Weakest Upstream Stocks in the Week Ending September 14


Nov. 20 2020, Updated 11:27 a.m. ET

SandRidge Energy

SandRidge Energy (SD), a natural gas–weighted E&P company focused in the Mid-Continent and Niobrara Shale regions, was the weakest upstream stock in the week ending September 14. SandRidge Energy fell 22.7% last week. SandRidge Energy saw a massive fall last week following the announcement about ending the strategic review related to various takeover bids. Bill Griffin, SandRidge Energy’s CEO, said, “What we found through our comprehensive and thorough process was a significant disconnect between the intrinsic value of SandRidge and the bidders’ perception of the Company.”

SandRidge Energy has been among the weakest upstream stocks for the past three weeks. Overall, the stock has lost 47.7% YTD (year-to-date).

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Extraction Oil & Gas

Extraction Oil & Gas (XOG), a Rocky Mountain focused E&P stock, was the second-weakest upstream stock last week—it fell 5.4%. Overall, Extraction Oil & Gas has lost 28.4% in 2018. The stock’s weak YTD performance could be due to the challenging midstream environment in the region, which caused low average realized prices.

Bonanza Creek Energy

Bonanza Creek Energy (BCEI), a DJ Basin focused E&P company, was the third-weakest upstream stock last week. Bonanza Creek Energy ended the week 5.2% lower. Overall, Bonanza Creek Energy has gained 2.8% in 2018.

Other lowest performers

SRC Energy (SRCI), HighPoint Resources (HPR), PDC Energy (PDCE), Alta Mesa Resources (AMR), CNX Resources (CNX), Devon Energy (DVN), and Anadarko Petroleum (APC) were among the top ten lowest-performing upstream stocks last week.

Next, we’ll discuss analysts’ rating updates last week.


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