Shale Stocks Are Suffering From A Sentiment Problem

Third-quarter earnings in the oil and gas industry have begun to trickle in at a time when investors have the lowest confidence and interest in U.S. shale stocks in years. After years of frustration with the lack of meaningful returns from shale firms and amid persistently low oil and gas prices, investors have turned their backs on energy stocks. Banks have too, restricting lending to shale firms who have grown production so far, mostly by taking on more debt. U.S. shale drillers are not optimistic about the near future, either, admitting that…