These Stocks Were Biggest Losers in Energy Sector Last Week
In the week ended November 10, 2017, upstream stock Cobalt International Energy (CIE) ranked first on our list of top energy losers. For our analysis, we are considering stocks from the VanEck Vectors Oil Services ETF (OIH), the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), the Energy Select Sector SPDR ETF (XLE), the Alerian MLP ETF (AMLP), and a few US-listed integrated energy stocks.
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On November 2, 2017, CIE reported its 3Q17 earnings results. It reported a net loss of $5.05 per diluted share compared to analysts’ estimate for a loss of $2.89 per share.
Midstream stocks Crestwood Equity Partners (CEQP) and Energy Transfer Partners (ETP) ranked second and fourth on our list of top energy losers last week. In fact, the Alerian MLP ETF (AMLP) fell 1.9% and underperformed energy subsector ETFs as discussed in part two of this series.
On November 7, 2017, ETP reported its 3Q17 earnings results. It reported a net income $0.33 per common unit versus analysts’ estimate of an income of $0.19 per common unit.