Last week (ended November 3, 2017), upstream stocks Cobalt International Energy (CIE), Laredo Petroleum (LPI), and Gulfport Energy (GPOR) ranked first, second, and fifth, respectively, on our list of top energy losers.
These companies went against the outperformance of the upstream sector as represented by the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) during this period.
On November 2, 2017, CIE released its 3Q17 earnings results, reporting a loss of $5.05 per share, compared with the analysts’ estimate for a loss of $2.89 per diluted share. On November 1, LPI released its 3Q17 earnings results, reporting adjusted net income of $0.13 per diluted share, compared with the analysts’ estimate for income of $0.14 per share.
Our list of energy stocks comes from the VanEck Vectors Oil Services ETF (OIH), the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), the Energy Select Sector SPDR ETF (XLE), and the Alerian MLP ETF (AMLP). The list also has a few US-listed integrated energy stocks.
Between October 27 and November 3, 2017, midstream stocks, NuStar Energy LP (NS) and Antero Midstream Partners LP (AM) ranked third and fourth, respectively, on our list of top energy losers. The Alerian MLP ETF (AMLP) rose the least among those on our list of energy subsector ETFs over this time.
On November 1, 2017, AM released its 3Q17 earnings results. Its net income per limited partner unit was $0.33, compared with the analysts’ estimate of $0.41 per limited partner unit.