Why Energy Giants Chevron, ExxonMobil, and Enterprise All Lost at Least 25% in the First Half of 2020
Shares of integrated energy giant Chevron Corporation (NYSE: CVX) fell a painful 26% in the first half of 2020, according to data from S&P Global Market Intelligence. That's bad, but it was even worse at peer ExxonMobil (NYSE: XOM), where the stock was down roughly 36%. Midstream bellwether Enterprise Products Partners (NYSE: EPD) didn't escape the hit, either, falling roughly the same amount as Exxon. There was, for the most part, no place to hide in the entry sector in the first six months of the year.
There's a short answer and a long answer here. The quick take is that oil prices plummeted and have yet to mount a material and sustained recovery to the levels seen in late 2019. That, however, doesn't do justice to the turbulence that the energy sector has experienced so far in 2020.
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Source Fool.com
