On the day Joe Biden was sworn in as President, Oklahoma energy stocks took a nose dive. Whether it reflected a lack of enthusiasm by the oil and gas industry for the green-minded President or the spread of the COVID-19 pandemic, it didn’t matter.
What mattered was that energy stocks suffered serious losses including a nearly 11% plunge by Oklahoma’s Gulfport Energy Corporation, which was struggling anyway in the middle of its bankruptcy. Its shares dropped to 9 cents each.
Put NGL Energy Partners LP in the same category because its shares lost 26 cents for a 9% drop to $2.61. Chesapeake Energy Corporation was in the big-drop category too as its stock lost 8% or 26 cents each before finishing Wednesday’s trading at $2.98.
As for crude oil futures, they were up slightly in the US and overseas.
West Texas Intermediate crude for February delivery rose just 26 cents to finish Wednesday at $53.24 a barrel in trading on the New York Mercantile Exchange.
Global benchmark Brent Crude for March delivery finished up 18 cents at $56.08 in trading on ICE Futures Europe.
Alliance Resource Partners, L.P. lost 18 cents or 3.15% to settle at $5.54.
Blueknight Energy Partners LP Common Stock dropped 4 cents for a nearly 2% slide to $2.03.
Cimarex Energy Co. dropped 51 cents for a more than 1% slip to $48.69.
Continental Resources, Inc. saw a 29 cent increase or 1.48% to $19.93,
Cypress Environmental Partners LP dropped nearly 5% after stocks lost 14 cents to $2.82.
Devon Energy Corp slipped 3 cents or 0.17% to $19.97.
Enable Midstream Partners LP lost 28 cents or about 5% to $5.68.
Helmerich & Payne, Inc. had a 2 cent increase to $26.
LSB Industries, Inc. dropped 5 cents or 1.39% to settle at $3.55.
Laredo Petroleum Inc lost $1.61 and closed at $26.23 for a nearly 6% loss.
Magellan Midstream Partners, L.P. finished up 6 cents for a 1.31% gain to $46.45.
Mammoth Energy Services Inc dropped 17 cents or 3.50% to $4.69.
Matrix Service Co finished up 3 cents at $13.90.
OGE Energy Corp. saw a 27 cent increase for a 1% gain to $31.36.
ONE Gas Inc dropped 35 cents for a half-point loss to $71.00
ONEOK, Inc. lost 10 cents a share to settle at $44.01.
Ovintiv Inc added one cent and closed at $17.55 for the day
PHX Minerals Inc finished up 2 cents for a nearly 1% gain to $3.25.
SandRidge Energy Inc. lost 3 cents for a nearly 15 slide to $5.08.
Williams Companies Inc finished down 2 cents a share at $22.43.
Other energy companies suffered losses on inauguration day according to a review by the Texas Energy Report.
Chevron (CVX) up 0.87 at 95.38 – change 0.92%
ConocoPhillips (COP) down 0.64 at 45.36 – change 1.40%
Diamondback Energy (FANG) up 0.60 at 60.62 – change 0.99%
Energy Transfer LP (ET) down 0.02 at 6.83 – change 0.30%
Enterprise Products Partners (EPD) down 0.23 at 23.06 – change 0.99%
EOG Resources (EOG) down 0.29 at 60.20 – change 0.47%
ExxonMobil (XOM) up 0.69 at 49.53 – change 1.41%
Kinder Morgan (KMI) up 0.04 at 15.59 – change 0.25%
Marathon Oil Corp. (MRO) up 0.05 at 8.61 – change 0.58%
National Oilwell Varco (NOV) down 0.22 at 13.66 – change 1.59%
Occidental Petroleum (OXY) down 0.05 at 23.02 – change 0.22%
Phillips 66 (PSX) up 0.61 at 75.39 – change 0.81%
Pioneer Natural Resources (PXD) up 0.09 at 132.13 – change 0.06%
Valero (VLO) up 0.03 at 60.57 – change 0.04%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 0.04 at 80.75 – change 0.04%
CenterPoint (CNP) down 0.21 at 21.48 – change 0.97%
Entergy (ETR) down 0.40 at 94.72 – change 0.43%
