Comparing EQT, COG, AR, and NBL
This series will compare the performances of EQT (EQT), Cabot Oil and Gas (COG), Noble Energy (NBL), and Antero Resources (AR). First, let’s look at the one-year returns for these companies compared to the broader industry.
EQT has performed better than its peers between July 2015–July 2016, and Noble Energy has been a close second. However, EQT has outperformed the broader industry ETF, the Energy Select Sector SPDR ETF (XLE), while Noble Energy has underperformed.
Along with Noble Energy, Antero Resources and Cabot Oil and Gas have also performed poorly compared to XLE. It’s interesting to note that EQT’s returns had fallen significantly in late 2015, falling below XLE and NBL. However, as we can see, EQT’s returns have since recovered and have been on an uptrend.
EQT, NBL, and COG make up a combined 4.1% of XLE.
EQT was the outlier
All the above-mentioned stocks started falling in late 2015, thanks to low natural gas (UNG) prices, which had fallen to multiyear lows. However, since the start of this year, their stock prices have risen, following the rally in crude oil (USO) and natural gas prices. We can see in the above image that all the returns have a V-shape, representing this trend.
EQT’s returns are similar to July 2015 levels. Meanwhile, its peers—and even XLE—are giving lower returns compared to July 2015.