In what has been a brutal year for energy stocks, some energy sub-industries have been notably worse than the broader group, which is heavily tilted toward integrated oil names. For example, exploration and production and oil services stocks have performed notably worse than integrated oil names and refiners.
Making matters worse is volatility. As in oil services, ETFs are more volatile than traditional, diversified energy sector ETFs. This year, oil services ETFs, such as the Market Vectors Oil Services ETF (NYSE: OIH) and the iShares U.S. Oil Equipment & Services ETF (NYSE: IEZ), have been noticeably more volatile than broader energy sector ETFs, such as the Energy Select Sector SPDR (NYSE: XLE).
Even with energy equities mired in a slump and heading for another year of lagging the S&P 500, contracting earnings mean the sector ...
/www.benzinga.com/trading-ideas/long-ideas/15/12/6063840/searching-for-value-in-the-oil-patch alt=Searching For Value In The Oil Patch>Full story available on Benzinga.com
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