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Philip van Doorn

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Sept. 17, 2019, 7:37 a.m. EDT

These oil stocks rise the most after supply disruption in the Middle East

There were 39 energy companies in the S&P Composite 1500 with double-digit share-price increases

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By Philip van Doorn, MarketWatch


AP
Smoke from a fire at the Abqaiq oil processing facility in Buqyaq, Saudi Arabia.

(Updated with market close information.)

Shares of energy companies shot up Monday in the wake of the aerial attack on Saudi Arabia’s Abqaiq oil facility. That led to the suspension of about 5% of world oil production, the largest supply disruption ever.

Phil Flynn, a senior market strategist with the Price Futures group who writes a daily energy report , said that even though the oil-supply disruption from the weekend attack was larger than those suffered during the Gulf War in 1991 or Iran’s revolution in 1979, this cut is “a little less ominous” because the size of the oil market is so much larger today.

More coverage of the oil supply disruption:

• A jump in oil prices is creating trading opportunities in these investments

• Stocks tend to rise in months after a big oil-price jump — but beware the drawdowns

• Why the Saudi oil attack is a ‘big deal’ that could be a ‘game changer’ in stock markets and crude prices

• Here are the three key times the U.S. tapped into its massive emergency-oil reserves

• Why Saudi Arabia’s output hit won’t lead to shocking prices at the gas pump

West Texas crude oil for October delivery  rose 14.7% to settle at $62.90 a barrel, for its largest one-day gain for the most active contract since Sept. 22, 2008, according to Dow Jones Market Data. Brent crude oil for November  settled at $69.02 a barrel, for a 14.6% gain — its largest on record.

The SPDR Energy ETF /zigman2/quotes/206420077/lastsale XLE -4.96%  was up 3.4%. Shares of Exxon Mobil /zigman2/quotes/204455864/lastsale XOM -1.16% , which make up 23% of the ETF, were up 1.5%, while Chevron /zigman2/quotes/205871374/lastsale CVX -5.38% , which makes up 21% of the ETF, rose 2.2%.

Some heavily shorted oil companies saw much larger gains as investors rushed to cover their positions and avoid losses. An example was Carrizo Oil & Gas , which had 39% of shares available for trading sold-short, according to FactSet. The shares shot up 19.5% to close at $10.22, but were still down 62% from the 52-week intraday high of $26.67 set on Sept. 25, 2018.

There are 89 companies in the energy sector of the S&P 1500, which itself is made up of the S&P 500 /zigman2/quotes/210599714/realtime SPX -4.41% , the S&P 400 Mid-Cap Index /zigman2/quotes/210599897/delayed MID -5.69% and the S&P Small-Cap 600 Index /zigman2/quotes/210599868/delayed SML -7.18%

Here are the 39 energy companies in the S&P 1500 whose shares were up at least 10% on Monday:

Company Ticker Price change - Sep. 16, 2019 Price change - 2019 Decline from 52-week high
Whiting Petroleum Corp. /zigman2/quotes/204602363/lastsale WLL 49.1% -50.4% -79.6%
Unit Corp. /zigman2/quotes/209414274/lastsale UNT 36.7% -68.2% -84.4%
HighPoint Resources Corp. /zigman2/quotes/203522151/lastsale HPR 32.4% -26.1% -66.8%
SM Energy Co. /zigman2/quotes/209677692/lastsale SM 31.0% -18.3% -62.6%
Oasis Petroleum Inc. /zigman2/quotes/207530975/lastsale OAS 29.0% -13.2% -67.1%
Denbury Resources Inc. /zigman2/quotes/206163509/lastsale DNR 27.0% -9.4% -77.0%
QEP Resources Inc. /zigman2/quotes/207618739/lastsale QEP 22.1% -11.5% -58.7%
Valaris PLC Class A /zigman2/quotes/207330259/lastsale VAL 21.4% -45.9% -79.7%
Murphy Oil Corp. /zigman2/quotes/209008919/lastsale MUR 21.1% 6.7% -31.7%
Patterson-UTI Energy Inc. /zigman2/quotes/204120302/lastsale PTEN 21.0% 6.5% -40.1%
Ring Energy Inc. /zigman2/quotes/203476774/lastsale REI 19.7% -65.4% -85.1%
Carrizo Oil & Gas Inc. 19.5% -9.5% -61.7%
RPC Inc. /zigman2/quotes/201485709/lastsale RES 19.3% -31.6% -60.8%
Superior Energy Services Inc. /zigman2/quotes/207292428/lastsale SPN 18.5% -88.1% -96.4%
Nabors Industries Ltd. /zigman2/quotes/202661377/lastsale NBR 18.3% 36.0% -59.1%
Callon Petroleum Co. /zigman2/quotes/201917664/lastsale CPE 18.0% -18.0% -59.4%
Apache Corp. /zigman2/quotes/200648444/lastsale APA 16.9% 8.4% -43.1%
Gulfport Energy Corp. /zigman2/quotes/203981280/lastsale GPOR 16.8% -46.9% -70.9%
Chesapeake Energy Corp. /zigman2/quotes/201364537/lastsale CHK 15.7% -1.9% -58.6%
U.S. Silica Holdings Inc. /zigman2/quotes/206361964/lastsale SLCA 15.6% 23.7% -40.4%
Matador Resources Co. /zigman2/quotes/204387276/lastsale MTDR 15.0% 22.3% -45.6%
Laredo Petroleum Inc. /zigman2/quotes/201779769/lastsale LPI 14.6% -15.5% -66.1%
Helmerich & Payne Inc. /zigman2/quotes/209685666/lastsale HP 14.3% -1.1% -35.7%
Transocean Ltd. /zigman2/quotes/208905612/lastsale RIG 13.6% -6.2% -55.0%
Diamond Offshore Drilling Inc. /zigman2/quotes/210455719/lastsale DO 13.3% -7.7% -58.2%
WPX Energy Inc. /zigman2/quotes/204372171/lastsale WPX 12.8% 9.2% -40.4%
Devon Energy Corp. /zigman2/quotes/209479244/lastsale DVN 12.2% 24.8% -33.0%
Cimarex Energy Co. /zigman2/quotes/205517948/lastsale XEC 12.1% -12.8% -46.9%
Apergy Corp. /zigman2/quotes/205349782/lastsale APY 12.0% 18.9% -30.1%
Range Resources Corp. /zigman2/quotes/205059849/lastsale RRC 11.7% -46.0% -72.2%
Marathon Oil Corp. /zigman2/quotes/205031829/lastsale MRO 11.6% -1.2% -41.4%
SRC Energy Inc 11.2% 22.6% -38.0%
Hess Corp. /zigman2/quotes/203832174/lastsale HES 11.2% 73.6% -6.0%
Halliburton Co. /zigman2/quotes/210488727/lastsale HAL 11.0% -15.4% -47.2%
Penn Virginia Corp. /zigman2/quotes/200301793/lastsale PVAC 10.7% -33.3% -59.1%
PDC Energy Inc. /zigman2/quotes/202777853/lastsale PDCE 10.6% 21.5% -32.4%
Core Laboratories NV /zigman2/quotes/207238091/lastsale CLB 10.4% -13.2% -57.6%
Bonanza Creek Energy Inc /zigman2/quotes/204933876/lastsale BCEI 10.4% 25.8% -16.2%
C&J Energy Services Inc. 10.0% -9.9% -47.6%
Source: FactSet

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/zigman2/quotes/206420077/lastsale
US : U.S.: NYSE Arca
$ 27.62
-1.44 -4.96%
Volume: 23.81M
April 1, 2020 4:10p
loading...
/zigman2/quotes/204455864/lastsale
US : U.S.: NYSE
$ 37.53
-0.44 -1.16%
Volume: 36.01M
April 1, 2020 4:10p
P/E Ratio
11.19
Dividend Yield
9.27%
Market Cap
$160.70 billion
Rev. per Employee
$3.93M
loading...
/zigman2/quotes/205871374/lastsale
US : U.S.: NYSE
$ 68.56
-3.90 -5.38%
Volume: 14.35M
April 1, 2020 4:10p
P/E Ratio
46.08
Dividend Yield
7.53%
Market Cap
$136.18 billion
Rev. per Employee
$3.27M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
2,470.50
-114.09 -4.41%
Volume: 3.67B
April 1, 2020 5:09p
loading...
/zigman2/quotes/210599897/delayed
US : S&P US
1,361.21
-82.19 -5.69%
Volume: 688.73M
April 1, 2020 5:09p
loading...
/zigman2/quotes/210599868/delayed
US : S&P US
635.66
-49.18 -7.18%
Volume: 668.00M
April 1, 2020 5:09p
loading...
/zigman2/quotes/204602363/lastsale
US : U.S.: NYSE
$ 0.37
-0.30 -44.53%
Volume: 35.68M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$61.52 million
Rev. per Employee
$2.76M
loading...
/zigman2/quotes/209414274/lastsale
US : U.S.: NYSE
$ 0.24
-0.02 -9.42%
Volume: 824,087
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$14.41 million
Rev. per Employee
$612,850
loading...
/zigman2/quotes/203522151/lastsale
US : U.S.: NYSE
$ 0.17
-0.02 -11.21%
Volume: 3.23M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$40.19 million
Rev. per Employee
$2.80M
loading...
/zigman2/quotes/209677692/lastsale
US : U.S.: NYSE
$ 1.03
-0.19 -15.57%
Volume: 5.71M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
9.71%
Market Cap
$137.85 million
Rev. per Employee
$2.68M
loading...
/zigman2/quotes/207530975/lastsale
US : U.S.: Nasdaq
$ 0.29
-0.06 -16.54%
Volume: 15.20M
April 1, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$113.30 million
Rev. per Employee
$3.19M
loading...
/zigman2/quotes/206163509/lastsale
US : U.S.: NYSE
$ 0.17
-0.01 -7.91%
Volume: 11.28M
April 1, 2020 4:10p
P/E Ratio
0.39
Dividend Yield
N/A
Market Cap
$93.48 million
Rev. per Employee
$1.72M
loading...
/zigman2/quotes/207618739/lastsale
US : U.S.: NYSE
$ 0.28
-0.06 -16.86%
Volume: 11.61M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
28.77%
Market Cap
$81.01 million
Rev. per Employee
$4.16M
loading...
/zigman2/quotes/207330259/lastsale
US : U.S.: NYSE
$ 0.41
-0.04 -9.31%
Volume: 5.59M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$88.80 million
Rev. per Employee
$387,591
loading...
/zigman2/quotes/209008919/lastsale
US : U.S.: NYSE
$ 5.60
-0.53 -8.65%
Volume: 6.74M
April 1, 2020 4:10p
P/E Ratio
0.79
Dividend Yield
17.86%
Market Cap
$938.93 million
Rev. per Employee
$2.33M
loading...
/zigman2/quotes/204120302/lastsale
US : U.S.: Nasdaq
$ 1.89
-0.46 -19.57%
Volume: 5.37M
April 1, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
8.47%
Market Cap
$451.56 million
Rev. per Employee
$415,875
loading...
/zigman2/quotes/203476774/lastsale
US : U.S.: NYSE American
$ 0.54
-0.12 -17.73%
Volume: 1.24M
April 1, 2020 4:10p
P/E Ratio
0.94
Dividend Yield
N/A
Market Cap
$44.79 million
Rev. per Employee
$2.86M
loading...
/zigman2/quotes/201485709/lastsale
US : U.S.: NYSE
$ 1.96
-0.10 -4.85%
Volume: 2.68M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$441.73 million
Rev. per Employee
$478,057
loading...
/zigman2/quotes/207292428/lastsale
US : U.S.: NYSE
$ 1.34
-0.13 -8.84%
Volume: 243,663
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$23.22 million
Rev. per Employee
$322,767
loading...
/zigman2/quotes/202661377/lastsale
US : U.S.: NYSE
$ 0.35
-0.04 -10.18%
Volume: 8.82M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
11.42%
Market Cap
$163.58 million
Rev. per Employee
$203,841
loading...
/zigman2/quotes/201917664/lastsale
US : U.S.: NYSE
$ 0.41
-0.14 -25.17%
Volume: 36.95M
April 1, 2020 4:10p
P/E Ratio
1.63
Dividend Yield
N/A
Market Cap
$217.34 million
Rev. per Employee
$2.70M
loading...
/zigman2/quotes/200648444/lastsale
US : U.S.: NYSE
$ 4.02
-0.16 -3.83%
Volume: 22.57M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
2.49%
Market Cap
$1.58 billion
Rev. per Employee
$2.15M
loading...
/zigman2/quotes/203981280/lastsale
US : U.S.: Nasdaq
$ 0.41
-0.04 -8.81%
Volume: 2.87M
April 1, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$71.02 million
Rev. per Employee
$4.22M
loading...
/zigman2/quotes/201364537/lastsale
US : U.S.: NYSE
$ 0.15
-0.02 -14.01%
Volume: 79.15M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$337.76 million
Rev. per Employee
$4.37M
loading...
/zigman2/quotes/206361964/lastsale
US : U.S.: NYSE
$ 1.55
-0.25 -13.89%
Volume: 1.47M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
5.16%
Market Cap
$132.76 million
Rev. per Employee
$560,917
loading...
/zigman2/quotes/204387276/lastsale
US : U.S.: NYSE
$ 2.16
-0.32 -12.90%
Volume: 9.19M
April 1, 2020 4:10p
P/E Ratio
2.87
Dividend Yield
N/A
Market Cap
$289.09 million
Rev. per Employee
$3.15M
loading...
/zigman2/quotes/201779769/lastsale
US : U.S.: NYSE
$ 0.35
-0.03 -8.43%
Volume: 2.88M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$90.92 million
Rev. per Employee
$3.07M
loading...
/zigman2/quotes/209685666/lastsale
US : U.S.: NYSE
$ 14.24
-1.41 -9.01%
Volume: 3.28M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
19.94%
Market Cap
$1.70 billion
Rev. per Employee
$303,392
loading...
/zigman2/quotes/208905612/lastsale
US : U.S.: NYSE
$ 1.08
-0.08 -6.90%
Volume: 18.52M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$710.59 million
Rev. per Employee
$448,507
loading...
/zigman2/quotes/210455719/lastsale
US : U.S.: NYSE
$ 1.59
-0.24 -13.11%
Volume: 2.19M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$252.00 million
Rev. per Employee
$470,963
loading...
/zigman2/quotes/204372171/lastsale
US : U.S.: NYSE
$ 2.75
-0.30 -9.84%
Volume: 11.29M
April 1, 2020 4:10p
P/E Ratio
4.58
Dividend Yield
N/A
Market Cap
$1.74 billion
Rev. per Employee
$3.72M
loading...
/zigman2/quotes/209479244/lastsale
US : U.S.: NYSE
$ 6.79
-0.12 -1.74%
Volume: 16.89M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
6.48%
Market Cap
$2.65 billion
Rev. per Employee
$3.49M
loading...
/zigman2/quotes/205517948/lastsale
US : U.S.: NYSE
$ 15.00
-1.83 -10.87%
Volume: 2.81M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
5.87%
Market Cap
$1.72 billion
Rev. per Employee
$2.45M
loading...
/zigman2/quotes/205349782/lastsale
US : U.S.: NYSE
$ 6.10
+0.35 +6.09%
Volume: 2.21M
April 1, 2020 4:10p
P/E Ratio
8.69
Dividend Yield
N/A
Market Cap
$445.59 million
Rev. per Employee
$368,681
loading...
/zigman2/quotes/205059849/lastsale
US : U.S.: NYSE
$ 2.27
-0.01 -0.44%
Volume: 12.11M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
3.52%
Market Cap
$580.75 million
Rev. per Employee
$4.19M
loading...
/zigman2/quotes/205031829/lastsale
US : U.S.: NYSE
$ 3.12
-0.17 -5.17%
Volume: 52.70M
April 1, 2020 4:10p
P/E Ratio
5.28
Dividend Yield
6.41%
Market Cap
$2.62 billion
Rev. per Employee
$2.46M
loading...
/zigman2/quotes/203832174/lastsale
US : U.S.: NYSE
$ 31.98
-1.32 -3.96%
Volume: 3.88M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
3.13%
Market Cap
$10.16 billion
Rev. per Employee
$3.59M
loading...
/zigman2/quotes/210488727/lastsale
US : U.S.: NYSE
$ 6.60
-0.25 -3.65%
Volume: 27.14M
April 1, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
10.91%
Market Cap
$6.03 billion
Rev. per Employee
$399,917
loading...
/zigman2/quotes/200301793/lastsale
US : U.S.: Nasdaq
$ 2.26
-0.83 -26.86%
Volume: 634,702
April 1, 2020 4:00p
P/E Ratio
0.49
Dividend Yield
N/A
Market Cap
$46.84 million
Rev. per Employee
$5.15M
loading...
/zigman2/quotes/202777853/lastsale
US : U.S.: Nasdaq
$ 6.29
+0.08 +1.29%
Volume: 2.73M
April 1, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$617.45 million
Rev. per Employee
$2.34M
loading...
/zigman2/quotes/207238091/lastsale
US : U.S.: NYSE
$ 9.49
-0.85 -8.22%
Volume: 1.22M
April 1, 2020 4:10p
P/E Ratio
5.00
Dividend Yield
10.54%
Market Cap
$459.55 million
Rev. per Employee
$149,116
loading...
/zigman2/quotes/204933876/lastsale
US : U.S.: NYSE
$ 11.55
+0.30 +2.67%
Volume: 525,960
April 1, 2020 4:10p
P/E Ratio
3.56
Dividend Yield
N/A
Market Cap
$232.29 million
Rev. per Employee
$1.92M
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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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