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Crude oil prices fell over the last week, in defiance of the S&P 500 which actually increased. The price proved to be rather volatile though as it fell sharply immediately following Monday's open and then slowly began to rebound over the remainder of week. The price of crude did fail to regain the level that it held at Monday's open. As usual, however, each of the six oil stocks that I track in this weekly update series reacted differently to the market movement.

Statoil (NYSE:STO) opened at $23.05 on June 11, 2012. The stock closed at $23.45 in after hours trading on June 15, 2012. Stockholders in the company thus saw a gain of $0.40 per ADR share or 1.74% over the week. Statoil opened at $23.26 on May 21, 2012. This gives the stock a four-week gain of $0.19 or 0.82%. The company's stock performance does not appear to be considering the company's double-digit year over year production growth. It is most certainly undervalued at this level.

STO 5-Day Chart (click to enlarge)
Source: Fidelity Investments

STO 4-Week Chart (click to enlarge)
Source: Fidelity Investments

BP plc (NYSE:BP) opened the week at $39.07. The stock closed at $40.22 in after hours trading on June 15. This gives BP shareholders a gain of $1.15 or 2.94% over the week. BP opened at $37.58 on May 21. Thus, shareholders of BP stock experienced a gain of $2.64 or 7.03% over the four-week period.

BP 5-Day Chart (click to enlarge)
Source: Fidelity Investments

BP 4-Week Chart (click to enlarge)
Source: Fidelity Investments

Total S.A. (NYSE:TOT) opened on June 11, 2012 at $44.14 per share. The stock closed at $44.14 in after hours trading on June 15. Thus, Total stock was completely flat over the week. Total opened on May 25 at $44.08. Thus, stockholders have seen a gain of $0.06 or 0.14% over the past four weeks. Total's stock has been much flatter than its peers in recent weeks. It is possible that the stock has hit a bottom, assuming that there are no significant declines in oil prices going forward. A falling oil price still has the potential to push the stock down further.

TOT 5-Day Chart (click to enlarge)
Source: Fidelity Investments

TOT 4-Week Chart (click to enlarge)
Source: Fidelity Investments

Suncor (NYSE:SU) opened on June 11 at $28.76. The stock closed at $28.50 in after hours trading on June 15. This gives the stock a loss of $0.26 or 0.90% for the week. The stock opened on May 21, 2012 at $26.96. Thus, Suncor stock has seen a gain of $1.54 or 5.71% over the four week period. Suncor went ex-dividend on May 31. Shareholders as of that date will receive a dividend of $0.13 per share. Thus, Suncor's four-week return was $1.67 per share or 6.19% when the dividend is considered. As with Statoil, the market does not appear to be appreciating the growth potential here. This stock is also undervalued. Suncor is also proving to be much more volatile than many of the other companies here. Thus, the stock may deliver bigger gains than its peers in environments of rising oil or market prices but may also see greater declines when oil or market prices fall.

SU 5-Day Chart (click to enlarge)
Source: Fidelity Investments

SU 4-Week Chart (click to enlarge)
Source: Fidelity Investments

Royal Dutch Shell (NYSE:RDS.A) opened at $63.72 on June 11. The stock closed at $66.52 in after hours trading on Friday, June 15. This gives shareholders a gain of $2.80 or 4.40% for the week. The stock opened at $62.75 on May 21, 2012. Shareholders thus saw a capital gain of $3.77 per share or 6.01% over the four-week period.

RDS.A 5-Day Chart (click to enlarge)
Source: Fidelity Investments

RDS.A 4-Week Chart (click to enlarge)
Source: Fidelity Investments

Eni (NYSE:E) opened at $40.56 on June 11. The stock closed at $41.11 in after hours trading on Friday, June 15. This gives shareholders a gain of $0.55 or 1.36% for the week. The stock opened at $39.08 on May 21, 2012. Shareholders thus experienced a gain of $2.03 per share or 5.19% over the four-week period. Eni went ex-dividend on Monday, May 21. Shareholders as of that date will receive a dividend of approximately $1.03. The total four-week return was a gain of approximately $3.06 or 7.83% over the four-week period when the dividend is considered.

E 5-Day Chart (click to enlarge)
Source: Fidelity Investments

E 4-Week Chart (click to enlarge)
Source: Fidelity Investments

Royal Dutch Shell was the best performing stock this week, although shareholders in every one of these six companies except for Suncor saw a gain over the past week. This is especially surprising considering that oil prices were down over the past week (although the overall market as measured by the S&P 500 was up). In general, these six stocks tend to have returns that are correlated to the price of crude oil. Eni was the best performing stock over the four-week period with BP in second place. Suncor was the worst performing stock over the past week and the only one of the six that saw a capital loss, albeit a small one. Total was the worst performing stock of these six over the four-week period as it was almost completely flat over the period. All six of the stocks experienced a positive return over the past four weeks.

Source: Weekly Performance Update On 6 Foreign Integrated Oil And Gas Companies