Oil stocks look likely to continue their recent losses
Next week brings the start of July, and with it another holiday. Senior Quantitative Analyst Rocky White looked into some of the best and worst performers during 4th of July week, historically, and below we'll drill down -- no pun intended -- on the three worst stocks to own -- all of which come oil & gas sector. Rounding out the first three spots, respectively, are Exxon Mobil Corp (NYSE:XOM), Hess Corp (NYSE:HES), and EOG Resources Inc (NYSE:EOG).
The worst stock to own the week of July 4th is XOM, averaging a weekly loss of 1.2% over the past decade, and finishing the week lower 90% of the time. Sitting at its year-to-date breakeven level and the 20-day moving average, the equity last seen trading at $108.67 -- has been stuck in a descending trendline since November.
Over the past 10 years, Hess stock has finished 4th of July week lower 80% of the time, averaging a drop of 1.9%. Last seen trading at $138.36, HES is eyeing its third-straight drop and has shed more than 13% for the quarter. In 2025, HES has is clinging to a 4% gain, but could test this level in the next week.
EOG Resources stock averages a 1.7% drop during 4th of July week, and was lower 80% of the time. EOG has already slipped below its 2025 breakeven level, today on track to log a third-straight drop. The equity is off 0.8% to trade at $119.76, at last check. From current levels, the shares are below a downtrend off Jan. 16 annual high of $138.18.