Oil price rebound boosts Oklahoma energy stocks

Crude prices climb on optimism over output cut

 

After U.S. crude inventories fell more than expected, crude oil prices on Thursday rose more than $1 a barrel. Oklahoma energy stocks also had a good day in trading with some making 8% and 9% gains.

It gave increased optimism about global economic growth despite the coronavirus pandemic.

West Texas Intermediate crude finished up $1.40 or 2% and settled at $69.99 a barrel.

Global benchmark Brent crude also rose 2% with a $1.44 increase to finish the day at $73.03 a barrel on ICE Futures Europe.

Analysts indicated the rally pushed U.S. crude futures above a 50-day average for the first time in a month. Some see it as a sign of bullishness for investors.

The rally came after the Energy Information Administration announced Wednesday that U.S. crude inventories dropped by 7.2 million barrels last week.

Oklahoma energy stocks had a strong showing including Laredo  Petroleum with a more than 9% gain and 8% gains made by SandRidge Energy and Unit Corporation.

 

 Alliance Resource Partners, L.P.
NASDAQ: ARLP

8.99 USD +0.33 (3.81%)

 Blueknight Energy Partners LP Common Stock
NASDAQ: BKEP

3.26 USD +0.030 (0.93%)

Chesapeake Energy Ord Shs
NASDAQ: CHK

58.29 USD +1.68 (2.97%)

Cimarex Energy Co
NYSE: XEC

69.38 USD +3.81 (5.81%)

Continental Resources, Inc.
NYSE: CLR

38.71 USD +0.27 (0.70%)

Cypress Environmental Partners LP
NYSE: CELP

1.62 USD −0.020 (1.22%)

Devon Energy Corp
NYSE: DVN

29.32 USD +1.09 (3.86%)

 Enable Midstream Partners LP
NYSE: ENBL

8.14 USD +0.24 (3.04%)

Gulfport Energy Corp
NYSE: GPOR

69.00 USD +1.06 (1.56%)

Helmerich & Payne, Inc.
NYSE: HP

27.43 USD +0.43 (1.59%)

LSB Industries, Inc.
NYSE: LXU

8.28 USD +0.13 (1.60%)

 Laredo Petroleum Inc
NYSE: LPI

58.79 USD +4.90 (9.09%)

Magellan Midstream Partners, L.P.
NYSE: MMP

50.00 USD +0.16 (0.32%)

 Mammoth Energy Services Inc
NASDAQ: TUSK

3.63 USD +0.13 (3.71%)

Matrix Service Co
NASDAQ: MTRX

11.45 USD +0.16 (1.42%)

NGL Energy Partners LP
NYSE: NGL

1.76 USD +0.090 (5.39%)

OGE Energy Corp.
NYSE: OGE

35.96 USD +0.23 (0.64%)

ONE Gas Inc
NYSE: OGS

73.43 USD +0.63 (0.87%)

ONEOK, Inc.
NYSE: OKE

53.29 USD +1.21 (2.32%)

Ovintiv Inc
NYSE: OVV

28.45 USD +1.11 (4.06%)

PHX Minerals Inc
NYSE: PHX

2.49 USD +0.030 (1.22%)

SandRidge Energy Inc.
NYSE: SD

9.80 USD +0.73 (8.05%)

Units Ord Shs
OTCMKTS: UNTC

23.75 USD +1.75 (7.95%)

 Williams Companies Inc
NYSE: WMB

25.11 USD +0.45 (1.82%)

High oil prices 'temporary' - Kuwait Times

 

Other energy stocks made significant gains according to the Texas Energy Report.

Cabot Oil & Gas (COG) up 1.09 at 17.35 – change 6.70%

Chevron (CVX) up 2.00 at 97.71 – change 2.08%

ConocoPhillips (COP) up 1.95 at 56.60 – change 3.56%

Diamondback Energy (FANG) up 2.41 at 76.56 – change 3.24%

Energy Transfer LP (ET) up 0.23 at 9.67 – change 2.43%

Enterprise Products Partners (EPD) up 0.34 at 22.82 – change 1.51%

EOG Resources (EOG) up 2.00 at 68.36 – change 3.01%

ExxonMobil (XOM) up 1.31 at 55.08 – change 2.43%

Kinder Morgan (KMI) up 0.26 at 16.42 – change 1.60%

Marathon Oil Corp. (MRO) up 0.46 at 11.72 – change 4.08%

National Oilwell Varco (NOV) up 0.36 at 13.32 – change 2.77%

Occidental Petroleum (OXY) up 1.50 at 26.58 – change 5.98%

Phillips 66 (PSX) up 0.71 at 69.92 – change 1.02%

Pioneer Natural Resources (PXD) up 3.44 at 149.85 – change 2.34%

Valero (VLO) up 1.25 at 65.20 – change 1.95%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.43 at 90.93 – change 0.47%

CenterPoint (CNP) up 0.26 at 25.77 – change 1.01%

Entergy (ETR) up 1.18 at 113.71 – change 1.04%

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