Market sentiment.It seems that the market sentiment for SGY and the oil sector is improving. Still, the share price of the oil producers is not reflecting the current oil prices and corresponding cash flow.
As the oil prices continue to stay above $60 there will be more interest and inflow of money in the oil sector. A large number of institutional investors are on the sidelines and underweight the oil sector, the money will eventually in oil because of the following reasons
Economies are opening up and the oil demand is going to increase, especially when the airlines start to fly.
OPEC is not going to glut the market. US production has dropped and is not coming back soon.
Trillions of US dollars are being injected into the system that is causing US $ to devalue aginst all commodities. Commodities are entering a suppercylce.
Because of inflation tech stock will take a hit and the rotation will take place into commodities including oil. Some tech and other growth stocks with poor fundamentals ( burning cash ) have inflated share prices while oil stock with WTI $60 are undervalued. Oil stock valuations will catch up it is a matter of time.