The 9 Hardest-Hit Energy Companies
As anyone from Houston knows, the price of oil is wreaking havoc across the energy sector. These nine companies (five of which are based in the Houston area and most of which have major local footprints) are taking a beating.
ConocoPhillips (COP)
Current Stock Price: $41.29
One Year Ago: $63.23
YOY Change: -35%
The multinational energy giant HQ'd in Houston is lowering capital expenditures by 16% as well as reducing its quarterly dividend by two-thirds. Recently, it put 435k SF on the sublease market in Westlake Park.
National Oilwell Varco (NOV)
Current Stock Price: $31.59
One Year Ago: $49.36
YOY Change: -35%
Another Houston giant that has been hit hard, NOV has shut down 75 facilities around the world, cutting its global workforce by 21%.
Anadarko (APC)
Current Stock Price: $47.47
One Year Ago: $81.04
YOY Change: -41%
HQ'd in The Woodlands, capital expenditures at Anadarko are expected to be down 50% in 2016 to $2.8B, and recently it announced it's cutting about 17% of its workforce.
Freeport-McMoRan (FCX)
Current Stock Price: $10.57
One Year Ago: $19.33
YOY Change: -45%
The company recently announced a second cut to capital expenditures, down to $1.8B in 2016 and $1.2B in 2017.
BHP Billiton (BHP)
Current Stock Price: $26.52
One Year Ago: $49.41
YOY Change: -46%
The company HQ'd in Australia recently announced it's cutting interim dividends by 75%, the first reduction since 1988. BHP is prepping to move into its new tower, and put 320k SF in Four Oaks on the sublease market.
Devon Energy (DVN)
Current Stock Price: $27.59
One Year Ago: $57.97
YOY Change: -52%
The company announced it'll be cutting capital expenditures by 75% and eliminating 1,000 jobs. Devon Energy has 90k SF in Three Allen Center on the sublease market.
Marathon Oil (MRO)
Current Stock Price: $11.54
One Year Ago: $25.91
YOY Change: -57%
Capital expenditures are expected to decrease by 50% from 2015. The company will try to sell off almost $1B in assets this year, but not its Houston HQ, where it's offering up 81k SF to sublease.
Southwestern Energy (SWN)
Current Stock Price: $7.93
One Year Ago: $22.79
YOY Change: -65%
The company is implementing a workforce plan that will impact 1,100 jobs (40% of its workforce) in its new HQ in Springwoods Village.
Chesapeake Energy (CHK)
Current Stock Price: $4.74
One Year Ago: $14.11
YOY Change: -66%
The Oklahoma City-based energy company has been hit particularly hard. Shares have rebounded from the $1.50 52-week low earlier this year.
Many thanks to Transwestern's Rachel Alexander for providing data!
