US E&P firms shone as energy stocks made big gains in 2000

01/29/2001
Energy company stocks achieved a median total return of 48% in 2000, and a fourth of the issues doubled in price, according to John S. Herold Inc., Norwalk, Conn.In a report released earlier this month, the analyst said that all but 1 of the 15 energy stock groups it tracks outperformed the Dow Jones industrials in a year when technology stocks were devastated and the broad market suffered its first decline in a decade.Art Smith, Herold's chairman and CEO, said, "The price recovery that began in 1999 has enabled many companies to adopt more-aggressive exploration and capital spending strategies, particularly aimed at finding and developing US natural gas reserves."The market has recog...
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