In this article, we are going to discuss the energy stocks that are losing this week.
The recent military action by the US in Venezuela has caused shockwaves across the global oil industry, as the South American country sits atop the largest oil reserves in the world. The White House has now taken control of sales of sanctioned Venezuelan oil ‘indefinitely’, calling for American oil companies to rebuild the country’s crumbling oil infrastructure and bring its heavy crude to Gulf Coast refineries, which were already designed to process this oil in the first place.
While this could present a serious opportunity for certain American oil producers, refiners, and oilfield service providers, oil traders are concerned by the prospects of large amounts of Venezuelan crude entering an already oversupplied market. As a result, the WTI crude oil futures have fallen to just over $56 per barrel, only slightly above the 4-year low they hit last month.
While the American oil giants are still assessing the situation, given the political uncertainty in Venezuela and their discouraging past experience in the country, President Trump remains optimistic. He has already claimed that the US oil industry would be ‘up and running’ in Venezuela within 18 months and has even announced a deal to import up to 50 million barrels of Venezuelan crude. However, oil traders view this move as adding supply to the world’s largest oil consumer, putting further downward pressure on prices.
Our Methodology
To collect data for this article, we used several stock screeners to identify energy stocks that declined the most between December 31, 2025, and January 7, 2026. The following are the Energy Stocks that Lost the Most This Week. The stocks are ranked according to their share price decline during this period.
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8. EOG Resources, Inc. (NYSE:EOG)
Share Price Decline Between Dec. 31 – Jan. 7: 2.34%
EOG Resources, Inc. (NYSE:EOG) is one of the largest crude oil and natural gas exploration and production companies in the United States, with proved reserves in the US and Trinidad.
On January 5, Bernstein analyst Bob Brackett trimmed the firm’s price target on EOG Resources, Inc. (NYSE:EOG) from $144 to $126, while keeping a ‘Market Perform’ rating on the shares. The revised target still indicates an upside of almost 23% from the current share price. The analyst believes that 2026 will be a ‘transitional year’ for shale operators such as EOG, as shale production is expected to plateau and then decline. This will lead producers to assume various risks as they seek to replace inventory, including acquisition, exploration, and geopolitical risks. Bernstein has begun the new year with a balanced view for oil, expecting rough times in the near term but more strength later.
EOG Resources, Inc. (NYSE:EOG) has also come under pressure from the recent fall in global crude oil prices. Ann Janssen, the finance chief of EOG, stated on January 7 that the decline is driven by oversupply and the prospect of higher production from Venezuela and could persist for several more quarters.
7. Sunrun Inc. (NASDAQ:RUN)
Share Price Decline Between Dec. 31 – Jan. 7: 5.65%
Sunrun Inc. (NASDAQ:RUN) is America’s leading provider of clean energy as a subscription service, offering residential solar and energy storage with no upfront costs.
On January 7, Deutsche Bank lowered its price target on Sunrun Inc. (NASDAQ:RUN) from $20 to $19, while maintaining a ‘Hold’ rating on the shares.
However, on a positive note, Sunrun Inc. (NASDAQ:RUN) announced on January 6 that it has formed a joint venture with HA Sustainable Infrastructure to finance distributed energy assets across the United States. Under the agreement, HASI will invest $500 million in the JV over an 18-month period, with the intention of financing 300 MW of solar and energy storage capacity. While HASI’s equity investment will monetize a part of long-term customer cash flows from the underlying assets, Sunrun will be able to retain a significant long-term ownership stake in the assets. Moreover, the JV will provide the solar energy company with greater flexibility in arranging senior project debt.
Danny Abajian, Chief Financial Officer of Sunrun Inc. (NASDAQ:RUN), commented:
This innovative financing structure with HASI is a first-of-a-kind for residential storage and solar financing. We appreciate the collaboration with the HASI team and continued innovation to unlock additional value for both companies along with our customers across the country. This partnership provides for an efficient capital structure, which we anticipate will allow aggregate proceeds that are equal to or better than Sunrun’s traditional financing arrangements. This structure is consistent with our strategy to utilize various structures and a diverse set of capital providers to finance our growth.
With gains of almost 99% last year, Sunrun Inc. (NASDAQ:RUN) is included among the 11 Best Performing Energy Stocks in 2025.
6. Devon Energy Corporation (NYSE:DVN)
Share Price Decline Between Dec. 31 – Jan. 7: 5.9%
Devon Energy Corporation (NYSE:DVN) is a leading independent energy company engaged in finding and producing oil and natural gas, with operations focused onshore in the United States.
On January 5, Bernstein trimmed its price target on Devon Energy Corporation (NYSE:DVN) from $48 to $42, but maintained its ‘Outperform’ rating on the shares. The analyst firm has started 2026 with a balanced view for crude oil, expecting rough times in the near term but more strength later.
Devon Energy Corporation (NYSE:DVN) has also come under pressure from the recent decline in global crude oil prices, with WTI futures currently hovering only slightly above the 4-year low they reached last month. The downturn comes as traders assess the recent U.S. actions regarding Venezuela and the potential impact of Venezuelan crude entering an already oversupplied market.
Devon Energy Corporation (NYSE:DVN) was recently included among the 10 Best Natural Gas Stocks to Buy Right Now.
5. Cenovus Energy Inc. (NYSE:CVE)
Share Price Decline Between Dec. 31 – Jan. 7: 6.32%
Cenovus Energy Inc. (NYSE:CVE) is an integrated energy company with oil and natural gas production operations in Canada and the Asia-Pacific region, and upgrading, refining, and marketing operations in Canada and the United States.
Cenovus Energy Inc. (NYSE:CVE) was among the Canadian oil stocks that took a hit following the recent US action in Venezuela and the capture of Nicolas Maduro. The prospects of large amounts of Venezuelan crude making its way to America’s Gulf refineries spell bad news for Canadian oil providers, especially those linked to Canadian oil sands, as Venezuela’s oil is similar to that produced in Alberta.
Nearly 60% of American crude oil imports come from Canada, and even if a portion of this is replaced with Venezuelan crude, it could impact producers in the short term. Moreover, the cheaper oil coming from Venezuela would potentially drive down the price American buyers pay to Canadian producers, putting further pressure on margins and profits in an already low-priced environment.
However, the market’s reaction seems to be overdone, as getting Venezuela’s dilapidated oil infrastructure back to peak production would still require significant time and tens of billions of dollars in investment, in addition to political stability.
In other news, on January 2, Goldman Sachs analyst Neil Mehta reinstated coverage of Cenovus Energy Inc. (NYSE:CVE) with a ‘Buy’ rating and a price target of $20, representing an upside of over 26% from the current levels.
4. Diamondback Energy, Inc. (NASDAQ:FANG)
Share Price Decline Between Dec. 31 – Jan. 7: 6.57%
Diamondback Energy, Inc. (NASDAQ:FANG) is an independent oil and natural gas company, focused on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.
On January 6, Citi trimmed its price target on Diamondback Energy, Inc. (NASDAQ:FANG) from $180 to $178, while maintaining a ‘Buy’ rating on the shares. The reduced target still indicates an upside of almost 27% from the current share price.
Earlier on January 5, Bernstein also lowered its price target on Diamondback Energy, Inc. (NASDAQ:FANG) from $199 to $190, but kept its ‘Outperform’ rating on the shares. The analyst has started 2026 with a balanced view for oil, but expects choppiness in the near term, and more strength later. Despite the reduced target, Bernstein identifies FANG as its ‘top oil idea’, highlighting the company’s low-risk abundant inventory and ongoing de-leveraging strategy as positive factors in a rapidly evolving energy landscape.
Following the recent downturn, the share price of Diamondback Energy, Inc. (NASDAQ:FANG) has fallen by more than 18% over the last year.
3. First Solar, Inc. (NASDAQ:FSLR)
Share Price Decline Between Dec. 31 – Jan. 7: 7.7%
Next on our list of Energy Stocks that Fell This Week is First Solar, Inc. (NASDAQ:FSLR), a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules.
First Solar, Inc. (NASDAQ:FSLR) received a blow on January 7 when Jefferies downgraded the stock from ‘Buy’ to ‘Hold’, while also reducing its price target from $269 to $260. The firm remains cautious on FSLR in 2026 as it doesn’t see the company improving its bookings, a key aspect of its business. Moreover, the analyst highlighted how the solar firm’s management lowered its guidance several times last year. He now expects these headwinds to ‘underwhelm investor expectations’, especially with the sharp decline in prices in Germany. As a result, the analyst sees limited upside for the stock.
However, not all analysts are as cautious: on January 7, Deutsche Bank significantly raised its price target on First Solar, Inc. (NASDAQ:FSLR) from $255 to $300 and maintained its ‘Buy’ rating on the shares.
2. Canadian Natural Resources Limited (NYSE:CNQ)
Share Price Decline Between Dec. 31 – Jan. 7: 9.63%
Canadian Natural Resources Limited (NYSE:CNQ) is a senior crude oil and natural gas producer with ongoing operations in its core areas in Western Canada, the UK portion of the North Sea, and offshore Africa.
Canadian Natural Resources Limited (NYSE:CNQ) was among the Canadian oil stocks that suffered a blow from the recent US blitz in Venezuela, which ended with the capture of President Nicolas Maduro. The Trump administration now wants American companies to develop the South American country’s rich oil reserves and send the oil over to Gulf Coast refineries. In fact, the President has already announced that Venezuela would be ‘turning over’ up to 50 million barrels of oil to the US. This could threaten Canadian producers, especially those linked to oil sands like Cenovus, as Venezuela’s heavy sour crude is very similar to that coming from Alberta.
Around 60% of the US crude imports come from its northern neighbor, and even if a portion of this is replaced by Venezuelan oil, it could have a significant impact on Canadian producers like Canadian Natural Resources Limited (NYSE:CNQ) in the short term. Moreover, the prospect of large volumes of cheaper Venezuelan crude entering the US market would also drive prices down for Canadian producers, further pressuring margins and profits in an already tough environment.
Canadian Natural Resources Limited (NYSE:CNQ) also came under pressure on January 6 when Evercore ISI analyst Stephen Richardson downgraded the stock from ‘Outperform’ to ‘In Line’, while leaving its price target unchanged at C$50.
1. Gulfport Energy Corporation (NYSE:GPOR)
Share Price Decline Between Dec. 31 – Jan. 7: 10.59%
Topping our list of Energy Stocks that Fell This Week is Gulfport Energy Corporation (NYSE:GPOR), an independent natural gas-weighted exploration and production company with assets primarily located in the Appalachia and Anadarko basins.
Gulfport Energy Corporation (NYSE:GPOR) took a hit on January 5 when Wolfe Research downgraded the stock from ‘Outperform’ to ‘Peer Perform’, without assigning the stock a price target. The downgrade comes as Wolfe trimmed its long-term natural gas price estimates by 25 cents to $4 per thousand cubic feet (mcf). The analyst now sees ‘no compelling reason’ why investors should prefer GPOR over its peers and believes that the stock is trading near fair value.
Gulfport Energy Corporation (NYSE:GPOR) also came under pressure when the US natural gas futures plunged to a 10-week low of $3.35 on January 6, driven by forecasts pointing to warmer temperatures and hence a lower demand for heating.
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READ NEXT: 10 Best Natural Gas Stocks to Buy Right Now and 11 Best Performing Energy Stocks in 2025.
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