August Carnage Among The Shale Stocks

While many of the shale stocks took a shellacking in August, the major oil companies held up relatively well, even though oil price declined about $5.  For example, ExxonMobil’s stock price was only down 9%, based on an 8% drop in the oil price. Below, we can see that Whiting Petroleum was hit hard the most, by losing 63% of its value since the beginning of the month, followed by Oasis, (-44%), Concho (-30%), Laredo (-27%), and Continental Resources (-26%):