Oil stocks should be popular like semis, but no one cares: VanEck CEO
From CNBC:
Investors are advised to put money into lagging energy stocks, with VanEck CEO Jan van Eck stating that oil companies offer strong cash flow and are trading at double-digit cash flow yields, including large companies like Schlumberger, Halliburton, and Baker Hughes. The VanEck Oil Services ETF is down 7% this year, while the S&P 500 is up over 5%.
Despite underperforming, energy stocks are showing signs of potential turnaround, as indicated by Strategas’ Todd Sohn. With WTI crude experiencing its best weekly performance since September, climbing 6% to $76.84 a barrel, some investors may consider rotating into energy or health care stocks if the tech sector takes a hit.
Read more: Oil stocks should be popular like semis, but no one cares: VanEck CEO