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%.
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%.
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.