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Jan. 3, 2020, 11:45 a.m. EST

Here’s a look at the biggest movers among U.S. oil stocks after Iran’s Soleimani is killed

The broad market was down, but some energy stocks were up significantly

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By Mark DeCambre and Philip van Doorn, MarketWatch


Getty Images
Protesters shout slogans against the United States and Israel as they hold posters with the image of top Iranian commander Qassem Soleimani.

Oil stocks were in the spotlight on Friday after a targeted military strike killed Iranian General Qassem Soleimani, considered the architect of the Islamic Republic’s military expansion in the Middle East.

The attack has sent crude-oil prices soaring, with West Texas Intermediate crude for February delivery  on the New York Mercantile Exchange up $1.41, or 2.3%, at $62.59 a barrel after trading as high as $64.09 — the highest intraday level for the U.S. benchmark since late April.

Read : Oil prices surge as traders watch Middle East tensions

The expectation is that an Iranian response to the killing of one of its most revered generals will hurt global energy supplies, at least in the short-term. The Wall Street Journal reported that Iran-allied Iraqi militia commanders called up fighters who vowed to avenge the assassination of Soleimani, the leader of the foreign wing of Iran’s Islamic Revolutionary Guard Corps.

The ensuing surge in crude-oil prices could be beneficial to those companies that produce crude and its byproducts, with that view giving some buoyancy to energy stocks.

However, gains aren’t as powerful as they have been in the most recent Middle East drama, when a drone attack briefly knocked out major facilities in Saudi Arabia back in mid September.

Here’s how some energy assets are responding:

Friday's market reaction

The popular Energy Select Sector SPDR ETF /zigman2/quotes/206420077/composite XLE -1.68% was down 0.4% in Friday trade, while one the largest energy-related exchange-trade funds, the SPDR S&P Oil & Gas Exploration & Production ETF /zigman2/quotes/203527521/composite XOP -1.57% , was up 1.6%.

However, the moves for the oil-pegged funds are more muted in the aftermath of the killing of Soleimani, which could intensify conflicts in the Middle East, when compared with concerted drone strikes on Sept. 15 that briefly took out Saudi Arabian Aramco facilities, briefly shutting down 5% of the world’s global oil production.

Back then, XOP, referring to the oil-and-gas exploration ETF’s ticker, surged 10.8%, while XLE, referring to the energy fund’s ticker, jumped 3.4% on Sept. 16, the first full trading day after the those strikes.

RBC analyst Helima Croft said during a Friday interview on CNBC that if the attack had taken place five years ago, oil would have soared above $100 a barrel.

“U.S. production has blunted the impact to the market of geopolitics. The question is how does Iranian leadership respond?,” she said.

Check out : Why the oil market rally on elevated U.S.-Iran tensions may be short lived

Here’s how the top 10 performers among the equal-weighted XOP were trading on Friday at 10:40 ET:

Company Ticker Price change - Jan. 3. 2020 Decline from 52-week high Price change - 2019 Price change - 2018
Whiting Petroleum Corp. /zigman2/quotes/204602363/composite WLL   8.0% -75% -66% -14%
Chesapeake Energy Corp.   7.0% -74% -56% -47%
Callon Petroleum Co. /zigman2/quotes/201917664/composite CPE   4.7% -43% -24% -47%
Continental Resources Inc. /zigman2/quotes/200740136/composite CLR   3.8% -32% -12% -24%
WPX Energy Inc. /zigman2/quotes/204372171/composite WPX   3.6% -7% 25% -19%
Range Resources Corp. /zigman2/quotes/205059849/composite RRC   3.2% -63% -52% -44%
Parsley Energy Inc. Class A /zigman2/quotes/200138201/composite PE   3.1% -11% 24% -46%
Hess Corp. /zigman2/quotes/203832174/composite HES   3.0% -6% 72% -15%
Southwestern Energy Co. /zigman2/quotes/208301463/composite SWN   2.8% -52% -30% -39%
Cimarex Energy Co. /zigman2/quotes/205517948/composite XEC   2.7% -30% -13% -49%
Source: FactSet

You can click the tickers for more about each company.

Here’s how all of 28 stocks held by XLE were performing at 10:40 ET:

Company Ticker Price change - Jan. 3. 2020 Price change - 2019 Price change - 2019 Price change - 2018
Hess Corp. /zigman2/quotes/203832174/composite HES   3.0% 72% 65% -15%
Cimarex Energy Co. /zigman2/quotes/205517948/composite XEC   2.7% -13% -15% -49%
Concho Resources Inc. /zigman2/quotes/208942254/composite CXO   2.7% -13% -15% -32%
A pache Corp. /zigman2/quotes/200648444/composite APA   2.5% -1% -3% -38%
Occidental Petroleum Corp. /zigman2/quotes/207018272/composite OXY   2.4% -29% -33% -17%
Devon Energy Corp. /zigman2/quotes/209479244/composite DVN   2.2% 17% 15% -46%
Diamondback Energy Inc. /zigman2/quotes/201200230/composite FANG   1.8% 2% 0% -27%
Pioneer Natural Resources Co. /zigman2/quotes/206736173/composite PXD   1.7% 18% 15% -24%
Helmerich & Payne Inc. /zigman2/quotes/209685666/composite HP   1.7% -4% -5% -26%
Marathon Oil Corp. /zigman2/quotes/205031829/composite MRO   1.6% -3% -5% -15%
Halliburton Co. /zigman2/quotes/210488727/composite HAL   1.2% -6% -8% -46%
EOG Resources Inc. /zigman2/quotes/204634330/composite EOG   1.1% -2% -4% -19%
Schlumberger NV /zigman2/quotes/201012972/composite SLB   0.7% 12% 11% -46%
National Oilwell Varco Inc. /zigman2/quotes/208758290/composite NOV   0.7% -1% -3% -29%
TechnipFMC PLC /zigman2/quotes/207530935/composite FTI   0.7% 10% 9% -37%
Oneok Inc. /zigman2/quotes/205201756/composite OKE   0.5% 41% 40% 1%
ConocoPhillips /zigman2/quotes/207605056/composite COP   0.4% 5% 4% 14%
Cabot Oil & Gas Corp. /zigman2/quotes/205804016/composite COG   0.3% -23% -22% -22%
Kinder Morgan Inc. Class P /zigman2/quotes/208455654/composite KMI   0.3% 37% 38% -15%
Noble Energy Inc. /zigman2/quotes/210375673/composite NBL   0.2% 29% 32% -36%
Baker Hughes Co. Class A /zigman2/quotes/205323712/composite BKR   0.1% 19% 19% -32%
Chevron Corp. /zigman2/quotes/205871374/composite CVX   0.0% 12% 11% -13%
Exxon Mobil Corp. /zigman2/quotes/204455864/composite XOM   -0.1% 4% 2% -18%
Williams Companies Inc. /zigman2/quotes/205467183/composite WMB   -0.1% 6% 8% -28%
Phillips 66 /zigman2/quotes/207448059/composite PSX   -2.5% 27% 29% -15%
Valero Energy Corp. /zigman2/quotes/200735463/composite VLO   -3.4% 23% 25% -18%
HollyFrontier Corp. /zigman2/quotes/201783514/composite HFC   -4.2% -4% -1% 0%
Marathon Petroleum Corp. /zigman2/quotes/209634297/composite MPC   -4.6% 0% 2% -11%
Source: FactSet

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$ 36.82
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$ 1.04
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/zigman2/quotes/201917664/composite
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$3.72M
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/zigman2/quotes/205059849/composite
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$ 26.96
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Dividend Yield
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$2.82 billion
Rev. per Employee
$2.45M
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/zigman2/quotes/203832174/composite
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$ 48.91
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Volume: 105,089
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Dividend Yield
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Market Cap
$15.20 billion
Rev. per Employee
$3.59M
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/zigman2/quotes/205517948/composite
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$ 26.96
-0.67 -2.42%
Volume: 34,736
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Dividend Yield
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Market Cap
$2.82 billion
Rev. per Employee
$2.45M
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/zigman2/quotes/208942254/composite
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$ 51.14
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Volume: 144,705
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P/E Ratio
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Dividend Yield
1.57%
Market Cap
$10.19 billion
Rev. per Employee
$2.76M
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/zigman2/quotes/200648444/composite
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$ 13.00
-0.53 -3.88%
Volume: 1.00M
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P/E Ratio
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Dividend Yield
0.76%
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$5.10 billion
Rev. per Employee
$2.15M
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/zigman2/quotes/207018272/composite
US : U.S.: NYSE
$ 17.55
-0.63 -3.47%
Volume: 3.11M
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P/E Ratio
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Dividend Yield
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Rev. per Employee
$1.60M
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/zigman2/quotes/209479244/composite
US : U.S.: NYSE
$ 10.69
-0.47 -4.24%
Volume: 1.31M
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P/E Ratio
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Dividend Yield
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$4.27 billion
Rev. per Employee
$3.49M
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/zigman2/quotes/201200230/composite
US : U.S.: Nasdaq
$ 41.49
-1.39 -3.24%
Volume: 235,125
July 7, 2020 10:06a
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N/A
Dividend Yield
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/zigman2/quotes/206736173/composite
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$ 97.40
-1.32 -1.34%
Volume: 114,593
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Dividend Yield
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$ 18.41
-0.72 -3.76%
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Dividend Yield
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$2.05 billion
Rev. per Employee
$303,392
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$ 5.73
-0.13 -2.22%
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$4.63 billion
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/zigman2/quotes/210488727/composite
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$ 12.76
-0.28 -2.11%
Volume: 1.37M
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Dividend Yield
1.42%
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$11.43 billion
Rev. per Employee
$399,917
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/zigman2/quotes/204634330/composite
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$ 49.23
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/zigman2/quotes/201012972/composite
US : U.S.: NYSE
$ 18.48
-0.27 -1.47%
Volume: 905,697
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N/A
Dividend Yield
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$26.02 billion
Rev. per Employee
$328,150
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/zigman2/quotes/208758290/composite
US : U.S.: NYSE
$ 12.03
-0.36 -2.91%
Volume: 268,737
July 7, 2020 10:06a
P/E Ratio
N/A
Dividend Yield
0.00%
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$4.81 billion
Rev. per Employee
$241,137
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/zigman2/quotes/207530935/composite
US : U.S.: NYSE
$ 7.36
-0.37 -4.73%
Volume: 796,771
July 7, 2020 10:06a
P/E Ratio
N/A
Dividend Yield
1.77%
Market Cap
$3.46 billion
Rev. per Employee
$339,268
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/zigman2/quotes/205201756/composite
US : U.S.: NYSE
$ 27.52
-0.77 -2.74%
Volume: 1.39M
July 7, 2020 10:06a
P/E Ratio
14.31
Dividend Yield
13.58%
Market Cap
$12.56 billion
Rev. per Employee
$4.70M
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/zigman2/quotes/207605056/composite
US : U.S.: NYSE
$ 41.20
-0.43 -1.03%
Volume: 555,966
July 7, 2020 10:06a
P/E Ratio
12.81
Dividend Yield
4.11%
Market Cap
$44.65 billion
Rev. per Employee
$3.37M
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/zigman2/quotes/205804016/composite
US : U.S.: NYSE
$ 17.98
+0.06 +0.33%
Volume: 311,434
July 7, 2020 10:06a
P/E Ratio
15.76
Dividend Yield
2.23%
Market Cap
$7.14 billion
Rev. per Employee
$7.07M
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US : U.S.: NYSE
$ 14.85
-0.34 -2.27%
Volume: 2.61M
July 7, 2020 10:06a
P/E Ratio
25.35
Dividend Yield
7.12%
Market Cap
$34.35 billion
Rev. per Employee
$1.30M
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/zigman2/quotes/210375673/composite
US : U.S.: Nasdaq
$ 9.16
-0.29 -3.07%
Volume: 757,469
July 7, 2020 10:06a
P/E Ratio
N/A
Dividend Yield
0.87%
Market Cap
$4.53 billion
Rev. per Employee
$1.91M
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/zigman2/quotes/205323712/composite
US : U.S.: NYSE
$ 15.35
-0.16 -1.06%
Volume: 204,134
July 7, 2020 10:06a
P/E Ratio
N/A
Dividend Yield
4.74%
Market Cap
$16.01 billion
Rev. per Employee
$346,621
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/zigman2/quotes/205871374/composite
US : U.S.: NYSE
$ 87.40
-1.17 -1.32%
Volume: 786,873
July 7, 2020 10:06a
P/E Ratio
42.96
Dividend Yield
5.94%
Market Cap
$165.36 billion
Rev. per Employee
$3.27M
loading...
/zigman2/quotes/204455864/composite
US : U.S.: NYSE
$ 43.81
-0.58 -1.31%
Volume: 2.07M
July 7, 2020 10:06a
P/E Ratio
16.38
Dividend Yield
7.98%
Market Cap
$187.69 billion
Rev. per Employee
$3.93M
loading...
/zigman2/quotes/205467183/composite
US : U.S.: NYSE
$ 18.97
-0.35 -1.79%
Volume: 906,187
July 7, 2020 10:06a
P/E Ratio
170.18
Dividend Yield
8.47%
Market Cap
$23.43 billion
Rev. per Employee
$1.63M
loading...
/zigman2/quotes/207448059/composite
US : U.S.: NYSE
$ 66.85
-1.24 -1.82%
Volume: 351,055
July 7, 2020 10:06a
P/E Ratio
97.22
Dividend Yield
5.42%
Market Cap
$29.73 billion
Rev. per Employee
$7.84M
loading...
/zigman2/quotes/200735463/composite
US : U.S.: NYSE
$ 54.99
-1.48 -2.62%
Volume: 553,474
July 7, 2020 10:06a
P/E Ratio
55.85
Dividend Yield
7.17%
Market Cap
$23.02 billion
Rev. per Employee
$11.41M
loading...
/zigman2/quotes/201783514/composite
US : U.S.: NYSE
$ 27.61
-0.44 -1.57%
Volume: 229,905
July 7, 2020 10:06a
P/E Ratio
21.98
Dividend Yield
5.19%
Market Cap
$4.54 billion
Rev. per Employee
$4.89M
loading...
/zigman2/quotes/209634297/composite
US : U.S.: NYSE
$ 35.44
-0.92 -2.53%
Volume: 923,098
July 7, 2020 10:06a
P/E Ratio
N/A
Dividend Yield
6.66%
Market Cap
$23.64 billion
Rev. per Employee
$1.59M
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Mark DeCambre is MarketWatch's markets editor. He is based in New York. Follow him on Twitter @mdecambre. Philip van Doorn covers various investment and industry topics. He has previously worked as a senior analyst at TheStreet.com. He also has experience in community banking and as a credit analyst at the Federal Home Loan Bank of New York.

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