In this part of the series, we’ll look at the top percentage gainers from the crude oil and natural gas production—or upstream—sector in the United States for the current week starting November 27, 2017. To compile the list of the top upstream gainers, we’ve used only oil and gas producers with market capitalizations greater than $100 million and last week’s average trading volume greater than 100,000 shares.
Northern Oil & Gas rising strongly this week
In the week starting November 27, 2017, Northern Oil & Gas (NOG) has risen from its last week’s close of $1.24 to $1.41 on November 28, 2017, a significant rise of ~14%. There is no news release by the company this week. However, NOG has been on a strong upward trend since October 27, 2017.
On Monday, NOG rose strongly by ~5% and continued with the positive momentum until it hit its 50-day moving average. At the session high on Monday, NOG rose ~37%. However, it retreated from its 50-day moving average to close the day with gains of ~25%. NOG’s retreat continued on Tuesday when it fell ~6%. Currently, NOG is trading at $1.41, whereas its 50-day moving average stands at $1.59.
Moving up: SWN, RRC, TELL, and GPOR
Other upstream stocks making it to the list of top gainers this week are Southwestern Energy (SWN), Range Resources (RRC), Tellurian (TELL), and Gulfport Energy (GPOR). These stocks rose 3.7%, 3.5%, 2.4%, and 1.4%, respectively.
Southwestern Energy (SWN) has been rising strongly since October 27, rising almost 27%. On November 16, Tellurian (TELL) announced the closure of its agreement with Rockcliff Energy Operating to acquire natural gas–producing assets and undeveloped acreage for $85.1 million.
These stocks also managed to beat the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), which represents an index of stocks across the energy industry. XOP has fallen 1.8% this week.
In comparison, the SPDR Dow Jones Industrial Average ETF (DIA) has risen 1.2% this week.
Next, we’ll look at the upstream stocks that are trending downward this week.