It almost seems too good to be true. Shares of hard-hit oil and gas exploration and production companies (E&Ps) Callon Petroleum (NYSE: CPE), Diamondback Energy (NASDAQ: FANG), and EOG Resources (NYSE: EOG) soared in April, according to data provided by S&P Global Market Intelligence. EOG's shares were up 32.3%, Diamondback's shares jumped 66.2%, and Callon's shares rocketed up 71.5% during the month.
But if it seems too good to be true, it probably is. Those gains did little to offset the companies' overall 2020 losses. Year to date, EOG shares are down 38.3%, Diamondback's shares are down 54.4%, and Callon's stock has fallen a jaw-dropping 83.3%. Meanwhile, the S&P 500 is only down 9.3% so far this year.
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Source: Motley Fool
(May 11, 2020 - 2:12 PM EDT)
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