Why These Oil Stocks Fell More Than 20% in September
Shares of oil drillers Occidental Petroleum (NYSE: OXY), Continental Resources (NYSE: CLR), and Kosmos Energy (NYSE: KOS) tumbled more than 20% in September, according to data provided by S&P Global Market Intelligence. All severely underperformed the S&P 500, which was only down 3.9% for the month.
Of the three companies, Occidental -- which also has some transportation, storage, and refining capacity -- saw the smallest drop, of just 21.4%. Shares of Continental Resources, which primarily operates in Oklahoma and North Dakota, fared slightly worse, dropping 28.5%. The much smaller Kosmos Energy, a deepwater explorer, fared the worst, with shares tumbling 33.6%.
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Source Fool.com
