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Weakest Upstream Stocks in the Week Ending September 21

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Nov. 20 2020, Updated 3:57 p.m. ET

Talos Energy 

Talos Energy (TALO), an exploration and production company involved in offshore drilling, was the weakest upstream stock in the week ending September 21. Talos Energy fell 9.3% last week. The company’s recent weakness could be due to its high spending plans despite its weak financial position.

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Halcon Resources 

Halcon Resources (HK), an exploration and production company in the Delaware Basin, was the second-weakest upstream stock last week. The stock fell 4.6%. Overall, Halcon Resources has lost 39.5% in 2018. The weak YTD performance could be due to the company’s weak operating performance. Halcon Resources reported an adjusted EBITDA of $55.1 million in the second quarter—compared to $65.0 million in the same quarter the previous year, which represents a decline of 15.3% year-over-year.

Alta Mesa Resources

Alta Mesa Resources (AMR), an exploration and production company in the Anadarko Basin, was the third-weakest upstream stock last week. The stock fell 2.8%. Alta Mesa Resources has lost 55.2% in 2018. 

Other weak performers

Ring Energy (REI), Centennial Resource Development (CDEV), Diversified Gas & Oil (DGOC), Unit (UNT), SandRidge Energy (SD), and Black Stone Minerals (BSM) were among the ten lowest performing upstream stocks last week.

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

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