Oil Industry Crash Leaves Wall Street Playing Catchup
- 20 of 40 S&P 500 energy stocks lagging analyst targets
- Consol, Marathon Oil, Range posting biggest gaps to forecasts
Oil's Summer of Suffering Leads Commodities Rout
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Bad news is pouring down on the U.S. oil industry so quickly that analysts can’t keep up.
Half of the oil explorers, rig owners, refiners and pipeline operators in the Standard & Poor’s 500 Index are at least 40 percent below the target prices set by analysts, double the number of a month ago, according to data compiled by Bloomberg. When the rout in crude markets began in June 2014, there were no companies in the group lagging their targets by that margin and one in four was actually higher than analysts were forecasting.