COP - Why Energy Stocks Like ExxonMobil Phillips 66 and Enterprise Products Partners Fell Today
As of roughly 2 p.m. EDT Monday, shares of diversified energy giant ExxonMobil (NYSE: XOM) had fallen by as much as 5%. Exploration and production giant ConocoPhillips (NYSE: COP) was down by about the same percentage, while relatively tiny Matador Resources (NYSE: MTDR) was off by roughly 10%.
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But it wasn't just upstream drillers that got hit. Downstream -focused Phillips 66 (NYSE: PSX) , which refines oil, also dropped as much as 5%. And so did midstream bellwether Enterprise Products Partners (NYSE: EPD) . In other words, the entire energy sector took it on the chin Monday.
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Why Energy Stocks Like ExxonMobil, Phillips 66, and Enterprise Products Partners Fell Today