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July 15, 2021, 12:48 p.m. EDT

S&P Energy stocks teeter on correction territory

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By Claudia Assis

The S&P 500 Energy sector is veering toward a correction, although it pared losses as the Thursday session progressed. The sub-index closed at a high of 430.34 points on June 15, and it is currently trading at 382.90. The correction level to watch is 378.30 points, which would be the third correction of 2021 for the energy sector. Among the biggest decliners Thursday are some of the biggest names in West Texas's Permian Basin, Diamondback Energy Inc. /zigman2/quotes/201200230/composite FANG +1.38% and Pioneer Natural Resources Co. /zigman2/quotes/206736173/composite PXD +0.48% Oil prices extended losses on Thursday after data showed a rise in U.S. fuel supplies.

/zigman2/quotes/201200230/composite
US : U.S.: Nasdaq
$ 130.99
+1.78 +1.38%
Volume: 257,414
Jan. 18, 2022 9:48a
P/E Ratio
67.63
Dividend Yield
1.53%
Market Cap
$23.41 billion
Rev. per Employee
$7.57M
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/zigman2/quotes/206736173/composite
US : U.S.: NYSE
$ 216.73
+1.03 +0.48%
Volume: 152,631
Jan. 18, 2022 9:48a
P/E Ratio
38.98
Dividend Yield
1.15%
Market Cap
$52.66 billion
Rev. per Employee
$7.72M
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