Bulletin
Investor Alert

Market Pulse Archives

Oct. 3, 2022, 11:55 a.m. EDT

Energy stocks surge as oil prices jump, led by Marathon Petroleum's biggest gain in over a year

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    S&P 500 Index (SPX)
  • X
    Energy Select Sector SPDR ETF (XLE)
  • X
    Marathon Oil Corp. (MRO)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

The S&P 500's /zigman2/quotes/210599714/realtime SPX -1.79% energy sector saw a unanimous rally in midday trading Monday, as reports that an large oil-producing cartel plans to cut production provided a big lift to crude oil prices. The SPDR Energy Select Sector exchange-traded fund /zigman2/quotes/206420077/composite XLE -2.97% ran up 5.0% with all 21 components gaining ground. The ETF's biggest gainer was Marathon Oil Corp.'s stock /zigman2/quotes/205031829/composite MRO -4.10% , which climbed 9.2%, toward the biggest one-day gain since it soared 13.6% on June 21, 2021. Of the ETF's most active components, shares of Occidental Petroleum Corp. /zigman2/quotes/207018272/composite OXY -2.71% rallied 5.4% and Exxon Mobil Corp. /zigman2/quotes/204455864/composite XOM -2.74% hiked up 4.5%. The worst performer was Kinder Morgan Inc.'s stock /zigman2/quotes/208455654/composite KMI -2.32% , which gained 2.2%. Chevron Corp.'s stock /zigman2/quotes/205871374/composite CVX -2.47% ran up 5.0% to pace the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA -1.40% gainers. Meanwhile, crude oil futures /zigman2/quotes/209723049/delayed CL00 +0.62% charged up 3.9%, after reports over the weekend that the Organization of Petroleum Exporting Countries (OPEC) and their allies, known as (OPEC+), is considering cutting production by more than one million barrels a day to stem the recent price decline.

/zigman2/quotes/210599714/realtime
US : S&P US
3,998.84
-72.86 -1.79%
Volume: 0.00
Dec. 5, 2022 5:05p
loading...
/zigman2/quotes/206420077/composite
US : U.S.: NYSE Arca
$ 87.63
-2.68 -2.97%
Volume: 25.86M
Dec. 5, 2022 4:00p
loading...
/zigman2/quotes/205031829/composite
US : U.S.: NYSE
$ 28.52
-1.22 -4.10%
Volume: 11.31M
Dec. 5, 2022 4:00p
P/E Ratio
5.48
Dividend Yield
1.12%
Market Cap
$18.89 billion
Rev. per Employee
$5.01M
loading...
/zigman2/quotes/207018272/composite
US : U.S.: NYSE
$ 66.36
-1.85 -2.71%
Volume: 15.26M
Dec. 5, 2022 4:00p
P/E Ratio
5.53
Dividend Yield
0.78%
Market Cap
$62.00 billion
Rev. per Employee
$3.06M
loading...
/zigman2/quotes/204455864/composite
US : U.S.: NYSE
$ 106.85
-3.01 -2.74%
Volume: 19.28M
Dec. 5, 2022 4:03p
P/E Ratio
8.71
Dividend Yield
3.41%
Market Cap
$452.44 billion
Rev. per Employee
$6.20M
loading...
/zigman2/quotes/208455654/composite
US : U.S.: NYSE
$ 18.56
-0.44 -2.32%
Volume: 12.11M
Dec. 5, 2022 4:00p
P/E Ratio
16.80
Dividend Yield
5.98%
Market Cap
$42.71 billion
Rev. per Employee
$1.89M
loading...
/zigman2/quotes/205871374/composite
US : U.S.: NYSE
$ 176.56
-4.47 -2.47%
Volume: 8.16M
Dec. 5, 2022 4:03p
P/E Ratio
10.05
Dividend Yield
3.22%
Market Cap
$350.05 billion
Rev. per Employee
$5.36M
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,947.10
-482.78 -1.40%
Volume: 0.00
Dec. 5, 2022 5:05p
loading...
/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 77.41
+0.48 +0.62%
Volume: 941.00
Dec. 5, 2022 6:45p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.