Why Oilfield Services Stocks Led the Energy Space Last Week

Energy stocks

Between September 14 and 21, upstream stock Southwestern Energy Company (SWN) gained the most on our list of energy stocks. SWN operates with a production mix of 85.9% natural gas, based on its latest quarterly production data. Last week, natural gas November futures spiked 8.1%. Meanwhile, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), the second-largest gainer among major energy subsector ETFs, rose 2.8%.

Why Oilfield Services Stocks Led the Energy Space Last Week

Our list of energy stocks also included the following, and a few integrated energy stocks:

  • the VanEck Vectors Oil Services ETF (OIH)
  • the Energy Select Sector SPDR ETF (XLE)
  • the Alerian MLP ETF (AMLP)

Other large gainers

Last week, three of the five largest gainers on our list were oilfield service stocks. Transocean (RIG), Rowan (RDC), and Noble (NE) ranked second, fourth, and fifth on our list of top energy gainers. In fact, the VanEck Vectors Oil Services ETF (OIH) rose the most among major energy subsector ETFs.

Integrated energy stock YPF Sociedad Anonima (YPF) saw the third-largest rise.

Energy commodities and the broader market

Last week, US crude oil November futures rose 2.9%, natural gas November futures rose 8.1%, and the S&P 500 rose 0.8%. These energy gainers outperformed energy commodities as well as the broader market. Next, we’ll discuss the biggest declines in the energy space.