It's been a good morning for the market. The Nasdaq is up 0.7%; the S&P 500 has increased 0.3%; and the Dow is trading up 0.3%. 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.
Underperforming the market overall, the Energy sector (XLE) is up 0.1%, and these are its current biggest movers:
|Company||Market Cap||Percentage Change|
|Walter Energy (NYSE:WLT)||$1.98 billion||+6.9%|
|Comstock Resources (NYSE:CRK)||$776.4 million||+2.7%|
|Cabot Oil & Gas (NYSE:COG)||$10.02 billion||+2.4%|
|Noble Energy (NYSE:NBL)||$17.08 billion||+2.3%|
|Pioneer Southwest Energy Partners (NYSE:PSE)||$809.3 million||+2.2%|
|Hess (NYSE:HES)||$16.9 billion||-2%|
|Eni S.p.A (NYSE:E)||$85.41 billion||-1.9%|
Walter Energy (NYSE:WLT) has risen 6.9% and is currently trading at $33.85 per share. So far today, 5.1 million shares have changed hands.
Rising 2.7%, Comstock Resources (NYSE:CRK) is currently trading at $16.56 per share. The company's volume for the day so far is 192,963 shares, 0.2 times its average over the past three months.
After an increase of 2.4%, Cabot Oil & Gas (NYSE:COG) has reached a current price of $48.77. So far today, the company's volume is 548,552 shares. This is 0.2 times the current daily average.
Increasing 2.3%, Noble Energy (NYSE:NBL) is trading at $98.25 per share. This morning, 955,126 shares have been traded,.
Pioneer Southwest Energy Partners (NYSE:PSE) is up 2.2% to reach a current price of $23.16 per share. The company is currently trading a volume of 20,447 shares.
Hess (NYSE:HES) is currently trading at a share price of $48.48, a 2% decline. With one million shares changing hands so far today, the company's volume is 0.4 times the average volume over the last three months.
Currently trading at $46.27 per share, Eni S.p.A (NYSE:E) has fallen 1.9%. The company's volume for the morning is 379,126 shares. This is in keeping with its current daily average.
The Bottom Line No matter the economic climate, Wall Street will always have stocks that make major moves each week. Daily stock performance should be weighed against historical performance and put in context of the market overall. Keep in mind that all these ratios should be compared against historical numbers and industry information in order to get a more complete picture.