Crude oil futures dropped in Monday’s trading along with energy stocks

 

Crude oil futures and Oklahoma energy stocks walked hand in hand into the loss column in Monday’s trading.

West Texas Intermediate crude for January delivery fell 19 cents or 0.4% in trading on the New York Mercantile Exchange and finally settled Monday at $45.34 a barrel. The slide came on the last day of November, a month where WTI saw a gain of nearly 27%.

Global benchmark Brent Crude suffered a loss of 37 cents per barrel or 0.8% and dropped to $47.88 on ICE Futures Europe. The front month January Brent crude expired at the end of the day’s trading session and lost 59 cents or 1.2% at $47.59 a barrel. Still, Brent crude managed to see a 27% improvement in November.

Much of the drop in crude futures came as investors waited on a decision from OPEC about possibly extending its crude production restrictions into 2021. Members met Monday and it was reported that a general agreement was reached to extend existing oil production cuts of 7.7 million barrels a day by another three months beginning in January.

Two of the Oklahoma stocks that took big hits in Monday’s trading were Mammoth Energy Services and Laredo Petroleum.

Mammoth took a 13% dive on a 29 cent loss as shares finally stopped falling at $1.96. Laredo Petroleum fell 11% following a $1.46 per-share drop to $11.81.

Alliance Resource Partners dropped 14 cents for a 3% tumble to $4.50 per share. Blueknight Energy Partners LP slipped one cent or about 1% to $1.69. Chesapeake Energy Corporation lost 25 cents a share for a decline of nearly 9% to $2.59.

Continental Resources, Inc. suffered a $1.50 loss which amounted to a drop of nearly 9% to $15.38 per share. Cypress Environmental Partners LP fell 13 cents or 5.20% to $2.37. Devon Energy Corp closed down 79 cents for a 5.35% loss to $13.99.
Enable Midstream Partners LP dropped a dime per share for a nearly 2% decline to $5.09. Gulfport Energy Corporation suffered a 10% decline with a penny loss to 10 cents a share.
Helmerich & Payne, Inc. closed down 98 cents to $22.77 for a drop of 4.13%. LSB Industries, Inc. slipped one cent to $2.51. Magellan Midstream Partners, L.P. finished down $1.37 or 3.22% and closed at $41.15. Matrix Service Co. dropped more than 8% or 85 cents per share to finish at $9.58.
NGL Energy Partners LP fell more than 6% with a 14-cent loss at $2.18. OGE Energy Corp. dropped $1.22 and closed at $32.39 for a decline of nearly 4%. ONE Gas Inc closed down 65 cents for nearly a 1% drop to $79.18.
ONEOK, Inc. settled at $35.87 following a loss of $1.28 or 3.45%. 
 Ovintiv Inc. finished down nearly 8% following a loss of $1.07 and settled at $12.76.
PHX Minerals Inc. fell 7 cents or 3.89% and finished the day at $1.73. SandRidge Energy Inc. suffered 7% decline following a 20 cent loss and settled at $2.67.
WPX Energy Inc dropped more than 5% on a 39 cent loss per share and finished the day at $7.12. Williams Companies Inc. lost 49 cents or 2.28% and closed at $20.98.
Other energy stocks didn’t perform well either according to the Texas Energy Report.

Chevron (CVX) down 4.13 at 87.18 – change 4.53%

Concho Resources (CXO) down 4.54 at 57.48 – change 7.33%

ConocoPhillips (COP) down 3.22 at 39.56 – change 7.33%

Diamondback Energy (FANG) down 3.56 at 39.96 – change 8.19%

Energy Transfer LP (ET) down 0.18 at 6.18 – change 2.84%

Enterprise Products Partners (EPD) down 0.53 at 19.39 – change 2.66%

EOG Resources (EOG) down 4.55 at 46.88 – change 8.85%

ExxonMobil (XOM) down 2.06 at 38.13 – change 5.13%

Kinder Morgan (KMI) down 0.37 at 14.38 – change 2.51%

Marathon Oil Corp. (MRO) down 0.43 at 5.92 – change 6.78%

National Oilwell Varco (NOV) down 0.89 at 12.26 – change 6.77%

Occidental Petroleum (OXY) down 0.80 at 15.76 – change 4.84%

Parsley Energy (PE) down 1.22 at 12.53 – change 8.88%

Phillips 66 (PSX) down 4.66 at 60.58 – change 7.13%

Pioneer Natural Resources (PXD) down 9.49 at 100.58 – change 8.63%

Valero (VLO) down 2.85 at 53.77 – change 5.04%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.03 at 84.89 – change 0.04%

CenterPoint (CNP) down 0.88 at 23.19 – change 3.66%

 

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