14 Dec

Which Integrated Energy Stocks Are Losing this Week?

WRITTEN BY Nicholas Chapman

Integrated energy stocks

In this part of our series, we’ll look at the biggest losers from the US integrated energy sector for the week starting December 11.

Which Integrated Energy Stocks Are Losing this Week?

Imperial Oil: The biggest integrated energy loser

Imperial Oil (IMO) is the most-losing stock this week from the integrated energy sector. It fell from last week’s close of $30.73 to $30.01 on December 13, or ~2.3%. IMO fell on all three days of the week so far, approaching its 200-day moving average. IMP might find support at its 200-day moving average, which currently stands at $29.86.

On December 11, Imperial Oil reported a mechanical issue at its Cold Lake well site. Per the company’s press release, “Effective procedures were in place resulting in an immediate response by operations personnel to secure the well.  Approximately 20 litres of heavy oil was released off of the well site.”

Other declining stocks

The other integrated energy losers this week are Cenovus Energy (CVE), YPF SA (YPF), Petrobras (PBR), and Suncor Energy (SU). These stocks are down ~1.6%, ~1.2%, ~0.7%, and ~0.4%, respectively, this week.

In general this week, the Vanguard Energy ETF (VDE) is up 0.32%. VDE has exposure to integrated heavyweights like Exxon Mobile (XOM) and Chevron (CVX). In comparison, the SPDR S&P 500 ETF (SPY) is up 0.47% this week.

Latest articles

JCPenney (JCP) is slated to announce its results for the first quarter of fiscal 2019, which ended on May 4, on May 21.

17 May

What to Know about the US-China Trade War

WRITTEN BY Mayur Sontakke, CFA, FRM

The key point of contention in the US-China trade dispute is the large trade deficit the United States runs against China.

On May 16, the Labor Department reported jobless claims for last week. Initial jobless claims fell by 16,000 to 212,000 for the week ended May 11.

Jeffrey Gundlach recommended investors take advantage of the volatility in interest rates at the recent Sohn Conference.

Tesla (TSLA) has fallen 4.2% as of 11:55 AM EDT on May 17. While US equity markets opened in the red today, they've recouped their losses.

According to Reuters, on May 16, Vale (VALE) told prosecutors that a dam was at risk of rupturing at its Gongo Soco mine.

172.31.71.127