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These Stocks Outperformed the Energy Space Last Week

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Jan. 28 2019, Updated 8:56 a.m. ET

Energy stocks

Between January 18 and January 25, oilfield services stock Weatherford International (WFT) rose the most among the energy stocks under review in this series, which include the following ETFs:

  • the Alerian MLP ETF (AMLP)
  • the Energy Select Sector SPDR ETF (XLE)
  • the VanEck Vectors Oil Services ETF (OIH)
  • the VanEck Vectors Oil Refiners ETF (CRAK)
  • the SPDR S&P Oil & Gas Exploration & Production ETF (XOP)

OIH fell the least among the major energy subsector ETFs. On January 17, Stifel slashed its price target on WFT by $1 to $1.5.

In addition to US energy companies, the following foreign-headquartered integrated energy companies are also listed in the United States:

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Other strong performers were upstream stocks

Oilfield services stock Rowan Companies (RDC) rose the fourth most among our list of energy gainers in the week that ended on January 25.

Midstream stocks Shell Midstream Partners LP (SHLX), Enable Midstream Partners LP (ENBL), and Antero Midstream Partners LP (AM) were the second-, third-, and fifth-largest gainers among our selected energy stocks last week. Among major energy ETFs, AMLP had the second-largest losses. On January 24, SHLX announced a cash distribution of $0.40 per limited partner unit for the fourth quarter of 2018—20.1% more than in the same quarter of the previous year.

On January 18, ENBL announced that it would be reporting its fourth-quarter earnings results on February 19. Analysts’ consensus estimate suggests that ENBL will report adjusted earnings of $0.26 per unit, just $0.04 below its earnings in the previous quarter.

Energy commodities and the broader market

Moreover, the broader market’s fall and oil’s retreat may have limited the upsides of the above-mentioned energy stocks, which also beat oil and the broader market last week. US crude oil March futures fell 0.6%, natural gas March futures fell 5.2%, and the S&P 500 Index (SPY) fell 0.2% in the period. In the next article, we’ll discuss the top underperformers in the energy sector last week.

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