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

By Philip van Doorn, MarketWatch

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

(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 (link), 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 (link)

-- Stocks tend to rise in months after a big oil-price jump -- but beware the drawdowns (link)

-- Why the Saudi oil attack is a 'big deal' that could be a 'game changer' in stock markets and crude prices (link)

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

-- Why Saudi Arabia's output hit won't lead to shocking prices at the gas pump (link)

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 (XLE) was up 3.4%. Shares of Exxon Mobil (XOM), which make up 23% of the ETF, were up 1.5%, while Chevron (CVX), which makes up 21% of the ETF, rose 2.2%.

Some heavily shorted oil companies (link) saw much larger gains as investors rushed to cover their positions and avoid losses. An example was Carrizo Oil & Gas (CRZO), 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 , the S&P 400 Mid-Cap Index and the S&P Small-Cap 600 Index .

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.         US:WLL                         49.1%               -50.4%                     -79.6% 
Unit Corp.                      US:UNT                         36.7%               -68.2%                     -84.4% 
HighPoint Resources Corp.       US:HPR                         32.4%               -26.1%                     -66.8% 
SM Energy Co.                   US:SM                         31.0%               -18.3%                     -62.6% 
Oasis Petroleum Inc.            US:OAS                         29.0%               -13.2%                     -67.1% 
Denbury Resources Inc.          US:DNR                         27.0%                -9.4%                     -77.0% 
QEP Resources Inc.              US:QEP                         22.1%               -11.5%                     -58.7% 
Valaris PLC Class A             US:VAL                         21.4%               -45.9%                     -79.7% 
Murphy Oil Corp.                US:MUR                         21.1%                 6.7%                     -31.7% 
Patterson-UTI Energy Inc.       US:PTEN                         21.0%                 6.5%                     -40.1% 
Ring Energy Inc.                US:REI                         19.7%               -65.4%                     -85.1% 
Carrizo Oil & Gas Inc.          US:CRZO                         19.5%                -9.5%                     -61.7% 
RPC Inc.                        US:RES                         19.3%               -31.6%                     -60.8% 
Superior Energy Services Inc.   US:SPN                         18.5%               -88.1%                     -96.4% 
Nabors Industries Ltd.          US:NBR                         18.3%                36.0%                     -59.1% 
Callon Petroleum Co.            US:CPE                         18.0%               -18.0%                     -59.4% 
Apache Corp.                    US:APA                         16.9%                 8.4%                     -43.1% 
Gulfport Energy Corp.           US:GPOR                         16.8%               -46.9%                     -70.9% 
Chesapeake Energy Corp.         US:CHK                         15.7%                -1.9%                     -58.6% 
U.S. Silica Holdings Inc.       US:SLCA                         15.6%                23.7%                     -40.4% 
Matador Resources Co.           US:MTDR                         15.0%                22.3%                     -45.6% 
Laredo Petroleum Inc.           US:LPI                         14.6%               -15.5%                     -66.1% 
Helmerich & Payne Inc.          US:HP                         14.3%                -1.1%                     -35.7% 
Transocean Ltd.                 US:RIG                         13.6%                -6.2%                     -55.0% 
Diamond Offshore Drilling Inc.  US:DO                         13.3%                -7.7%                     -58.2% 
WPX Energy Inc.                 US:WPX                         12.8%                 9.2%                     -40.4% 
Devon Energy Corp.              US:DVN                         12.2%                24.8%                     -33.0% 
Cimarex Energy Co.              US:XEC                         12.1%               -12.8%                     -46.9% 
Apergy Corp.                    US:APY                         12.0%                18.9%                     -30.1% 
Range Resources Corp.           US:RRC                         11.7%               -46.0%                     -72.2% 
Marathon Oil Corp.              US:MRO                         11.6%                -1.2%                     -41.4% 
SRC Energy Inc                  US:SRCI                         11.2%                22.6%                     -38.0% 
Hess Corp.                      US:HES                         11.2%                73.6%                      -6.0% 
Halliburton Co.                 US:HAL                         11.0%               -15.4%                     -47.2% 
Penn Virginia Corp.             US:PVAC                         10.7%               -33.3%                     -59.1% 
PDC Energy Inc.                 US:PDCE                         10.6%                21.5%                     -32.4% 
Core Laboratories NV            US:CLB                         10.4%               -13.2%                     -57.6% 
Bonanza Creek Energy Inc        US:BCEI                         10.4%                25.8%                     -16.2% 
C&J Energy Services Inc.        US:CJ                         10.0%                -9.9%                     -47.6% 
                                                                                                      Source: FactSet 

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-Philip van Doorn; 415-439-6400; AskNewswires@dowjones.com

 

(END) Dow Jones Newswires

09-17-19 0736ET

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