22 May

These Energy Stocks Were the Top Movers Last Week

WRITTEN BY Rabindra Samanta

Top movers in energy sector

In the week ending May 19, upstream company Energen (EGN) gained the most with a rise of 10.8%. On May 19, 2017, Susquehanna increased its target price on the stock by $2 to $66. EGN was followed by OFS company Patterson-UTI Energy (PTEN) with a gain of 9.9% and Nabors Industries (NBR) with a gain of 9.6%.

These Energy Stocks Were the Top Movers Last Week

OFS company Tidewater (TDW) lost the most during the week with a fall of 14.8%. On May 12, 2017, Tidewater reached a restructuring support agreement with specific lenders. On May 15, the stock fell 20.5%.

TDW was followed by integrated oil and gas company Petrobras (PBR) with a loss of 12.5% and OFS company Seadrill (SDRL) with a loss of 9.4%.

In the same week, the Energy Select Sector SPDR ETF (XLE) rose 0.5%, while the broad market S&P 500 Index (SPY) (SPX-INDEX) fell 0.3%. Energy companies form 6.6% of the S&P 500 Index.

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