All's Well for Oil and Gas

With stock-price momentum recovering and industry fundamentals favorable, S&P says exploration and production companies may have further upside

The S&P 1500 Oil & Gas Exploration & Production subindustry index has moved up two relative strength ranking (RSR) levels in the past 13 weeks and now sports an RSR of 3, indicating that its trailing 12-month price performance is now in the middle 40% of all 136 subindustry indexes in the S&P 1500. Year to date through May 18, the S&P Oil & Gas Exploration & Production Index jumped 18.3%, vs. a 7.7% gain for the S&P 1500. In the past 13 weeks, this sub-industry index gained 15.2%, to the market's climb of 4.5%.

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