Oil & Gas Sector Getting Nailed
The oil & Gas Sector is one of the worst performing areas in the market today, currently trading down 1.7% on the session. A 3% plunge in crude oil futures is fueling the drop.
The worst performing stocks in the S&P Oil & Gas Sector currently are:
1) Hess Corporation (NYSE: HES): Shares of Hess are currently trading down 3.1% from yesterday's close to $71.06. The stock tested, and failed to break above, its 200-day simple moving average (one year daily chart) in yesterday's session. A bearish “mountain range” pattern has taken shape on a one year daily chart - $61.06 may serve as a potential target price.
2) Tesoro (NYSE: TSO): Shares of Tesoro are currently trading down 3.1% from yesterday's close to $21.26. The stock is nearing a key support level around $20.60. After that, no support comes into play until $17.68.
3) Newfield Exploration (NYSE: NFX): Shares of Newfield Exploration are currently trading down 3.1% from yesterday's close to $64.30. The stock is looking to test key support at $63.08. After that, no support comes into play until $57.95.
4) Valero Energy (NYSE: VLO): Shares of Valero Energy are currently trading down 2.9% from yesterday's close to $24.52. The stock is looking to test its 200-day simple moving average (one year daily chart), which is currently at $23.52.
5) Marathon Oil (NYSE: MRO): Shares of Marathon Oil are currently trading down 2.8% from yesterday's close to $50.57. The stock has been stuck in a consolidation range ($48.49 to $54.33) since March 16th. A break in either direction could provide a large percentage move.
