Energy stocks soared as crude futures hit 3-month high

 

As crude oil futures rose to a 3-month high in Monday’s trading because of high hopes the potential COVID-19 vaccine will help turn the world’s economy around, Oklahoma energy stocks rebounded with huge steps.

West Texas Intermediate crude didn’t hit the high. Instead it slipped 2 cents and settled at $43.04 in Monday’s trading.

But global benchmark Brent crude shot up $1.10 to finish at $46.06, which represented a 2.05% gain on ICE Futures Europe.

Natural gas increased 6 cents or 3.07% and settled at $2.71 per MMBtu on the New York Mercantile Exchange.

In several cases, stocks shot up 10 to 14% including Tulsa’s Helmerich and Payne where shares closed up $2.90 or 14.38% and settled at $23.06. Cypress Environmental Partners LP settled at $2.61, up 33 cents per share for an increase of 14.47%.

Continental Resources, Devon Energy and WPX Energy all saw at least 10% increases in their shares.

Continental finished at $16.84, up $1.66 or nearly 11%. Devon Energy rose more than 10% or $1.32 to settle at $14.48. WPX Energy closed at $7.44 following a 70 cent increase that translated into a gain of 10.39%.

They joined two other big gainers, Occidental Petroleum Corp. where stocks soared 15.5% and Diamondback Energy Inc. where shares rose nearly 11%. Halliburton finished up 9%.

Others might not have seen such large hikes, but they still saw increases.

Alliance Resource Partners, L.P. rose 16 cents for a 4% gain to $4.18 per share. Blueknight Energy Partners LP slipped 2 cents for a 1.23% slide to $1.61. Chesapeake Energy Corporation closed down 6 cents for a 2.12% fall to $3.

Enable Midstream Partners LP had a nearly 9% gain with a 46 cent increase t o $5.67. Gulfport Energy Corporation gave up 1 penny for a nearly 8% loss to 13 cents while it wades through Chapter 11 bankruptcy. LSB Industries, Inc. closed down 1 cent at $2.09.

Laredo Petroleum Inc. added 45 cents for a gain of 4.13% at $11.34. Magellan Midstream Partners, L.P. saw a 3.19% gain with a pickup of $1.33 per share to settle at $43.03. Mammoth Energy Services Inc. closed down one cent at $2.24.

Matrix Service Co. closed up 14 cents for a gain of 1.39% and settled at $10.20. NGL Energy Partners LP finished at $2.72 following a 6 cent or 2.26% gain. OGE Energy Corp. closed up 34 cents for a gain of 1% to finish at $34.07.

ONE Gas Inc. saw a gain of $1.38 or 1.80% to end the day at $78.12. ONEOK, Inc. gained $2.22 per share or nearly 7% to finish Tuesday at $35.18. Ovintiv Inc. finished at $13.03 following an 83 cent increase or gain of 6.80%.

The 11 cent gain for PHX Minerals amounted to a 6.17% increase to $1.78 per share. SandRidge Energy Inc. saw a 20 cent increase or more than 7% gain to close at $2.88. Williams Companies Inc. rose 94 cents a share for a gain of 4.62% and closed at $21.28.

The Texas Energy Report had other stocks.

Chevron (CVX) up 5.24 at 91.03 – change 6.10%

Concho Resources (CXO) up 4.51 at 61.97 – change 7.86%

ConocoPhillips (COP) up 3.06 at 42.71 – change 7.71%

Diamondback Energy (FANG) up 4.65 at 44.49 – change 11.67%

Energy Transfer LP (ET) up 0.35 at 6.43 – change 5.75%

Enterprise Products Partners (EPD) up 0.77 at 19.76 – change 4.05%

EOG Resources (EOG) up 4.99 at 50.38 – change 10.99%

ExxonMobil (XOM) up 2.42 at 39.36 – change 6.55%

Kinder Morgan (KMI) up 0.37 at 14.62 – change 2.59%

Marathon Oil Corp. (MRO) up 0.56 at 6.17 – change 10.17%

National Oilwell Varco (NOV) up 0.97 at 13.28 – change 7.87%

Occidental Petroleum (OXY) up 2.27 at 15.76 – change 16.82%

Parsley Energy (PE) up 1.06 at 13.12 – change 8.78%

Phillips 66 (PSX) up 4.25 at 65.84 – change 6.90%

Pioneer Natural Resources (PXD) up 8.69 at 104.50 – change 9.87%

Valero (VLO) up 5.27 at 56.09 – change 10.36%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.92 at 83.41 – change 1.11%

CenterPoint (CNP) up 0.52 at 23.98 – change 2.21%

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