In the week ended April 10, 2015, WTI (West Texas Intermediate) crude oil gained ~5.1% while the Henry Hub natural gas benchmark fell by ~7.4%.
In this series, we’ll look at how American energy companies fared over the week. First, we’ll discuss the best and worst performers of the upstream and integrated energy subsectors. We’ve selected only companies with market capitalizations of over $2 billion and 30-day average daily volumes over a million shares.
Matador Resources: Top gainer
Matador Resources (MTDR) gained most among its upstream peers last week. Its stock was up by almost 18%. The company’s stock has been on a clear uptrend since the end of March. Indeed, it currently trades very close to its 52-week high of $29.90. A bullish sign, given that energy prices haven’t quite recovered yet.
Matador Resources was followed by the American Depository Receipt of Brazilian integrated energy company Petroleo Brasileiro Petrobras (PBR). Its shares saw a ~14.5% gain last week. But this follows a loss of nearly 50% in the last six months. Though it seems to have put the worst behind it with a steady uptrend since mid-March, PBR shares are still trading closer to their 52-week low rather than to their 52-week high.
Rice Energy: Top loser
Of all the top upstream losers last week, Rice Energy (RICE) performed the worst, with a ~2.5% loss. While shares of the company were among the best-performing in March, with an ~11% gain, they’re about where they were six months ago and at the start of the year.
Another big upstream loser was Ultra Petroleum (UPL). UPL shares lost ~1.8% percent last week. They’re down ~29% over the last six months but up ~22% this year.
In comparison, the broad-market SPDR S&P 500 ETF Trust (SPY) gained ~1.7% during the week. Unsurprisingly, the Energy Select Sector SPDR Fund (XLE)—tracking the American energy sector—gained ~3.1% last week. XLE holds mainly large integrated energy companies.