There is a coming bull market for oil stocks

If you thought the bull market was all made up of speculative tech stocks, cryptocurrencies, and electric car companies, then you should change your mind. By far the strongest sector in the S&P for 2021 is the energy sector. The price of crude oil has skyrocketed, helping the XLE rise 40% year-to-date. With that in mind, let's take a closer look at a few stocks related to this topic that may deserve a little more attention, including: Cimarex Energy Co (NYSE: XEC), Allied Energy Ord Shs (OTCMKTS: AGYP), and Matador Resources Co (NYSE: MTDR). Cimarex Energy Co (NYSE: XEC) is an independent oil and gas exploration and production company with nearly 620 million barrels of proven reserves and interests in approximately 2,800 productive oil and gas wells. The company's main operations are in the Permian Basin and the Mid-Continent in the United States. Cimarex Energy Co (NYSE: XEC) recently announced that Megan Hays will join Cimarex as Vice President of Investor Relations. Megan joins Cimarex from Concho Resources Inc. where she most recently served as Vice President of Investor Relations and Public Affairs. According to the press release, she has 15 years of experience in strategic communication, sustainability, corporate development and capital markets in the energy industry. Megan will report to Senior Vice President and Chief Financial Officer, Mark Burford. Mr. Burford said, "We are thrilled to have Megan join our team. She is a savvy leader with a strong network of relationships in the financial world. Megan's experience in the industry - from strategy to sustainability - makes her a great addition make our company. " And the stock has done well for the past few days, up about 4% in that time. Cimarex Energy Co (NYSE: XEC) posted revenue of $ 434.7 million in its most recent quarterly results, representing a -33.9% revenue growth. In addition, the company is facing some accounting hurdles as cash cannot keep up with short-term debt ($ 273.1 million versus $ 660.2 million). Allied Energy Ord Shs (OTCMKTS: AGYP) specializes in refurbishing and re-completing existing oil and gas wells located in thousands of mature oil and gas fields across the United States. The aim is to leverage the company's expertise and technology to achieve higher production volumes, longer well life and more efficient exploitation of the proven and available oil and gas reserves in the acquired wells. AGYP recently released a comprehensive company update that explains the company's overall strategy and which is definitely worth checking out. The strategy appears to focus on diversification and selectivity in target drilling. Allied Energy Ord Shs (OTCMKTS: AGYP) recently announced that it has signed an agreement with a leading partner in the Texas oil industry to pursue an immediate relationship regarding majority ownership of two producing oil wells in North Texas. According to the announcement, this agreement marks the final step prior to the signing of a definitive contract that Allied Energy Corp. secures 100% working interest and 80% net revenue interest in the two wells and 890.7 leased acres with the lease owners. According to CEO George Monteith, "We are planning to sign an agreement this month to acquire a controlling interest in two producing oil wells in northern Texas and are committed to securing that controlling interest in a completely non-dilutive manner. We appreciate the immediate income opportunities from current production levels of these two wells and are also confident that we can improve production through our expertise and the use of technology. " Allied Energy Ord Shs (OTCMKTS: AGYP) stocks have been in a strong uptrend for the past 2 months, rising up to 500% during that time as the company ramped up operations. Given the possible oil shortage this year, AGYP is well positioned for further gains if execution is correct.