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Which Energy Stocks Could Take Advantage of Oil's Rise?

PART:
1 2 3 4 5
Part 2
Which Energy Stocks Could Take Advantage of Oil's Rise? PART 2 OF 5

US Crude Oil: Oil-Weighted Stocks Could Rise

Oil-weighted stocks

On September 18–25, 2017, our list of oil-weighted stocks rose 7.7%—compared to the 3.7% rise in US crude oil active futures. These oil-weighted stocks are part of the SPDR S&P Oil & Gas Exploration & Production ETF (XOP). These stocks operate with a production mix of a minimum of 60% in oil.

US Crude Oil: Oil-Weighted Stocks Could Rise

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The oil-weighted stocks that outperformed their peers in the trailing week are:

  • California Resources (CRC) – 17.9%
  • Carrizo Oil & Gas (CRZO) – 14.2%
  • Whiting Petroleum (WLL) – 13.5%

Whiting Petroleum had the highest correlation with oil prices during this period, as we discussed in Part 1.

The oil-weighted stocks that underperformed their peers in the trailing week are:

  • Diamondback Energy (FANG) – 1.7%
  • Murphy Oil  (MUR) – 3.5%
  • Callon Petroleum (CPE) – 3.8%

Returns since last year

From February 11, 2016, to September 25, 2017, US crude oil active futures rose 99.2%. The United States Oil Fund LP ETF (USO) rose 28.2% during this period due to a negative roll yield. Our list of oil-weighted stocks outperformed USO by 26.7 percentage points during this period. On February 11, 2016, US crude oil prices were at a 12-year low.

Oil-weighted stocks that rose the most between these two dates are as follows:

  • Oasis Petroleum (OAS) rose 112.8%.
  • Continental Resources (CLR) rose 105.5%.
  • Kosmos Energy (KOS) rose 98.8%.

Oil-weighted stocks that underperformed between these two dates are as follows:

  • Whiting Petroleum (WLL) rose 13.2%.
  • Occidental Petroleum (OXY) rose 5.7%.
  • Carrizo Oil & Gas (CRZO) fell 31.8%.
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