Energy was the best performing sector in the first quarter, rising more than 37%, but there might still be room for the stocks to run even if the price of crude doesn't make new highs. Lauren Goodwin, economist and director of portfolio strategy at New York Life Investments, said that oil prices should still be volatile in the months ahead, but investors shouldn't shy away from energy stocks.
"For many investors, exposure to the energy sector as a whole could make sense because, as we saw in the 2014-2015 oil crisis, upstream and downstream energy companies can be profitable above $55 per barrel," she said. "So even if we do see price volatility day to day … those companies still print reliable revenues for investors." |
