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Which Energy Stocks Could Be in Danger if Oil Keeps Stalling?

PART:
1 2 3 4 5
Part 5
Which Energy Stocks Could Be in Danger if Oil Keeps Stalling? PART 5 OF 5

How Energy Commodities Shape Natural-Gas-Weighted Stocks’ Returns

Last five trading sessions

Between November 6 and November 13, 2017, our list of natural-gas-weighted stocks fell 0.7%, but natural gas prices rose 1.1% during this time period. The natural-gas-weighted stocks that rose the most during this time period are:

  • Southwestern Energy Company (SWN) at 5.2%
  • EQT (EQT) at 1.2%
  • Cabot Oil & Gas (COG) at 1.2%

How Energy Commodities Shape Natural-Gas-Weighted Stocks’ Returns

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SWN and EQT had higher correlations with natural gas compared to oil prices. US crude oil has fallen 1% in the past five trading sessions. The natural-gas-weighted stocks that fell the most in the trailing week are:

  • Range Resources (RRC) at -3.1%
  • Gulfport Energy (GPOR) at -4%
  • WPX Energy (WPX) at -4.6%

WPX had the second-highest correlation with US crude oil active futures, and it fell the most in the trailing week. However, in addition to correlations with energy prices, sentiments in the broader market can also affect the movements of these natural-gas-weighted stocks.

All these natural-gas-weighted stocks are from the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).

Since last year

Between March 3, 2016, and November 13, 2017, natural gas active futures have risen 93.2% from their 17-year low. ETFs that can provide exposure to natural gas prices such as the ProShares Ultra Bloomberg Natural Gas ETF (BOIL) fell 6.1%, while the United States Natural Gas Fund LP (UNG) rose 11.6%. Natural-gas-weighted stocks rose 7.7% during this period.

Natural-gas-weighted stocks that were the outperformers between these two dates are:

  • WPX Energy (WPX) at 3%
  • Cabot Oil & Gas (COG) at 32.3%
  • EQT (EQT) at 8.6%

Natural-gas-weighted stocks that underperformed between these two dates are:

  • Antero Resources (AR) at -16.7%
  • Range Resources (RRC) at -39.2%
  • Gulfport Energy Corporation (GPOR) at -45.5%

Visit our energy and power page for more updates on energy stocks.

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