More energy stock losses

  • January 21, 2021

 

Day two of the Biden administration and his moves to eliminate the Keystone XL pipeline and to rejoin the Paris Climate Accord might have sent the wrong signals to investors in Oklahoma energy stock.

Many suffered losses for a second consecutive day with two notable exceptions.

Chesapeake Energy Corporation saw a 34% gain as shares increased $1.02 to finish the day at $4.

NGL Energy Partners LPL recorded a nearly 21% gain when stocks rose 54 cents and closed at $3.14.

Otherwise it was a down day for most Oklahoma stocks as they followed a drop in US crude oil futures.

West Texas Intermediate crude for February delivery fell 11 cents to $53.13 a barrel in trading on the New York Mercantile Exchange.

Global benchmark Brent crude for March delivery rose a modest 2 cents before settling at $56.10 a barrel in trading on the ICE Futures Europe.

Here’s the list of many Oklahoma firms that saw their stock drop in Thursday’s trading.

Alliance Resource Partners, L.P. dropped more than 5% as shares fell 29 cents to $5.25.
Blueknight Energy Partners LP fell one cent for a half-point slide to $2.02.
Cimarex Energy Co dropped about 9% when shares fell $4.20 to close at $44.50.
Continental Resources, Inc. closed down $1.02 for a more than 5% fall to $18.91.
Cypress Environmental Partners LP finished the day unchanged at $2.83.
Devon Energy Corp suffered an 8% fall as stocks dropped $1.58 to $18.39.
Enable Midstream Partners LP dropped about 2% following a 10 cent fall to $5.58.
Gulfport Energy Corporation fell more than 2% to 9 cents a share.
Helmerich & Payne, Inc. dropped 5.46% as shares fell $1.42 to $24.58.
LSB Industries, Inc. finished up 14 cents for a 4% gain to $3.71.
Laredo Petroleum Inc closed down $1.92 for a more than 7% loss to $24.35.
Magellan Midstream Partners, L.P. fell 4 cents to $46.38.
Mammoth Energy Services Inc dropped 2.56% when shares fell 12 cents to $4.57.
Matrix Service Co suffered a nearly 5% loss when stock fell 64 cents to settle at $13.26.
OGE Energy Corp. lost 7 cents to close at $31.30.
ONE Gas Inc lost half a point as shares dropped 39 cents to $70.62.
ONEOK, Inc. lost $1.15 for a nearly 3% slip to $42.87.
Ovintiv Inc lost about 35 when stocks dropped 50 cents to $17.05.
 PHX Minerals Inc suffered a more than 6% loss when stocks fell 20 cents to $3.05.
Williams Companies Inc lost 3.35% as shares fell 75 cents to $21.67.

Checking other energy stocks, here is what the Texas Energy Report showed on Thursday.

Chevron (CVX) down 3.37 at 92.01 – change 3.54%

ConocoPhillips (COP) down 2.17 at 43.19 – change 4.79%

Diamondback Energy (FANG) up 0.16 at 60.78 – change 0.26%

Energy Transfer LP (ET) down 0.21 at 6.62 – change 3.08%

Enterprise Products Partners (EPD) down 0.64 at 22.42 – change 2.78%

EOG Resources (EOG) down 5.17 at 55.03 – change 8.59%

ExxonMobil (XOM) up 1.42 at 48.11 – change 2.87%

Kinder Morgan (KMI) down 0.33 at 15.26 – change 2.12%

Marathon Oil Corp. (MRO) down 0.37 at 8.25 – change 4.30%

National Oilwell Varco (NOV) down 0.27 at 13.39 – change 1.98%

Occidental Petroleum (OXY) down 1.48 at 21.54 – change 6.43%

Phillips 66 (PSX) down 2.23 at 73.16 – change 2.96%

Pioneer Natural Resources (PXD) down 2.13 at 130.00 – change 1.67%

Valero (VLO) down 1.71 at 58.86 – change 2.83%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.22 at 80.97 – change 0.27%

CenterPoint (CNP) up 0.21 at 21.69 – change 0.97%

Entergy (ETR) down 1.05 at 93.67 – change 1.11%

Jerry Bohnen