Energy Stocks Underperformed US Crude Oil Last Week

Energy stocks

On December 22–29, Calumet Specialty Products Partners (CLMT) was the largest loser on our list of energy stocks. On December 28, Calumet Specialty Products Partners reported its 3Q17 earnings results. Its diluted net loss was $0.3 per unit—compared to analysts’ expectation of positive earnings of $0.19 per unit. On the same day, the stock fell ~9%.

Energy Stocks Underperformed US Crude Oil Last Week

All of these energy stocks belong to 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). We added a few US-listed integrated energy stocks.

Midstream stocks Boardwalk Pipeline Partners (BWP) and Spectra Energy Partners (SEP) were the second and third-largest losers on our list of energy stocks in the week ending December 29. In fact, AMLP fell 0.5%—the highest on our list of energy ETFs discussed in Part 2.

Oilfield services stocks Seadrill Limited (SDRL) and McDermott International (MDR) were the fourth and fifth-largest losers on our list of energy stocks last week. However, OIH rose 1.3%—the highest on our list of energy ETFs during this period.

So, the top energy losers underperformed the S&P 500 Index (SPY) and US crude oil February futures last week. During this period, the S&P 500 Index (SPY) fell 0.4% and US crude oil futures rose 3.3%.