On December 7–14, upstream stock Carrizo Oil & Gas (CRZO) fell the most on our list of energy stocks. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 7.8%—the most among the major energy subsector ETFs that we discussed in Part 2.
Our list of energy stocks also included the following plus a few integrated energy stocks:
Another upstream stock, Matador Resources (MTDR) had the fifth-largest decline in the energy sector last week.
Oilfield services stock Ensco (ESV), Oil States International (OIS), and Rowan Companies (RDC) were second, third, and fourth on our list of the top energy losses. Concerns surrounding a slowdown in US oil exploration by March 2019 might have dragged these oilfield services stocks.
Energy commodities and the broader market
Last week, US crude oil January futures fell 2.7%. Natural gas January futures fell 14.7%, while the S&P 500 Index fell 1.3% during this period. The weakness in energy commodities might have dragged Carrizo Oil & Gas and Matador Resources last week. These energy underperformers also underperformed energy commodities and the broader market during this period.