On August 17–24, upstream stock Denbury Resources (DNR) saw the highest gain on our list of energy stocks. In fact, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 5.9%—the highest gainer among major energy subsector ETFs during this period, as we discussed in the previous part.
We created our list of energy stocks from the following energy subsector ETFs and a few integrated energy stocks—XOP, the Energy Select Sector SPDR ETF (XLE), the Alerian MLP ETF (AMLP), and the VanEck Vectors Oil Services ETF (OIH).
Other large gainers
Sanchez Energy (SN), Range Resources (RRC), and SM Energy (SM) were the second, third, and fifth-largest gainers among energy stocks last week. Most of the top five energy gainers on our list were upstream stocks.
Noble (NE) was the fourth-largest gainer on our list on August 17–24. In fact, OIH rose 4.5%—the third-largest gainer among major energy subsector ETFs during this period.
Energy commodities and the broader market
During the week ending August 24, US crude oil October futures rose 5.4%, while natural gas September futures fell 1%. The S&P 500 (SPY) rose 0.9% during this period. So, these energy gainers outperformed energy commodities and equity markets last week.
Next, we’ll discuss oil ETFs’ price performance.