Energy stocks have been on a tear, but not every name in the sector is telling the same story. Rob Spivey and Joel Litman of Altimetry Research believe the market is misreading what's driving the move, and more importantly, which stocks are positioned to benefit.
U.S. rig counts are rising for the first time in several years. After a prolonged period of decline, when domestic oil production was depressed enough that shale drilling simply wasn't profitable, energy companies are putting new rigs in the ground. Spivey and Litman argue this isn't a knee-jerk reaction to geopolitical tension. It's the acceleration of something structural that was already in motion.
