Another major is hurricane is spinning toward an American coastline. And yet again, the energy sector is responding.
This time it’s Hurricane Irma headed for the Florida panhandle, with concerns on the impact to energy demand as millions are displaced.
Irma is the second hurricane in two weeks to move on the United States after Hurricane Harvey slammed into Texas and idled a quarter of U.S. refinery capacity.
Here are three stocks that are not weathering the storm so well.
Energy Stocks: Pioneer Natural Resources (PXD)
Pioneer Natural Resources (NYSE:PXD) shares are dropping to test their August lows, capping a near 40% decline from their February highs. Shares are down nearly 50% from the highs set in 2014, back when shale oil was hot and OPEC hadn’t yet launched their price war.
The company will next report results on Nov. 1 after the close. Analysts are looking for earnings of 28 cents per share on revenues of $1.2 billion. When the company last reported on Aug. 1, earnings of 21 cents per share beat estimates by 10 cents on a 107.4% rise in revenues.
Energy Stocks: Apache (APA)
Apache Corporation (NYSE:APA) is crumbling under the weight of Hurricane Irma, closing Friday down 3.5%, right around its 52-week lows. APA shares are down more than 60% from their 2014 high are have fallen 20% over the past two months as the ongoing decline in shale oil and gas exploration continues to weigh on results.
Management recently lowered production guidance, suggesting the top line pressure is set to persist.
The company will next report results on Nov. 2 before the bell. Analysts are looking for earnings of two cents per share on revenues of $1.4 billion.
When the company last reported on Aug. 3, a loss of 21 cents per share was 20 cents worse than expected on a 0.1% rise in revenues.
Energy Stocks: Anadarko (APC)
Anadarko Petroleum Corporation (NYSE:APC) is approaching a 50% decline from its recent high, a persistent downtrend below both its 50-day and 200-day moving averages; with an even deeper decline from the summertime 2014 high near $110.
The company will next report results on Oct. 31 after the close. Analysts are looking for a loss of 55 cents per share on revenues of $2.5 billion. When it last reported on July 24, a loss of 75 cents per share was 40 cents worse than expected despite a 41.8% rise in revenues.
Anthony Mirhaydari is the founder of the Edge (ETFs) and Edge Pro (Options) investment advisory newsletters. Free two- and four-week trial offers have been extended to InvestorPlace readers.
