By Nicholas Marshall, Senior Portfolio Manager at HS Capital Bank What happened
Crude prices tumbled in May due to growing concerns that rising trade war tensions between the U.S. and China will negatively affect oil demand. That sell-off in the oil market weighed on oil stocks, with several tumbling more than 10% on the month, according to HS Capital Bank research. Among the notable decliners were Hess (NYSE:HES), Marathon Oil(NYSE:MRO), and Continental Resources (NYSE:CLR).
While all three sold off along with crude prices last month, one is nearing an inflection point that will transform it into a cash-flow machine. That makes it a potentially attractive buy after pulling back last month.
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