A tough Wednesday for energy stocks in Oklahoma

  • September 23, 2020

The crying towels were everywhere for Oklahoma energy companies and others following Wednesday’s trading where more than one firm saw a drop of 7 to 8% in share values.
The nearly 1% drop or 2 cent decline to $2.92 for Alliance Resource Partners was mild compared to what some of the companies suffered. Blueknight Energy Partners was lucky to stay unchanged at $1.43. So was Chesapeake Energy where stocks remained at $4.85, same as Tuesday’s price.
Continental Resources took it in the nose as it fell 87 cents or 6.48% to $12.56. Cypress Environmental Partners wasn’t much better as its price dropped 13 cents for a 6.25% decline to $2.21. Devon Energy was close by with a 52 cent drop for a 5.65% slide to $8.68.

Enable Midstream Partners managed only a 4.23% decline or 18 cents to $4.08. Helmerich and Payne dropped 86 cents or 5.76% to $14.08 per share. Laredo Petroleum suffered an 88 cent drop which translated into a decline of 8.50% to $9.47.

Magellan Midstream Partners dropped $1.42 or about 4% to $34.23. Mammoth Energy Services finished the day down 7 cents or 3.45% and settled at $1.96. Matrix Service was hit with a 55 cent drop or 6.59% to $7.80 per share.

NGL Energy Partners managed only a 10 cent decline or 2.78% to $3.50. OGE Energy was one of the few to see a gain of a dime per share to reach $29.06. ONE Gas, after joining a methane gas emissions monitoring coalition ended up losing $1.67 per share for a 2.45% drop to $66.55. ONEOK slid $1.13 for a drop of 4.40% to $24.54.

Ovintiv Inc was smacked with a 74 cent or 8.06% plunge to $8.44. Panhandle Oil and Gas had a 3 cent or 1.76% drop to $1.67 per share. SandRidge Energy’s one cent gain made the company one of the exceptions on Wednesday. It finished the day at $1.81.

WPX Energy was slapped with a 29 cent drop or 6.25% and settled at $4.35. The 90 cent drop for Williams Companies amounted to a 4.32% decline to $19.91 per share.

 Other stocks had similar experiences.

Concho Resources (CXO) down 2.25 at 43.35 – change 4.94%

ConocoPhillips (COP) down 1.38 at 32.92 – change 4.03%

Diamondback Energy (FANG) down 1.71 at 29.90 – change 5.41%

Energy Transfer LP (ET) down 0.26 at 5.56 – change 4.47%

EOG Resources (EOG) down 2.07 at 36.38 – change 5.39%

ExxonMobil (XOM) down 1.14 at 34.39 – change 3.21%

Kinder Morgan (KMI) down 0.57 at 12.23 – change 4.46%

Marathon Oil Corp. (MRO) down 0.26 at 4.21 – change 5.82%

National Oilwell Varco (NOV) down 0.41 at 10.40 – change 3.80%

Noble Energy (NBL) down 0.43 at 8.50 – change 4.82%

Occidental Petroleum (OXY) down 0.67 at 10.41 – change 6.05%

Phillips 66 (PSX) down 2.73 at 52.63 – change 4.94%

Pioneer Natural Resources (PXD) down 5.62 at 86.90 – change 6.08%

Valero (VLO) down 2.91 at 44.51 – change 6.14%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.67 at 79.18 – change 0.84%

 

 

Jerry Bohnen