Energy stocks have risen significantly this year, driven by strong oil prices. The S&P Energy Select Sector Index is up nearly 33% year to date compared to the broader index’s nearly 6% rise. However, some energy stocks have risen far more than their sector peers. Here are three such stocks that have already more than doubled this year. Let’s see if they can continue generating such returns for the rest of the year and beyond.
SM Energy (NYSE: SM) is a small, independent oil and gas producer with a market capitalization of $1.9 billion. At the end of 2020, the company had 405 million barrels of oil equivalent in proved reserves. SM Energy’s production in 2020 averaged 127,000 oil-equivalent barrels per day.