Energy stocks took a broad dive Monday, as crude oil prices sold off amid concerns that the recent surge in new COVID-19 cases globally would sap demand. The SPDR Energy Select Sector ETF slumped 3.0%, and was the biggest decliner among SPDR ETFs tracking the S&P 500’s 11 key sectors, with all 25 equity components losing ground.
Oklahoma energy companies and those that do extensive business in the state suffered as well with Ovintiv Inc. suffering one of the biggest falls as its stocks fell 8.43% or 84 cents before sliding to a stop at $9.13 per share.
NGL Energy Partners lost 31 cents per share for a huge fall of 7.79% to end the day at $3.61.
One of the few to see an increase was Tulsa’s coal mining company, Alliance Resource Partners which gained 24 cents for a nearly 8% increase to $3.36. Blueknight Energy Partners dropped 5 cents for a decline of 3.52% to $1.37. Chesapeake Energy ended down 14 cents or 3.47% at $4.03.
Chevron (CVX) down 1.63 at 70.94 – change 2.25%
Concho Resources (CXO) down 3.18 at 43.79 – change 6.78%
ConocoPhillips (COP) down 2.23 at 30.32 – change 6.83%
Diamondback Energy (FANG) down 1.51 at 27.52 – change 5.19%
Energy Transfer LP (ET) down 0.12 at 6.18 – change 1.91%
Enterprise Products Partners (EPD) down 0.32 at 17.30 – change 1.82%
EOG Resources (EOG) down 2.58 at 34.93 – change 6.88%
ExxonMobil (XOM) down 0.81 at 33.35 – change 2.38%
Kinder Morgan (KMI) down 0.40 at 12.38 – change 3.13%
Marathon Oil Corp. (MRO) down 0.31 at 4.13 – change 6.99%
National Oilwell Varco (NOV) down 0.26 at 8.93 – change 2.83%
Occidental Petroleum (OXY) down 0.57 at 9.46 – change 5.59%
Parsley Energy (PE) down 0.40 at 10.29 – change 3.75%
Phillips 66 (PSX) down 2.34 at 48.14 – change 4.64%
Pioneer Natural Resources (PXD) down 2.74 at 82.80 – change 3.21%
Valero (VLO) down 2.44 at 39.54 – change 5.79%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) up 1.71 at 93.59 – change 1.86%
Apache Corp.’s stock APA, -7.75% was the ETF’s (XLE) biggest decliner, as it dropped 6.3% toward a 6-month low. Among other more active XLE components, shares of Marathon Oil Corp. MRO, -6.98% slid 5.3%, Occidental Petroleum Corp. OXY, -5.58% shed 4.2%, Exxon Mobil Corp. XOM, -2.37% slid 2.8%, Halliburton Co. HAL, -3.90% declined 3.2% and Schlumberger NV SLB, -1.49% gave up 3.2%. Meanwhile, crude oil futures CL00, -3.21% fell 3.3% to a 3-week low.
Source: MarketWatch