Energy Sector Declines

The recent downturn in oil has left the S&P 500 Energy sector down 7.5% year to date.  Investors who have built up positions in Energy names throughout oil's run-up this year surely have a sour taste in their mouths this month.  Since oil peaked on July 11th, the average S&P 1500 Energy stock is down 9.96%, while the S&P 1500 as a whole is up about 2%.

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Below we highlight the 25 worst performing S&P 1500 Energy stocks since the 7/11 intraday peak in oil.  As shown, Cabot Oil&Gas (COG) is down 24%, followed by Chesapeake Energy (CHK), Quicksilver Resources (KWK) and St. Mary Land & Exploration (SM) all down about 23%. 

Overall, 79 of the 85 stocks in the sector are down since 7/11.  If 7/11 turns out to be a longer-term peak in energy prices, it will prove to be the lucky day that superstitious investors were hoping for.

Comments

[Kunst:]

I bought Arch Coal (ACI) at $48.50 on 7/24/08. I think that will be a keeper.

2008 Jul 27 06:19 PM

[User 233324:]

What do you think about China National Petroleum Corp. purchasing a minority stake in Chesapeake Energy shale gas assets?
Johnny

2008 Jul 27 07:29 PM

[Ozarker:]

I say it's a free world, let em buy whatever they want. We've bought similar mineral rights all over the world, why shouldn't they?

2008 Jul 28 08:35 AM