Devon shares jumped to as high as $75.81 in March before falling again more recently. For the year, the company's gains are essentially flat. Devon closed at $66.79 per share Tuesday.
SandRidge is down 14 percent for the year, but has traded in the $7 to $8.50 per share range. It closed at $7.28 Tuesday.
Continental posted gains of almost 20 percent for the year. After starting the year at almost $70 per share, it reached $94.93 in late February. Shares have since declined and closed at $83.42 Tuesday.
Dollarhide said energy stocks had a good first few months this year, driven by positive news about additional oil discoveries in the Bakken Field in North Dakota and federal legislative prospects for compressed natural gas for transportation. As the price of natural gas continued to fall, though, so did the stocks for energy companies that are reliant on natural gas production, he said. Those companies are scrambling to switch production to oil and natural gas liquids, which command higher prices on the commodities markets than dry gas.