Energy stocks in the S&P 500 Index fell across the board Thursday after the Federal Reserve announced plans to begin curbing stimulus measures. The SPDR Energy Select Sector ETF (NYSEARCA:XLE - News) declined 2.91 percent, while the S&P 500 Index posted a decline of 2.50 percent. Fed Chairman Ben Bernanke has stated that the government would slow down bond purchases later this year and end them all together the end of 2014 if the economy continues to improve. Oil prices were also pressured by disappointing manufacturing data from China signaling a further cooling in the nation’s economy.
Baker Hughes Inc. (NYSE:BHI - News) shares traded in the range of $44.75 to $45.53 Thursday before settling to close at $44.92, a decrease of 2.11 percent. The stock appears to be some facing resistance at $45.09 with some support at $44.67. Shares of Baker Hughes have gained approximately 10.0 percent in 2013.
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Kinder Morgan Inc. (NYSE:KMI - News) shares traded in the range of $36.10 to $37.73 Thursday before settling to close at $36.30, a decrease of 4.62 percent. The stock appears to be some facing resistance at $36.60 with some support at $36.15. Shares of Kinder Morgan have fallen approximately 2.75 percent in 2013.
More information on Kinder Morgan and access to the free equity report can be found at:
Range Resources Corp. (NYSE:RRC - News) shares traded in the range of $75.99 to $78.45 Thursday before settling to close at $77.52, a decrease of 2.17 percent. The stock appears to be some facing resistance at $78.54 with some support at $77.48. Shares of Range Resources have gained approximately 23.4 percent in 2013.
More information on Range Resources and access to the free equity report can be found at:
WPX Energy Inc. (NYSE:WPX - News) shares traded in the range of $18.74 to $19.69 Thursday before settling to close at $18.80, a decrease of 5.62 percent. The stock appears to be facing some resistance at $18.84 with some support at $18.48. Shares of WPX Energy have gained approximately 26.3 percent in 2013.
More information on WPX Energy and access to the free equity report can be found at:
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