On November 12–19, upstream stock EP Energy (EPE) fell the most on our list of upstream energy stocks. On November 7, EP Energy announced its third-quarter earnings results. The company reported an adjusted loss of $0.04 per share—compared to analysts’ consensus estimates for an EPS of $0.01. Since the earnings results, the stock has declined 33.6%.
Other large losses
Denbury Resources (DNR), Antero Resources (AR), EQT (EQT), and Whiting Petroleum (WLL) were the second, third, fourth, and fifth-largest upstream energy losses, respectively, in the week ending November 19.
On November 8, Denbury Resources announced its third-quarter earnings results. The company reported an adjusted EPS of $0.13—compared to analysts’ consensus estimates of $0.11 per share. Since the earnings results, the stock has declined 18.1%.
Energy commodities and the broader market
In the trailing week, US crude oil December futures fell 4.8%, natural gas December futures rose 24.1%, and the S&P 500 Index fell 1.3%. All of these upstream energy underperformers also underperformed energy commodities and the broader market during this period. Notably, the fall in oil prices might have dragged these upstream stocks.