A Look At Sandridge Energy's 40% 3-Day Return, Spotting Sub-Industry Trends

Sandridge Energy Inc.’s SD stock was up 17 percent on Tuesday and almost 40 percent since last Friday.

With no major events having recently taken place within the company, many believe that the spike can be attributed to recuperating oil prices (WTI crude was up 4.8 percent on Tuesday to $51.95, while Brent crude was up 3.65 percent to $56.75).

The general energy sector was up about 3.4 percent on Tuesday, versus 1 percent for the S&P 500. Moreover, the E&P sub-industry, to which Sandridge belongs, gained almost 6 percent.

Amongst the top gainers in this sub-industry, SM Energy Co SM (up 20 percent), and Penn West Petroleum Ltd (USA) PWE, an on-shore Canadian E&P company that is up more than 24 percent.

The renewable energy industry is also one of this week’s big winners, with its stocks having inched almost 10 percent in average- on Tuesday trading. Canadian Solar Inc. CSIQ, a solar wafers, cells and solar power products manufacturer, saw its stock return 25 percent, while JinkoSolar Holding Co., Ltd. JKS was up 12 percent.

Refiners’ stocks were also up, along with integrated oil and gas companies. ADRs like Petroleo Brasileiro Petrobras SA (ADR) (NYSE: PBR-A) PBR and Ecopetrol S.A. (ADR) EC were also up by roughly 13 percent each.