On March 28–April 4, 2018, our list of oil-weighted stocks rose 0.6%, while US crude oil May futures fell 1.6% during this period. In the seven calendar days to April 4, 2018, the oil-weighted stocks with the highest rise were:
In the trailing week, the S&P 500 Index rose 1.5%. The equity market sentiment can help stocks rise despite underlying fundamental drivers.
The oil-weighted stocks with the largest fall in the trailing week were:
These three oil-weighted stocks with the highest losses had correlations of more than 90% with US crude oil May futures during this period.
All of these oil-weighted stocks are from the SPDR S&P Oil & Gas Exploration & Production ETF (XOP). They operate with a production mix of at least 60% in liquids based on their latest quarterly production data. Liquids include crude oil, condensates, and natural gas liquids.
Between February 11, 2016, and April 4, 2018, US crude oil active futures rose 141.8% from their 12-year low. On average, these oil-weighted stocks rose 90.9% during this period.
The oil-weighted stocks that outperformed during this period were:
- WPX Energy gained 213.1%.
- California Resources gained 186.7%.
- Denbury Resources gained 163.1%.
The oil-weighted stocks with the least returns during this period were: