據油價網2021年7月17日報道，此時此刻，2020年的艱難時期遠遠落后于能源行業。 去年，能源行業出現了許多過早的訃告，但在2021年，能源行業無疑將煥發出了勃勃生機。
能源行業從2020年第四季度開始大幅增長。 但這仍足以讓能源類股票在2021年上半年保持首位。
Energy Select Sector SPDR ETF (XLE)追蹤標準普爾500指數中的能源公司指數。 XLE代表來自不同子行業(如綜合、石油生產、設備服務)的大型能源公司的股票。 因此，對于保守的能源投資者來說，這是一個很好的基準。 XLE持有的最大股份包括埃克森美孚、雪佛龍、康菲、EOG資源和斯倫貝謝。
今年至今，能源領域的每個界別分組都跑贏了標準普爾500指數。
根據本文作者用來分析公司的數據提供商FactSet的數據，今年上半年，上游公司的平均漲幅為112.1%。 這些上游公司是生產和儲存石油和天然氣的公司。
一些規模最小的石油和天然氣生產商位居榜首。 今年上半年回報率至少達到300%的公司包括拉雷多石油公司(+371.0%)、環能源公司(+351.6%)、Callon石油公司(+334.4%)和SM能源公司(+302.7%)。
在FactSet歸類為“中游”的55家公司中，平均回報率為47.0%。 其中表現最好的是Summit 中游合作伙伴公司，該公司今年上半年的總回報率為143.2%。 在整個中游集團中，只有一家公司——NGL Partners LP——上半年的回報率為負(-0.8%)。
綜合石油巨頭平均上漲29.2%。 在過去幾年表現落后于其他公司的埃克森美孚公司今年上半年表現最好，總回報率達到了57.9%。
三大煉油商馬拉松石油公司、瓦萊羅公司和菲利普斯66的平均漲幅為38.8%。 馬拉松石油公司表現最好，為49.2%。
能源行業的上漲勢頭在第二季度確實有所放緩，第三季度早些時候該行業也略有回落。 該行業下半年的命運將與油價密切相關，目前油價遠高于行業預計的年中水平。
推動油價上漲的罪魁禍首仍然是美國的石油產量，目前美國的石油產量仍比新冠肺炎疫情大流行前的峰值低了100多萬桶/天。 與此同時，美國6月份對石油產品的需求幾乎回到了創紀錄水平。 正如我們一再看到的，供需之間的微小失衡可能會對油價產生巨大影響。
李峻 編譯自 油價網
原文如下：
2021 Has Been A Stellar Year For Energy Investors
The rocky times of 2020 are well behind the energy sector at this point. Last year there were many premature obituaries written for the energy sector, but it has certainly shown plenty of life in 2021.
The energy sector has soared from the last quarter of 2020. After performing as the top S&P 500 sector for two straight quarters, the energy sector slipped to third place in the recently-completed second quarter. But that was still good enough to keep energy in first place for the first half of 2021.
The Energy Select Sector SPDR ETF (XLE) tracks an index of energy companies in the S&P 500. The XLE represents the stocks of large energy companies from different sub-sectors (e.g., integrated, oil production, equipment services). It is, therefore, a good benchmark for conservative energy investors. Some of the XLE’s biggest holdings are ExxonMobil, Chevron, ConocoPhillips, EOG Resources, and Schlumberger.
Every subsector of the energy sector has outperformed the S&P 500 in 2021.
According to data provider FactSet — which I use to analyze companies — the average upstream company gained 112.1% in the first half of 2021. These are the companies that produce and store oil and gas.
Some of the smallest oil and gas producers led the pack. Companies returning at least 300% in the first half include Laredo Petroleum (+371.0%), Ring Energy (+351.6%), Callon Petroleum (+334.4%), and SM Energy (+302.7%).
Among the 55 companies that FactSet classifies as “midstream”, the average return was 47.0%. Best among the group was Summit Midstream Partners, which generated a total first half return of 143.2%. only one company in the entire midstream group — NGL Partners LP — had a negative return in the first half (-0.8%).
The integrated supermajors averaged a gain of 29.2%. After underperforming the rest of the group in recent years, the best performer in the first half was ExxonMobil with a total return of 57.9%.
The Big Three refiners — Marathon Petroleum, Valero, and Phillips 66 — gained an average of 38.8% for the half. Marathon was the best performer with a gain of 49.2%.
Momentum for the energy sector did slow in the second quarter, and the sector has pulled back a bit in the early days of the third quarter. The sector’s fate in the second half will be closely tied to oil prices, which are well ahead of where I thought they would be at the year’s midpoint.
The primary culprit driving oil prices higher remains U.S. oil production that is still down more than a million barrels per day from the pre-pandemic peak. Meanwhile, U.S. demand for petroleum products in June was almost back to record levels. As we have seen time and time again, small imbalances between supply and demand can have enormous impacts on oil prices.
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