Energy stocks suffer broad selloff as crude oil prices drop toward 7-month low

Shares of energy companies took a broad beating Monday, as crude oil futures sank toward seven-month lows amid demand concerns as China's economy slows. The SPDR Energy Select Sector ETF /zigman2/quotes/206420077/composite XLE -1.99% dropped 4.2% in morning trading, with all 21 equity components losing ground, after closing Friday at a two-month high. The component losses ranged from Kinder Morgan Inc.'s /zigman2/quotes/208455654/composite KMI -2.53% 2.6% decline to Halliburton Co.'s /zigman2/quotes/210488727/composite HAL -1.80% 5.6% fall. Elsewhere, shares of Chevron Corp. /zigman2/quotes/205871374/composite CVX -1.23% slid 3.6% to pace the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA -0.22% decliners. Among the other more-active components, shares of Exxon Mobil Corp. /zigman2/quotes/204455864/composite XOM -1.66% shed 4.2%, Occidental Petroleum Corp. /zigman2/quotes/207018272/composite OXY -3.98% slumped 4.5%, Devon Energy Corp. /zigman2/quotes/209479244/composite DVN -4.30% gave up 5.1% and Marathon Oil Corp. /zigman2/quotes/205031829/composite MRO -4.34% declined 5.4%. Meanwhile, continuous crude oil futures /zigman2/quotes/209723049/delayed CL00 -0.75% were down 5.3% toward the lowest settlement since Jan. 28, and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.0079% lost 0.4%.

/zigman2/quotes/206420077/composite

Add to watchlist XLE

Energy Select Sector SPDR ETF

US : U.S.: NYSE Arca

$ 88.59

-1.80 -1.99%

Volume: 25.30M

Oct. 2, 2023 4:00p

/zigman2/quotes/208455654/composite

Add to watchlist KMI

Kinder Morgan Inc.

US : U.S.: NYSE

$ 16.16

-0.42 -2.53%

Volume: 16.62M

Oct. 2, 2023 4:00p

P/E Ratio

14.55

Dividend Yield

6.99%

Market Cap

$36.94 billion

Rev. per Employee

$1.54M

/zigman2/quotes/210488727/composite

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Halliburton Co.

US : U.S.: NYSE

$ 39.77

-0.73 -1.80%

Volume: 6.58M

Oct. 2, 2023 4:00p

P/E Ratio

14.66

Dividend Yield

1.61%

Market Cap

$36.39 billion

Rev. per Employee

$498,089

/zigman2/quotes/205871374/composite

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Chevron Corp.

US : U.S.: NYSE

$ 166.54

-2.08 -1.23%

Volume: 6.84M

Oct. 2, 2023 4:02p

P/E Ratio

10.57

Dividend Yield

3.63%

Market Cap

$321.66 billion

Rev. per Employee

$4.88M

/zigman2/quotes/210598065/realtime

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Dow Jones Industrial Average

US : Dow Jones Global

33,433.35

-74.15 -0.22%

Volume: 0.00

Oct. 2, 2023 5:21p

/zigman2/quotes/204455864/composite

Add to watchlist XOM

Exxon Mobil Corp.

US : U.S.: NYSE

$ 115.63

-1.95 -1.66%

Volume: 14.39M

Oct. 2, 2023 4:02p

P/E Ratio

9.25

Dividend Yield

3.15%

Market Cap

$470.70 billion

Rev. per Employee

$5.82M

/zigman2/quotes/207018272/composite

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Occidental Petroleum Corp.

US : U.S.: NYSE

$ 62.30

-2.58 -3.98%

Volume: 10.86M

Oct. 2, 2023 4:00p

P/E Ratio

10.58

Dividend Yield

1.16%

Market Cap

$57.40 billion

Rev. per Employee

$2.62M

/zigman2/quotes/209479244/composite

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Devon Energy Corp.

US : U.S.: NYSE

$ 45.65

-2.05 -4.30%

Volume: 10.40M

Oct. 2, 2023 4:00p

P/E Ratio

6.25

Dividend Yield

7.56%

Market Cap

$30.56 billion

Rev. per Employee

$9.33M

/zigman2/quotes/205031829/composite

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Marathon Oil Corp.

US : U.S.: NYSE

$ 25.59

-1.16 -4.34%

Volume: 11.93M

Oct. 2, 2023 4:00p

P/E Ratio

8.07

Dividend Yield

1.52%

Market Cap

$16.20 billion

Rev. per Employee

$4.24M

/zigman2/quotes/209723049/delayed

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Crude Oil Continuous Contract

US : U.S.: Nymex

$ 88.15

-0.67 -0.75%

Volume: 6,174

Oct. 2, 2023 9:21p

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

4,288.39

+0.34 +0.0079%

Volume: 0.00

Oct. 2, 2023 5:21p