At the lows last Wednesday, the average stock in the S&P 1500 was down 14.8% year-to-date. Since those lows, the average stock in the index has jumped 7.1%. While most sectors have seen their stocks bounce 5-8% off the lows, the Energy sector is where the biggest bounce has occurred. And that’s because those stocks suffered the biggest losses prior to the bounce. As shown below, the average Energy stock was already down 30.7% in 2016 at the lows on Wednesday. Since then, the average Energy stock has rallied a massive 22.1%.
Below is a table showing the stocks that have bounced the most off their low prices last Wednesday. As shown, WPX Energy (WPX), Bonanza Creek Energy (BCEI) and California Resources (CRC) are all up more than 70%! Two more Energy stocks — Bill Barrett (BBG) and Denbury Resources (DNR) — are up more than 60%.
Twenty-nine of the 35 stocks that have bounced the most off their lows are in the Energy sector. Some of the non-Energy stocks on the list include LSB Industries (LXU), Encore Capital (ECPG), Synaptics (SYNA), Depomed (DEPO), and Flotek Industries (FTK).