Having looked at this week’s gainers in the US upstream sector, we’ll now move to the stocks that have fallen the most. We’ll focus on oil and gas producers with a market capitalization greater than $100 million and an average trading volume greater than 100,000 shares.
As of June 13, HighPoint Resources (HPR) had fallen ~5.7% this week, to $6.28 from $6.66, pushing HPR below its 50-day moving average. As of June 13, HPR’s 50-day and 100-day moving averages were $6.43 and $5.24, respectively.
On the list of weakest stocks this week, HighPoint Resources is followed by California Resources (CRC), Extraction Oil & Gas (XOG), SRC Energy (SRCI), and Denbury Resources (DNR), which have fallen ~5.5%, ~5.1%, ~4.8%, and ~4.8%, respectively.
However, last week, California Resources hit its 52-week high of $41.33 on June 11. California Resources and Denbury Resources are among the best-performing upstream stocks this year—year-to-date, they have risen ~100% and ~89%, respectively. The First Trust Natural Gas ETF (FCG), which represents an index of natural gas exploration and production stocks, has risen ~1.7%.