Crude oil and energy stocks suffered more losses in Tuesday’s trading

  • December 22, 2020

 

First it was news of a fast-spreading new coronavirus strain in Britain that apparently resulted in falling oil prices in Monday’s trading. Then came news of a similar mutated strain in South Africa and on Tuesday, energy stocks suffered even more losses.

West Texas Intermediate crude for January delivery fell 5 cents to $47.02 per barrel, a nearly 2% drop in trading on the New York Mercantile Exchange.

Global benchmark Brent Crude for February delivery plunged $1.10 to $49.81 in trading on the ICE Futures Europe. The drop amounted to a slide of 2.16%.

Checking Oklahoma stocks, Alliance Resource Partners fell 7% or 32 cents to finish the day at $4.53. Blueknight Energy Partners couldn’t maintain the huge jump it received Monday in announcing the $162 million sale of some of its operations as its shares on Tuesday suffered a 4% decline on an 8 cent loss to $2.11.

Chesapeake Energy lost 9 cents or more than 4% to fall to $1.95. Cypress Environmental Partners lost two cents or about 1% to settle at $2.36 per share. Devon Energy Corp lost 47 cents for a more than 3% fall to $14.83.

Enable Midstream Partners LP closed down 4 cents at $5.39 for about a 1% drop. Gulfport Energy Corporation finished at 5 cents a share for a more than 7% tumble. Helmerich & Payne, Inc. dropped 12 cents to $24.05.
LSB Industries, Inc. fell 13 cents for a drop of nearly 5% to $2.70. Laredo Petroleum Inc closed down 53 cents at $19.44 for a drop of nearly 3%. Magellan Midstream Partners, L.P. lost 14 cents to finish the day at $43.12.
Matrix Service Co saw a 21 cent gain of more than 2% to close at $10.26 per share. NGL Energy Partners LP dropped 2 cents or about 1% to finish at $2.62. OGE Energy Corp. tacked on 21 cents for about a 1% gain to $30.69.
ONE Gas Inc jumped 20 cents to close at $75.92. ONEOK, Inc. finished down 75 cents for a 2% loss to $38.63. Ovintiv Inc dropped 55 cents or about 4% to $13.82.
PHX Minerals Inc fell 10 cents or more than 4% to $2.16 per share. SandRidge Energy Inc. shares increased 5 cents or about 2% to $3.18.
WPX Energy Inc lost 28 cents and fell 3.55% to $7.61. Williams Companies Inc fell 10 cents or about a half-a-point to $20.61.
Other energy companies had the same issue according to the Texas Energy Report.

Chevron (CVX) down 1.73 at 84.36 – change 2.01%

Concho Resources (CXO) down 1.80 at 56.77 – change 3.08%

ConocoPhillips (COP) down 1.21 at 39.03 – change 3.01%

Diamondback Energy (FANG) down 0.97 at 44.05 – change 2.16%

Energy Transfer LP (ET) down 0.15 at 6.46 – change 2.13%

Enterprise Products Partners (EPD) down 0.04 at 20.18 – change 0.20%

EOG Resources (EOG) down 1.23 at 48.85 – change 2.46%

ExxonMobil (XOM) down 0.71 at 41.24 – change 1.70%

Kinder Morgan (KMI) down 0.21 at 13.78 – change 1.51%

Marathon Oil Corp. (MRO) down 0.24 at 6.31 – change 3.67%

National Oilwell Varco (NOV) down 0.21 at 13.09 – change 1.58%

Occidental Petroleum (OXY) down 0.56 at 16.92 – change 3.15%

Parsley Energy (PE) down 0.24 at 13.50 – change 1.75%

Phillips 66 (PSX) up 1.02 at 67.51 – change 1.53%

Pioneer Natural Resources (PXD) down 2.46 at 108.44 – change 2.21%

Valero (VLO) down 0.35 at 53.70 – change 0.65%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 0.72 at 81.40 – change 0.88%

CenterPoint (CNP) down 0.23 at 20.82 – change 1.10%

Entergy (ETR) down 1.01 at 96.01- change 1.05%

 

Jerry Bohnen