Chesapeake Energy and These 4 Stocks are Sagging as Oil Drops

Oil prices and weak economic data from Europe is bringing down the Energy (NYSE:XLE) sector. 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 Chesapeake Energy Corporation (NYSE:CHK) are trading at $30.22, down $1.89 (-5.9%) from the previous close of $32.11. Chesapeake Energy Corp. is a company that explores and develops properties for the production of crude oil and natural gas from underground reservoirs.

Stock Price Performance: From June 9, 2011, to September 2, 2011, the stock price had risen $2.45 (8.3%) from $29.66 to $32.11. The stock price saw one of its best stretches over the last year between January 4, 2011 and January 12, 2011 when shares rose for seven straight trading days, rising 6.4% (+$1.66). It saw one of its worst periods between May 10, 2011 and May 17, 2011 when shares fell for six straight trading days, falling 8% (-$2.52).

CONSOL Energy Inc. (NYSE:CNX) is among the price losers in the sector. Its shares are trading at $42.52, which is $2.33 (-5%) below the previous close of $44.78. Consol Energy, Inc. is a coal and gas energy producer and energy services provider that mainly serves the electric power generation industry in the United States.

Stock Price Performance: From July 8, 2011, to September 2, 2011, the stock price had fallen $5.35 (-10.7%) from $50.13 to $44.78. The stock price saw one of its best stretches over the last year between July 12, 2011 and July 22, 2011 when shares rose for nine straight trading days, rising 14.1% (+$6.74). It saw one of its worst periods between July 29, 2011 and August 8, 2011 when shares fell for seven straight trading days, falling 30.9% (-$16.54).

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) stocks are trading at $22.09. This is $1.26 (-5.4%) below the previous close of $23.36, making the company one of the biggest price losers in the sector today. Patterson-UTI Energy, Inc. is a provider of contract services to the North American oil and natural gas industry.

Stock Price Performance: From July 8, 2011, to September 2, 2011, the stock price had fallen $9.01 (-27.8%) from $32.37 to $23.36. 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 among the price losers in the sector. Its shares are trading at $23.09, which is $1.47 (-6.1%) below the previous close of $24.59. 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 August 5, 2011, to September 2, 2011, the stock price had risen $5.14 (26.4%) from $19.45 to $24.59. 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).