Upstream Gainers This Week: Whiting Petroleum Leads



Upstream gainers

In this article, we’ll look at the top percentage of gainers from the oil and gas production (or upstream) sector in the United States for the current week, which started on January 15, 2018. 

To compile this list of top upstream gainers, we’ve used only oil and gas producers with market caps of greater than $100 million and average trading volumes of greater than 100,000 shares as of last week.

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Whiting Petroleum rising this week

Whiting Petroleum (WLL) rose from its previous week’s close of $29.78 to $30.03 on January 16—a modest increase of ~0.8%. On the day, WLL gapped up strongly by more than ~1% and continued its positive momentum in the morning session. 

At its session high, WLL was trading at a gain of more than 5%. However, WLL failed to hold on to this gain and fell in the afternoon session to close the day at a modest rise of ~0.8%. On the day, WLL formed a reversal candle on the daily chart.

Whiting Petroleum has been in a strong uptrend since September 2017. Due to this strong uptrend, WLL has risen more than 87% since September 8. This uptrend also caused WLL’s 50-day moving average to cross above its 200-day moving average last week. This technical development was a very positive one for WLL. It indicated that WLL stock could continue its uptrend. On January 16, Whiting Petroleum was trading at $30.03, whereas its 50-day and 200-day moving averages stood at $25.35 and $24.76, respectively.

Moving up: JONE, VET, ERF, CRC

Other upstream stocks that have made it to the list of top gainers this week are Jones Energy (JONE), Vermilion Energy (VET), Enerplus (ERF), and California Resources (CRC). JONE, VET, ERF, and CRC have risen ~0.8%, ~0.5%, ~0.5%, and ~0.3%, respectively.

On January 15, 2017, Vermilion Energy (VET) announced that it had entered into an agreement to acquire a private southeastern Saskatchewan producer for $90.8 million in cash. VET will use its existing credit facility to fund this acquisition. The assets include ~43,000 net acres with 1,150 barrels per day of production in 4Q17.

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 is down ~1.8% in the current week.

In comparison, the SPDR Dow Jones Industrial Average ETF (DIA) is almost flat with a marginal fall of ~0.04% in the current week.

Next, we’ll take a look at the upstream stocks that are trending down this week.


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