Investors are sending a message to oil and gas companies: Think less like wildcatters and more like accountants. During the first quarter, stocks of the oil and gas companies that fared the best were often those that promised to rein in spending. This approach marked a reversal from recent years, when investors tended to reward companies that pursued rapid growth above all else. The SPDR S&P Oil & Gas Exploration & Production ETF, a common benchmark for the group, overall fell 1.1% in the first quarter through Wednesday, while U.S. oil prices were up 3.5% to $38.32 a barrel during the same period. The emphasis on cost-cutting has taken hold as a deep slump in oil and commodity prices nears its second year. The plummet began in late 2014 and early 2015, but companies […]