Oil, gas and energy stocks had a massive ‘down’ day on Friday

  • November 6, 2020

As the U.S. held its collective breath awaiting the outcome of the presidential election and races for the House and Senate, investors apparently didn’t like what they saw and as a result oil and gas futures dropped in Friday’s trading.

There’s only one word to describe what happened to Oklahoma and related energy stocks—DOWN!

West Texas Intermediate crude on the December contract dropped $1.65 for a 4.15% slide to $37.14 a barrel.

Brent crude, considered the global benchmark dropped $1.48 or 3.62% before settling at $39.45 in trading on ICE futures Europe.

National gas also dropped, falling 5 cents for a 1.84% change to $2.89 per MMBtu.

But the energy stocks suffered badly, such as LSB Industries which dropped more than 14% after falling 31 cents and finishing the day at $1.86 per share.

Alliance Resource Partners, L.P. dropped 5 cents or 1.52% to settle at $3.25 per share. Blueknight Energy Partners LP fell 3.33% or 5 cents a share down to $1.45. Chesapeake Energy Corporation slid 23 cents for a 6.36% fall to $3.46.

Continental Resources, Inc. suffered an 8% fall of $1.06 and ended the day at $12.24. Cypress Environmental Partners LP finished at $1.90, down a dime for a 5% fall. Devon Energy Corp. closed down 28 cents or about 3% at $9.77.

Enable Midstream Partners LP dropped 18 cents or about 4% to settle at $4.37. Helmerich & Payne, Inc. slid 46 cents for a 2.95% fall to $15.15. Laredo Petroleum Inc. dropped 6 cents for a 1% decline to $8.93.

Magellan Midstream Partners, L.P. fell $1.36 or 3.82% to $34.25. Mammoth Energy Services Inc. slipped 3 cents which amounted to a 1.67% fall to $1.77. Matrix Service Co. dropped 14 cents or 1.68% to $8.21.

OGE Energy Corp. slid 29 cents to finish at $31.68 a share—a nearly 1% fall. ONE Gas Inc. closed down 73 cents at $71.01 for a 1% downward slide. ONEOK, Inc. dropped about 6% or $1.65 to finish at $26.89.

Ovintiv Inc. dropped 17 cents for a 1.79% decline to $9.34. PHX Minerals Inc. fell 5 cents or 3.13% to $1.55. SandRidge Energy Inc. closed down 12 cents at $2.11 a share—a 5.38% fall.
WPX Energy Inc. finished the day at $5.10, down 12 cents or 2.30%. Williams Companies Inc. fell more than 4% or 85 cents to close at $18.26.
The Texas Energy Report had other results and they weren’t pretty.

Chevron (CVX) down 0.99 at 71.15 – change 1.38%

Concho Resources (CXO) down 1.24 at 42.39 – change 2.85%

ConocoPhillips (COP) down 0.93 at 29.19 – change 3.09%

Diamondback Energy (FANG) down 1.46 at 24.74 – change 5.58%

Energy Transfer LP (ET) down 0.25 at 5.11 – change 4.67%

Enterprise Products Partners (EPD) down 0.45 at 16.64 – change 2.64%

EOG Resources (EOG) down 1.02 at 34.58 – change 2.87%

ExxonMobil (XOM) down 0.39 at 32.78 – change 1.18%

Kinder Morgan (KMI) down 0.42 at 11.48 – change 3.53%

Marathon Oil Corp. (MRO) down 0.16 at 4.13 – change 3.73%

National Oilwell Varco (NOV) down 0.30 at 9.00 – change 3.23%

Occidental Petroleum (OXY) down 0.46 at 10.01 – change 4.40%

Parsley Energy (PE) down 0.32 at 9.57 – change 3.24%

Phillips 66 (PSX) down1.51 at 46.68 – change 3.14%

Pioneer Natural Resources (PXD) down 2.25 at 77.34 – change 2.82%

Valero (VLO) down 1.36 at 38.17 – change 3.45%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.21 at 90.92 – change 0.23%

Jerry Bohnen