Noble Energy’s stock performance this year
Noble Energy (NBL) stock fell significantly in 1H17. The stock started making its way upwards in September 2017, as you can see in the following graph. Recently, Noble Energy stock started turning lower—like US stocks in general. Concerns emerged last week after rising bond yields and a possible rise in inflation. Speculations about inflation were aggravated after the release of stronger-than-expected US employment data last Friday. The data raised concerns about the Fed raising the interest rates.
Noble Energy stock has declined ~29% YoY (year-over-year). Noble Energy stock has underperformed the Energy Select Sector SPDR ETF (XLE), which has fallen ~2.5% YoY. XLE and Noble Energy stock have broadly mirrored the movements in energy prices. Crude oil prices have increased 17.8% YoY, while natural gas prices have dropped ~13.3% during the same period.
XLE and Noble Energy stock have underperformed the S&P 500 SPDR ETF (SPY), which has risen ~17% YoY. The energy sector accounts for ~6% of SPY.