Energy stocks rebounded on Friday while crude futures did not

  • November 13, 2020

 

As crude oil futures dropped on Friday, just the opposite happened for energy stocks of Oklahoma companies and those that have operations in the state. Increases came after a dramatic increase earlier in the week followed by a tumble in the prices of shares on Thursday.

West Texas Intermediate crude for December contracts dropped 99 cents for a 2.41% change to $40.13.

Global benchmark Brent crude slipped 75 cents for a decline of 1.72% and settled at $42.78 on ICE futures Europe.

Natural gas however, rose 2 cents and finished at $3 per MMBtu.

The energy companies had a better day.

NGL Energy Partners LP soared 8% with an 18-cent increase as shares settled at $2.49 for the day.

Ovintiv Inc., based in Houston and considered to be one of the largest oil producers in Oklahoma saw its stock jump nearly 7% with a 72 cent-a-share gain to reach $11.07. It was followed by a nearly 7% climb of shares in Alliance Resource Partners, L.P. where prices increased 22 cents and settled at $3.53 for the day. Blueknight Energy Partners LP also had a 7% gain following a 10-cent increase in its shares before finishing the day at $1.58.

Most other energy stocks in the state saw increases with a few exceptions like Chesapeake Energy where stocks dropped 13 cents a share for a 3.83% decline to $3.26.

But Continental Resources rose 38 cents for a nearly 3% gain to $13.96. Cypress Environmental Partners LP increased 10 cents or more than 5% to settle at $2.08. Devon Energy Corp gained 56 cents for a 5.04% increase to $11.78.

Enable Midstream Partners LP added 25 cents for a gain of 5.20% and the company finished at $5.16. Helmerich & Payne, Inc. finished at $17.27, up 73 cents for a gain of 4.41%. LSB Industries, Inc. closed up 7 cents at $1.98 for a 3.66% gain.

Laredo Petroleum Inc. finished up 45 cents or 4.37% at $10.74. 
Magellan Midstream Partners, L.P. saw a gain of $1.31 or 3.40% and settled at $39.89. Mammoth Energy Services Inc. finished at $1.63, up a penny or about 1%.
Matrix Service Co. rose 32 cents or 3.59% to finish at $9.24. OGE Energy Corp. closed up $1.23 or 3.76% and finished at $33.96. ONE Gas Inc. closed at $76.44, up $2.21 or 2.98%.
ONEOK, Inc. saw a gain of 89 cents or about 3% to finish at $31.66. PHX Minerals Inc. closed up 6 cents or about 4% at $1.64.
WPX Energy Inc. settled at $6.06 for a nearly 6% increase or 34 cent gain. Williams Companies Inc. settled at $20.04 for the day with a 70 cent or 3.62% gain.
 The Texas Energy Report listed how other companies performed in Friday’s trading.

Chevron (CVX) up 2.36 at 83.03 – change 2.92%

Concho Resources (CXO) up 1.95 at 51.22 – change 3.95%

ConocoPhillips (COP) up 1.35 at 35.36 – change 3.96%

Diamondback Energy (FANG) up 1.94 at 33.60 – change 6.12%

Energy Transfer LP (ET) up 0.06 at 5.36 – change 1.13%

Enterprise Products Partners (EPD) up 0.43 at 18.51 – change 2.37%

EOG Resources (EOG) up 2.18 at 42.67 – change 5.38%

ExxonMobil (XOM) up 0.85 at 36.08 – change 2.31%

Kinder Morgan (KMI) up 0.42 at 13.13 – change 3.30%

Marathon Oil Corp. (MRO) up 0.24 at 5.05 – change 4.97%

National Oilwell Varco (NOV) up 0.48 at 10.98 – change 4.57%

Occidental Petroleum (OXY) up 0.49 at 11.80 – change 4.33%

Parsley Energy (PE) up 0.60 at 10.37 – change 5.57%

Phillips 66 (PSX) up 3.91 at 58.76 – change 7.12%

Pioneer Natural Resources (PXD) up 4.40 at 90.67 – change 5.10%

Valero (VLO) up 3.64 at 50.92 – change 7.69%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.23 at 89.87 – change 0.26%

 

Jerry Bohnen