Energy has been in the doldrums this year, especially with the fall of oil prices following a strong 2018. However, the tide could be turning in the favor of energy equities, which is showing itself in the Energy Select Sector SPDR Fund (NYSEArca: XLE).

Per a CNBC report, “energy stocks have roared higher in the early start to the month with the XLE energy ETF adding nearly 6% in just three sessions. The sector is also the best performer on the S&P 500 in November.”

Per Morningstar performance numbers, XLE is still up 9% YTD despite the hurt in energy. Investors who sense a buy-the-dip opportunity brewing might want to give the energy sector a closer look.

“You’re approaching the time of year when you do tend to see mean reversion to the laggards … so with energy being the worst performer, you could start to see a shift into energy between now and the early part of next year,” said Mark Newton, founder of Newton Advisors.

“This would be one I would buy that really could benefit from a further boost in WTI and Brent crude. Right near $24 is our really long-term trend line going back since the early part of the year. Hitting above that really could allow this to accelerate,” Newton added.

Of course, other analysts see that the energy sector still has some improving to do in order to confirm that it’s changing course for the better.

“Energy has definitely been through a really tough time given sort of all the expansion in supply because of technological changes in the industry,” said Gina Sanchez, CEO of Chantico Global. “However, you still have a little bit more to go, I think, in the downward trend in oil overall,” Sanchez said during the same segment.”

“While I think that the value rotation will start to favor value stocks and some of these companies are oversold relative to the oil price, the actual oil price is probably still on a downward trajectory,” added Sanchez.

The energy sector, of course, will need some help from one its heavy hitters—oil. One of its top consumers, China, could certainly spur a rise in oil prices as long as demand as strong.

“Strong refining margins in August prompted both national oil companies and the independents to ramp their crude purchases, which mostly were reflected in October data,” said Joey Chen, an oil consultant with FGE, told Reuters.

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