Oil rose on Thursday, extending a rally of nearly 3% in the previous session, as U.S. crude exports hit record highs.
Here 3 some lesser-known oil and gas stocks that are set to benefit from the current market environment and are also quite popular with hedge funds.Houston, Texas-based is an oil exploration infrastructure firm that operates in the U.S. oil and gas fracturing segment. A total of 30 hedge funds have NEX stock in their portfolios.on Tuesday, with Revenue of $896M good for 127.9% Y/Y growth and net income of $104.7 million a huge improvement from net loss of $44.
“There are clear recessionary signals in the broader economy. And this brings obvious fears to some that near-term oil demand will succumb to macro pressures. An industry slowdown is not our base case. And given the extreme tightness that currently exists in frac even in a recession, we would expect relatively favorable U.S. frac supply demand dynamics in 2023.
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