It's been a good morning for the market. The Nasdaq is trading up 0.9%; the S&P 500 has moved up 0.5%; and the Dow has risen 0.2%. 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 0.4%, and these are its current biggest movers:
|Company||Market Cap||Percentage Change|
|Enerplus Corp (NYSE:ERF)||$2.97 billion||-12.4%|
|Sandridge Mississippian Trust (NYSE:SDT)||$530.6 million||-5.1%|
|Mid-Con Energy (Nasdaq:MCEP)||$504.5 million||-5%|
|Bonanza Creek Energy (NYSE:BCEI)||$939.9 million||-4.8%|
|InterOil Corporation (NYSE:IOC)||$3.12 billion||+3.9%|
|Linn (Nasdaq:LINE)||$9.36 billion||-2.9%|
|AmeriGas Partners (NYSE:APU)||$3.98 billion||-2.8%|
Broker Summary: E-Trade Financial
Enerplus Corp (NYSE:ERF) is currently trading at $13.15 per share, after a steep drop of 12.4%. The company is currently trading a volume of 2.7 million shares.
Slipping 5.1%, Sandridge Mississippian Trust (NYSE:SDT) is currently trading at $17.98 per share. So far today, the company's volume is 363,772 shares, 1.2 times its current three-month average.
Mid-Con Energy (Nasdaq:MCEP) is down 5% to reach $20.35 per share. So far today, 120,436 shares of the company's stock have changed hands.
Bonanza Creek Energy (NYSE:BCEI) is currently trading at a share price of $22.36, a 4.8% decline. So far today, the company's volume is 435,212 shares, one times its current daily average.
Rising 3.9%, InterOil Corporation (NYSE:IOC) is currently trading at $67.10 per share. The company's volume for the day so far is 313,714 shares.
Linn (Nasdaq:LINE) has fallen 2.9% and is currently trading at $38.76 per share. With 1.6 million shares changing hands so far today, the company's volume is 1.6 times the average volume over the last three months.
After a decline of 2.8%, AmeriGas Partners (NYSE:APU) has hit a share price of $41.65. The company is trading at a volume of 47,310 shares. This is about the same trading activity as there was yesterday.
The Bottom Line No matter the economic climate, Wall Street will always have stocks that make major moves each week. It is important to weigh current activity against historical performance when making any investment decisions. Keep in mind that all these ratios should be compared against historical numbers and industry information in order to get a more complete picture.