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In the second quarter, average revenues from the energy sector grew 93.9% year-over-year, with oil and gas production industry revenues registering 137.3% growth year-over-year. Investors’ optimism about the industry is evident in the Energy Select Sector SPDR Fund’s (XLE (NYSE:XLE)) 67.2% gains over the past year versus SPDR S&P 500 ETF Trust (SPY) 37.4% returns.
Given the industry’s strong growth prospects, Wall Street analysts expect energy stocks Tellurian Inc. (TELL) and NextDecade Corporation (NEXT), which are currently trading at less than $10, to rally more than 75% in price in the near term.
