Oil Service Providers Lead Losing Stocks in the Energy Sector

Through the early part of trading on Wednesday, September 14, 2011, these stocks are bringing down the Energy (NYSE:XLE) sector after the Energy Information Administration said U.S. oil inventories declined 6.7 million barrels last week. Long time Wall St. Cheat Sheet readers know to watch stock prices because Technicals on the Stock Chart are Strong’ is one of the ‘T’s in our CHEAT SHEET investing framework.

Shares of Halliburton Company (NYSE:HAL) are trading at $37.90, down $1.53 (-4%) from the previous close of $39.49. Halliburton Company provides oilfield technologies and services to upstream oil and gas customers worldwide.

Stock Price Performance: From July 18, 2011, to September 13, 2011, the stock price had fallen $13.52 (-25.5%) from $53.01 to $39.49. The stock price saw one of its best stretches over the last year between April 12, 2011 and April 26, 2011 when shares rose for 10 straight trading days, rising 12.4% (+$5.60). It saw one of its worst periods between July 25, 2011 and August 2, 2011 when shares fell for seven straight trading days, falling 8% (-$4.60).

Baker Hughes Inc. (NYSE:BHI) stocks are trading at $56.01. This is $1.75 (-3%) below the previous close of $57.76, making the company one of the biggest price losers in the sector today. Baker Hughes Inc. provides products and services for the drilling and evaluation of oil and gas wells as well as fluids and chemicals and reservoir technology.

Stock Price Performance: From July 18, 2011, to September 13, 2011, the stock price had fallen $19.08 (-24.8%) from $76.84 to $57.76. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 7, 2011 when shares rose for nine straight trading days, rising 12.1% (+$8.09). It saw one of its worst periods between July 28, 2011 and August 8, 2011 when shares fell for eight straight trading days, falling 26.2% (-$20.43).

Holly Corporation (NYSE:HOC) is among the price losers in the sector. Its shares are trading at $31.86, which is 87 cents (-2.7%) below the previous close of $32.73. Holly Corp is mainly an independent petroleum refiner which produces high value light products such as gasoline, diesel fuel and jet fuel.

Stock Price Performance: From May 4, 2011, to June 30, 2011, the stock price had risen $17.30 (33.2%) from $52.10 to $69.40. The stock price saw one of its best stretches over the last year between January 25, 2011 and February 8, 2011 when shares rose for 11 straight trading days, rising 30.7% (+$12.98). It saw one of its worst periods between April 5, 2011 and April 12, 2011 when shares fell for six straight trading days, falling 10.6% (-$6.86).

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is among the price losers in the sector as its stock price is $22.29, down 68 cents (-2.9%) from the previous close of $22.96. Patterson-UTI Energy, Inc. is a provider of contract services to the North American oil and natural gas industry.

Stock Price Performance: From July 15, 2011, to September 12, 2011, the stock price had fallen $10.79 (-32.2%) from $33.50 to $22.71. The stock price saw one of its best stretches over the last year between January 24, 2011 and February 7, 2011 when shares rose for 11 straight trading days, rising 27.9% (+$5.67). It saw one of its worst periods between July 28, 2011 and August 8, 2011 when shares fell for eight straight trading days, falling 28.5% (-$9.36).

Rpc Inc. (NYSE:RES) is one of the sector losers in price. Its shares are trading at $22.47, down 72 cents (-3%) from the previous close of $23.17. RPC Inc. provides a range of specialized oilfield services and equipment mainly to independent and oil and gas companies engaged in the exploration, production and development of oil and gas properties.

Stock Price Performance: From July 18, 2011, to September 13, 2011, the stock price had fallen $2.84 (-10.9%) from $26.01 to $23.17. The stock price saw one of its best stretches over the last year between April 12, 2011 and April 25, 2011 when shares rose for nine straight trading days, rising 21.1% (+$4.61). It saw one of its worst periods between July 22, 2011 and August 2, 2011 when shares fell for eight straight trading days, falling 16.5% (-$4.42).

 

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