Fund managers, convinced oil bottom is here, buy up energy stocks
April 18, 2016 at 08:00 AM EDT
By David Randall NEW YORK, April 18 (Reuters) - After several false starts over the last two years, U.S. fund managers are betting that energy stocks have finally hit bottom. Firms including T. Rowe Price, Fidelity, and American Funds have been adding shares of exploration and production companies that they say have the most to gain from oil prices stabilizing. The price of oil fell from $115 a barrel to $27.88 between June 2014 and January of this year, yet is up more than 50 percent s