据油价网2021年7月17日报道，此时此刻，2020年的艰难时期远远落后于能源行业。 去年，能源行业出现了许多过早的讣告，但在2021年，能源行业无疑将焕发出了勃勃生机。
能源行业从2020年第四季度开始大幅增长。 但这仍足以让能源类股票在2021年上半年保持首位。
Energy Select Sector SPDR ETF (XLE)追踪标准普尔500指数中的能源公司指数。 XLE代表来自不同子行业(如综合、石油生产、设备服务)的大型能源公司的股票。 因此，对于保守的能源投资者来说，这是一个很好的基准。 XLE持有的最大股份包括埃克森美孚、雪佛龙、康菲、EOG资源和斯伦贝谢。
今年至今，能源领域的每个界别分组都跑赢了标准普尔500指数。
根据本文作者用来分析公司的数据提供商FactSet的数据，今年上半年，上游公司的平均涨幅为112.1%。 这些上游公司是生产和储存石油和天然气的公司。
一些规模最小的石油和天然气生产商位居榜首。 今年上半年回报率至少达到300%的公司包括拉雷多石油公司(+371.0%)、环能源公司(+351.6%)、Callon石油公司(+334.4%)和SM能源公司(+302.7%)。
在FactSet归类为“中游”的55家公司中，平均回报率为47.0%。 其中表现最好的是Summit 中游合作伙伴公司，该公司今年上半年的总回报率为143.2%。 在整个中游集团中，只有一家公司——NGL Partners LP——上半年的回报率为负(-0.8%)。
综合石油巨头平均上涨29.2%。 在过去几年表现落后于其他公司的埃克森美孚公司今年上半年表现最好，总回报率达到了57.9%。
三大炼油商马拉松石油公司、瓦莱罗公司和菲利普斯66的平均涨幅为38.8%。 马拉松石油公司表现最好，为49.2%。
能源行业的上涨势头在第二季度确实有所放缓，第三季度早些时候该行业也略有回落。 该行业下半年的命运将与油价密切相关，目前油价远高于行业预计的年中水平。
推动油价上涨的罪魁祸首仍然是美国的石油产量，目前美国的石油产量仍比新冠肺炎疫情大流行前的峰值低了100多万桶/天。 与此同时，美国6月份对石油产品的需求几乎回到了创纪录水平。 正如我们一再看到的，供需之间的微小失衡可能会对油价产生巨大影响。
李峻 编译自 油价网
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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