In the week to May 8, WTI crude oil gained ~0.5%, while Henry Hub natural gas gained almost 4%. In this series, we’ll be looking at how American energy companies fared over that 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 $1 billion, and 30-day average daily volumes of over a million shares.
Top gainer was WPX Energy
WPX Energy (WPX) gained the most among our select group last week. It rose ~6.5%. WPX has lost ~16% over the last six months, but has gained ~25% since the start of the year.
SM Energy Company (SM) followed WPX Energy among our top upstream and integrated gainers in the week to May 8. It gained ~4% last week, and is up ~9% in the last six months. SM shares have gained by over 50% year-to-date.
Top loser was Laredo Petroleum
The top loser in our upstream and integrated list last week was Laredo Petroleum (LPI). It lost ~15.5% in the week. Shares of LPI are down ~27% in the last six months, but are up ~30% year-to-date.
Following Laredo Petroleum was Rosetta Resources (ROSE). ROSE lost ~11% in the week to May 8. But, this poor performance was more than undone after Noble Energy (NBL) announced an acquisition of the company during the following weekend. Shares of Rosetta Resources had lost almost half their value over the last six months, and ~13.5% year-to-date.
For context, the broad market SPDR S&P 500 ETF Trust (SPY) gained ~0.5% in the week to May 8. The Energy Select Sector SPDR Fund (XLE), which tracks the American energy sector, lost ~1.3% last week.