Upstream Low Performers: PE, VET, ERF, AREX, and TELL



Upstream underperformers

Having looked at the percentage gainers, we’ll now move on to the percentage losers from the oil and gas production—or upstream—sector in the United States this week. For our list of the top upstream gainers, we used only oil and gas producers with market capitalizations greater than $100 million and average trading volumes greater than 100,000 shares last week.

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Parsley Energy: Biggest loser

This week, Parsley Energy (PE) fell from $26.76 to $25.95—a fall of ~3%. The fall in PE came despite decent gains in crude oil (USO)(SCO) and natural gas (UNG)(UGAZ) prices this week.

On Wednesday, Parsley Energy (PE) lost its 50-day moving average on very high volume, which is a bearish sign for the stock. Wednesday’s fall in PE came with ~1.4 million shares exchanging hands on the NYSE (New York Stock Exchange), whereas its 30-day average volume is ~0.44 million shares.

In our list of the biggest falls, Parsley Energy (PE) was followed by Vermilion Energy (VET), which fell from $37.06 to $36.47 or by 1.59%. On September 15, Vermilion Energy (VET) announced a dividend of 0.215 Canadian dollars per share on its common stock. This dividend is payable on October 16 to stockholders of record as of September 29.

Others big falls in the oil and gas production industry included Enerplus (ERF), Approach Resources (AREX), and Tellurian (TELL). These stocks are down 1.59%, 1.50%, and 1.38% so far this week. Overall, the First Trust Natural Gas ETF (FCG)—which represents an index of stocks across the natural gas exploration and production industry—is rising this week. It’s up 1.15%. In comparison, the SPDR S&P 500 ETF (SPY) rose 0.25% this week.


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