Energy Stocks: Energy stocks fall as Chevron, Exxon drop

By Steve Gelsi, MarketWatch

NEW YORK (MarketWatch) ? Energy stocks fell despite modest gains in the broad equities market on Friday, even as crude oil pries moved up.

Among big-cap names in the energy sector, Alpha Natural Resources /quotes/zigman/362718/quotes/nls/anr ANR -2.27% ?dropped 2.3%, Newfield Exploration Co. /quotes/zigman/133327/quotes/nls/nfx NFX -1.85% ?lost 1.9% and Hess Corp. /quotes/zigman/417764/quotes/nls/hes HES -1.40% ?dipped 1.4%.

On the plus side, Phillips 66 /quotes/zigman/9483013/quotes/nls/psx PSX +3.86% ?moved up by 3.9%, Weatherford International /quotes/zigman/504342/quotes/nls/wft WFT +3.16% ?advanced by 3.2% and QEP Resources /quotes/zigman/601078/quotes/nls/qep QEP +2.07% ?rose 2.1%.

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The Energy Select Sector SPDR Fund /quotes/zigman/246199/quotes/nls/xle XLE -0.04% , which includes energy stocks in the S&P 500 /quotes/zigman/3870025 SPX +0.19% , fell fractionally.

Chevron Corp. /quotes/zigman/289939/quotes/nls/cvx CVX -0.58% ?dipped 0.6% and Exxon Mobil Corp. /quotes/zigman/203975/quotes/nls/xom XOM -0.30% ?fell 0.3% The two oil producers are components of the Dow Jones Industrial Average /quotes/zigman/627449 DJIA +0.19% , which rose 25 points.

Crude oil futures for September delivery /quotes/zigman/2203153 CLU2 +0.64% ?advanced by 0.4%.

Among the major energy sector benchmarks, the NYSE Arca Oil Index /quotes/zigman/6015539 XX:XOI -0.51% ?dipped 0.5%, the NYSE Arca Natural Gas Index /quotes/zigman/6015474 XX:XNG -0.09% ?slipped 0.1% and the Philadelphia Oil Service Index /quotes/zigman/1470028 OSX +0.42% ?rose 0.4%.

The NYSE Arca Oil Index closed at 1,238 on Friday, below its ending point of 1,245 on Aug. 10. The NYSE Arca Natural Gas Index closed at 648 on Friday, under its ending point of 651 one week ago.

The Philadelphia Oil Service Index closed Friday at 230, up one points for the week.

Among movers, ION Geophysical Corp. /quotes/zigman/483035/quotes/nls/io IO -11.33% ?fell 11% after the energy firm said on Thursday it would ?pursue all available legal options,? including a possible appeal, after a federal jury returned a verdict against the Houston-based company in a patent-infringement case dating from 2009.

/quotes/zigman/362718/quotes/nls/anr

US : U.S.: NYSE

Volume: 14.13M

Aug. 17, 2012 4:00p

Rev. per Employee

$569,526

/quotes/zigman/133327/quotes/nls/nfx

US : U.S.: NYSE

Volume: 1.30M

Aug. 17, 2012 4:04p

/quotes/zigman/417764/quotes/nls/hes

US : U.S.: NYSE

Volume: 4.40M

Aug. 17, 2012 4:01p

/quotes/zigman/9483013/quotes/nls/psx

US : U.S.: NYSE

Volume: 5.54M

Aug. 17, 2012 4:03p

/quotes/zigman/504342/quotes/nls/wft

US : U.S.: NYSE

Volume: 8.52M

Aug. 17, 2012 4:01p

Rev. per Employee

$237,033

/quotes/zigman/601078/quotes/nls/qep

US : U.S.: NYSE

Volume: 2.87M

Aug. 17, 2012 4:01p

/quotes/zigman/246199/quotes/nls/xle

US : U.S.: NYSE Arca

Volume: 12.10M

Aug. 17, 2012 4:00p

/quotes/zigman/3870025

US : S&P Base CME

Volume: 585.81M

Aug. 17, 2012 4:32p

/quotes/zigman/289939/quotes/nls/cvx

US : U.S.: NYSE

Volume: 5.64M

Aug. 17, 2012 4:00p

Market Cap

$222.35 billion

/quotes/zigman/203975/quotes/nls/xom

US : U.S.: NYSE

Volume: 11.18M

Aug. 17, 2012 4:00p

Market Cap

$409.30 billion

/quotes/zigman/627449

US : DJ-Index

Volume: 138.55M

Aug. 17, 2012 4:30p

/quotes/zigman/2203153

US : U.S.: Nymex

Volume: 153,625

Aug. 17, 2012 5:14p

/quotes/zigman/6015539

XX : NYSE Glb Ind

Volume: 0.00

Aug. 17, 2012 7:18p

/quotes/zigman/6015474

XX : NYSE Glb Ind

Volume: 0.00

Aug. 17, 2012 7:18p

/quotes/zigman/1470028

US : PHLX Ind Cur

Volume: 0.00

Aug. 17, 2012 5:18p

/quotes/zigman/483035/quotes/nls/io

US : U.S.: NYSE

Volume: 4.36M

Aug. 17, 2012 4:03p

Rev. per Employee

$525,572

Steve Gelsi is a reporter for MarketWatch in New York.

Words used in this article:

Source: http://feeds.marketwatch.com/~r/marketwatch/financial/~3/oLra_YE55XY/story.asp

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