Energy stocks

On November 30–December 7, Gulfport Energy (GPOR) gained the most on our list of upstream energy stocks. However, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.9%—the third–largest decline among the major energy subsector ETFs that we discussed in the previous part.

Top Energy Gainers Last Week

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

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

Other outperformers

Another upstream stock, Laredo Petroleum (LPI) was the third-largest energy gainer on our list. Laredo Petroleum operates with a production mix of at least 50% in liquids based on the latest quarterly production data. Liquids include crude oil, condensates, and natural gas liquids. The rise in oil prices because of OPEC and non-OPEC members’ decision to carry out a coordinated production cut of 1.2 MMbpd (million barrels per day) in 2019 might have influenced these upstream energy stocks. However, Gulfport Energy operates with a production mix of ~89% in natural gas. Bullish sentiments in the oil market might have helped Gulfport Energy to rise. Gulfport Energy might be included in the S&P SmallCap 600 Index.

Midstream stocks NGL Energy Partners LP (NGL) and Crestwood Equity Partners (CEQP) were the second and fifth-largest outperformers, respectively, on our list of energy stocks in the week ending on December 7. The Alerian MLP ETF (AMLP) fell 0.9%. AMLP had the lowest decline among major energy subsector ETFs during this period.

Cenovus Energy (CVE), a Canadian oil sand producer, had the fourth-largest rise on our list of energy stocks. Last week, the WTI-WCS (Western Canada Select) spread contracted by more than ~$10 per barrel, which might have helped Cenovus Energy to rise.

Energy commodities and the broader market

Last week, US crude oil January futures rose 3.3%. Natural gas January futures fell 2.7%, while the S&P 500 Index fell 4.6%. These energy outperformers also beat oil and the broader market during this period.

Next, we’ll discuss the biggest declines in the energy space.

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