Are Oil-Weighted Stocks Rising Faster than Oil?
By Rabindra SamantaApr. 12 2018, Published 1:08 p.m. ET
Returns
Between April 4 and April 11, 2018, our list of oil-weighted stocks rose 8.2%, which was 2.8% more than the rise in US crude oil May futures. In the past five trading sessions, the oil-weighted stocks with the largest gains were:
CRC and WLL had correlations greater than 65.0% with US crude oil May futures in the trailing week. We discussed this topic in the previous part. The oil-weighted stocks with the smallest increases or the largest decreases in the trailing week were:
- Callon Petroleum (CPE): rose 3.6%
- RSP Permian (RSPP): rose 3.3%
- Diamondback Energy (FANG): fell 4.9%
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 60.0% in liquids based on their latest quarterly production data. Liquids include crude oil, condensates, and natural gas liquids.
February 2016
Between February 11, 2016, and April 11, 2018, US crude oil active futures rose 154.9% from their 12-year low. Our list of oil-weighted stocks rose 107.3% during this period. The oil-weighted stocks with the largest rise during this period were:
- California Resources: gained 248.1%
- WPX Energy: gained 239.5%
- Denbury Resources: gained 191.3%
The oil-weighted stocks with the smallest rise or the largest fall during this period were:
