Oil prices retreated again this week, falling by more than 4%, and hitting a fresh three-month low. This weakness put a lot of pressure on oil stocks, sending shares of several oil companies down by double digits. According toS&P Capital IQdata,Atlas Resource Partners , Penn Virginia , and BreitBurn Energy Partners were the biggest energy movers this week.
While weak oil prices were clearly what sent Atlas Resource Partners, BreitBurn Energy Partners, and Penn Virginialower, it wasn't the only factor in the double-digit drubbing of these stocks. In Penn Virginia's case, the sell-off was a bit more company-specific, as it had news that investors didn't like.
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However, nearly every other double-digit loser this week had one particular trait in common: Companies organized as an upstream MLP were among the hardest hit. It's what really fueled the double-digit sell-off in not only Atlas Resource Partners and BreitBurn Energy Partners, but four other upstream MLPs. To learn more about why these stocks fell so sharply this week, check out the slideshow below.
The article Why Atlas Resource Partners, Penn Virginia, and BreitBurn Energy Partners All Plunged This Week originally appeared on Fool.com.
Matt DiLallo owns shares of Linn Energy, LLC. The Motley Fool recommends BreitBurn Energy Partners. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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