Cenovus Energy Inc and Other Energy Stocks Making Big Moves on December 12, 2012

By Investopedia Staff | December 12, 2012 AAA

The Nasdaq remains relatively unchanged, the S&P 500 is up 0.2% and the Dow has risen 0.2% after the morning's trading. The energy sector is the category of stocks that relate to producing or supplying energy. This sector includes companies involved in the exploration and development of oil or gas reserves, oil and gas drilling, or integrated power firms. Performance in the sector is largely driven by the supply and demand for worldwide energy. Energy producers will do very well during times of high oil and gas prices, but will earn less when the value of energy drops. Furthermore, this sector is sensitive to political events, which historically have driven changes in the price of oil.

The Energy sector (XLE) has increased 0.3% so far today and here are its biggest movers:

Company Market Cap Percentage Change
Cobalt International Energy (NYSE:CIE) $11.27 billion -8%
Cenovus Energy Inc (NYSE:CVE) $25.99 billion -3%
Chesapeake Midstream Partners (NYSE:ACMP) $5.04 billion -2.9%
Hess (NYSE:HES) $17.27 billion +2.8%
InterOil Corporation (NYSE:IOC) $2.6 billion +1.9%
Tesoro (NYSE:TSO) $5.74 billion -1.6%
IHS (NYSE:IHS) $5.97 billion +1.6%

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Cobalt International Energy (NYSE:CIE) has decreased to $25.25 per share, a 8% fall. The company's volume is currently 14.3 million shares for the day, six times its current daily average.

Slipping 3%, Cenovus Energy Inc (NYSE:CVE) is currently trading at $33.38 per share. So far today, 610,631 shares have changed hands.

Currently trading at $33.06 per share, Chesapeake Midstream Partners (NYSE:ACMP) has fallen 2.9%. At 552,405 shares, the company's volume so far today is more than yesterday's 138,134 shares.

Hess (NYSE:HES) has risen 2.8% and is currently trading at $52 per share. This morning, the company is trading a volume of 2.3 million shares. This is 0.8 times the average volume over the last three months.

InterOil Corporation (NYSE:IOC) is at $54.81 per share after an increase of 1.9%. At 260,916 shares, the company's volume so far today is 0.3 times the current daily average.

Tesoro (NYSE:TSO) has fallen 1.6% and is currently trading at $40.21 per share. So far today, the company's volume is one million shares.

IHS (NYSE:IHS) has moved up 1.6% and is currently trading at $91.92 per share. The company's volume is currently 291,526 shares for the day, with trading activity in keeping with yesterday's.

The Bottom Line The nature of the market is such that stocks will have good days and bad days. Daily stock performance should be weighed against historical performance and put in context of the market overall. However, these fundamental metrics must be analyzed with historic data, industry information in addition to firm specific financial statements.

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