been published in Physics World, New Scientist, Astronomy Magazine, All About Space, Newsweek and ZME Science. He also writes about science communication for Elsevier and the European Journal of Physics. Rob holds a bachelor of science degree in physics and astronomy from the U.K.’s Open University. Follow him on Twitter sciencef1rst. Amazing spectacle 2023 the beginning of a new adventure
Source: SPACEdotcom - 🏆 92. / 67 Read more »

4 Zodiac Signs Will Feel the Emotional, Activating Energy of the Winter Solstice Most IntenselyTime to think about what you want in the year ahead, especially if you're one of the four signs most impacted by this year's winter solstice.
Source: iamwellandgood - 🏆 462. / 53 Read more »

Energy Efficiency Tips to Save Money This WinterExtreme winter weather continues to loom as New York remains in a state of emergency and areas of Western New York are impacted by a once-in-a-century blizzard. Freezing temperatures may send you running to the thermostat to bump up the heat and, consequently, bump up your energy bill. However, there are some cost-saving steps you can take to make sure…
Source: NBCNewYork - 🏆 270. / 63 Read more »

Deadly winter storm exposes deep flaws in the U.S. energy systemThe deep freeze that blanketed most of the U.S. in the past few days killed dozens of people and temporarily plunged millions into darkness. US energy infrastructure needs urgent upgrades. Global Warming ? 🐙🐙🐙🐙🐙🐙🐙
Source: latimes - 🏆 11. / 82 Read more »