Integrated energy stocks
In this part of our series, we’ll look at the top gainers from the integrated energy sector in the United States for the week starting January 1, 2018.
Cenovus Energy: The top integrated energy gainer
Cenovus Energy (CVE) is the leading gaining stock in the current week from the integrated energy sector. It rose from last week’s close of $9.13 to $10.30 on January 3, 2018, or ~12.8%. It rose significantly on Tuesday and Wednesday and moved above its 50-day and 200-day moving averages.
This is CVE’s third attempt in the last month to cross above its 50-day and 200-day moving averages. For the past month, CVE has repeatedly been sold above its 50-day and 200-day moving averages. As of January 3, 2018, CVE is trading at $10.30, whereas its 50-day and 200-day moving averages stand at $9.67 and $9.14, respectively.
This is a bearish sign and could indicate an end to its uptrend, which has been going on since June 2017.
The other integrated energy gainers in the current week are Petrobras (PBR), China National Offshore Oil (CEO), Statoil ASA (STO), and ExxonMobil (XOM). PBR, CEO, STO, and XOM have risen ~6.6%, ~5.7%, ~4.6%, and ~3.7%, respectively, as of January 3, 2018.
It’s worth noting that ExxonMobil (XOM) has been on a strong uptrend since August 31, 2017, rising almost 15%. Due to this uptrend, XOM’s 50-day moving average crossed above its 200-day moving average in October 2017, a positive technical posture. As of January 3, 2018, XOM is trading at $86.70, whereas its 50-day and 200-day moving averages stand at $82.73 and $80.26, respectively. It’s trading very close to its 52-week high of $87.81.
This week, the iShares US Energy (IYE) has risen ~3.2%. IYE has exposure to integrated heavyweights ExxonMobil (XOM) and Chevron (CVX). In comparison, the SPDR Dow Jones Industrial Average ETF (DIA) has risen ~0.6% this week.
In the current week, there are no losing stocks in the integrated energy space. Next, we’ll take a look at Wall Street analysts’ ratings.