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.
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.