In this article, we are going to discuss the energy stocks that are losing this week.
The S&P Energy index has started the new year on a high, posting gains of 6.78% since the beginning of 2026, compared with a 1.38% surge in the overall S&P 500.
Meanwhile, global crude oil prices have been volatile this week, with WTI crude oil futures settling at $59.4 per barrel as the market weighed lingering geopolitical risks against easing concerns of an immediate US strike on Iran. That said, 2026 may be a difficult year for the global crude oil industry. On January 12, Goldman Sachs maintained its average Brent/WTI price forecasts of $56/$52 per barrel for the year. The investment bank expects the ongoing market surplus to push prices lower, though geopolitical risks tied to Russia, Venezuela, and Iran will continue to drive volatility.
At the same time, US natural gas futures are currently hovering around $3.1 MMBtu, down by over 70% from the multi-year high they hit in early December, after this week’s storage data showed a much smaller withdrawal than forecast, indicating looser supply-demand conditions. The decline has also been driven by a slide in flows to LNG export plants in recent days, reducing a key source of demand for natural gas in America.
Our Methodology
To collect data for this article, we used stock screeners to identify energy stocks that have fallen the most between January 9 and January 16, 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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7. Expand Energy Corporation (NASDAQ:EXE)
Share Price Decline Between Jan. 9 – Jan. 16: 1.72%
Formed in 2024 by the merger of Chesapeake Energy Corporation and Southwestern Energy Company, Expand Energy Corporation (NASDAQ:EXE) operates as an independent natural gas production company in the United States.
Expand Energy Corporation (NASDAQ:EXE) had a setback on January 16 when BofA lowered its price target on the stock from $143 to $125, but maintained a ‘Buy’ rating on the shares. The lowered target comes as the firm reduced its price objectives for the gas-levered E&P group, driven by a rising risk of oversupply in 2027 and lower price forecasts.
Earlier on January 8, UBS analyst Josh Silverstein also cut the firm’s price target on Expand Energy Corporation (NASDAQ:EXE) from $154 to $150, while keeping a ‘Buy’ rating on the shares.
Expand Energy Corporation (NASDAQ:EXE) has also been under pressure over the last month due to a decline in natural gas prices. Natural gas futures fell to a 3-month low of $3.1 per MMBtu on January 16 after storage data showed a much smaller withdrawal than projected, indicating looser supply-demand conditions.
6. Natural Gas Services Group, Inc. (NYSE:NGS)
Share Price Decline Between Jan. 9 – Jan. 16: 2.18%
Natural Gas Services Group, Inc. (NYSE:NGS) specializes in providing high-performance compression solutions tailored to the needs of the oil and natural gas industry.
On January 13, Raymond James downgraded Natural Gas Services Group, Inc. (NYSE:NGS) from ‘Strong Buy’ to ‘Outperform’. However, the analyst also increased the stock’s price target from $34 to $42, indicating an upside of almost 25% from current levels.
Raymond James believes that the compression sector looks to have a healthy runway, driven by an increase in natural gas demand due to growth in the US LNG export capacity, as well as the rising energy consumption by data centers.
Despite having a slow start to the new year, the share price of Natural Gas Services Group, Inc. (NYSE:NGS) has gained by more than 23% over the last 12 months.
5. Phillips 66 (NYSE:PSX)
Share Price Decline Between Jan. 9 – Jan. 16: 2.73%
Phillips 66 (NYSE:PSX) is a leading integrated downstream energy provider that is engaged in refining, transporting, and marketing fuels.
Phillips 66 (NYSE:PSX) surged to a 52-week high earlier this month after investors deemed the company as one of the largest potential beneficiaries from the US action in Venezuela, since its refineries are specifically designed to process heavy sour grade crude like that from the South American country. However, the stock has since witnessed a slight downturn, possibly due to investors taking their profits.
Moreover, on January 13, JPMorgan reduced its price target on Phillips 66 (NYSE:PSX) from $154 to $151, while maintaining an ‘Overweight’ rating on the shares. The revision comes as the firm adjusted its targets for recent commodity prices as part of a Q4 preview.
Similarly, earlier on January 12, Piper Sandler also lowered its price target on Phillips 66 (NYSE:PSX) from $155 to $153, but kept its ‘Neutral’ rating on the shares. The analyst believes US refiners will experience the largest near-term impact from the action in Venezuela. The firm expects the Venezuelan crude volumes arriving in the US to double from the current 200,000 bpd to 400,000 bpd, driven by a combination of US involvement and sanction relief.
4. HF Sinclair Corporation (NYSE:DINO)
Share Price Decline Between Jan. 9 – Jan. 16: 3.32%
HF Sinclair Corporation (NYSE:DINO) is an independent petroleum refiner in the United States with operations throughout the mid-continent, southwestern, and Rocky Mountain regions.
On January 16, Scotiabank analyst Paul Cheng reduced the firm’s price target on HF Sinclair Corporation (NYSE:DINO) from $66 to $62, but kept an ‘Outperform’ rating on the shares. The adjustment is a part of the firm updating its price targets for the American Integrated Oil, Refining, and Large Cap E&P stocks under its coverage.
On the same day, Piper Sandler also slightly lowered its price target on HF Sinclair Corporation (NYSE:DINO) from $68 to $67, while maintaining an ‘Overweight’ rating on the shares. The firm cited slight adjustments to operating assumptions behind the change, as it reduced its Q4 2025 EPS estimates for DINO from $0.96 per share previously to $0.44 per share, while also lowering its EBITDA forecasts from $473 million previously to $358 million. The downward revision is driven by a weaker-than-expected West Coast performance, specifically lower refining capture rates and throughput, and a modest adjustment to DINO’s Lubes segment.
That said, despite the challenges, Piper Sandler remains bullish on HF Sinclair Corporation (NYSE:DINO) heading into 2026, as it views the West Coast issues as ‘non-recurring’.
3. Weatherford International plc (NASDAQ:WFRD)
Share Price Decline Between Jan. 9 – Jan. 16: 6.16%
Weatherford International plc (NASDAQ:WFRD) provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide.
Weatherford International plc (NASDAQ:WFRD) hit a 52-week high earlier this month, driven by the market excitement around the US action in Venezuela. The company’s CEO, Girish Saligram, called Venezuela a ‘massive opportunity’ for the American oilfield services sector, as it would prove to be crucial in reviving the country’s crumbling oil infrastructure.
The rally was also driven by increased analyst attention. On January 12, BofA raised its price target on Weatherford International plc (NASDAQ:WFRD) from $82 to $98, while keeping a ‘Buy’ rating on the shares. Then on January 14, Goldman Sachs also increased its price target on WFRD from $73 to $83, and maintained a ‘Neutral’ rating on the shares.
However, Weatherford International plc (NASDAQ:WFRD) has witnessed a slight downturn since then, possibly due to profit-taking by investors following the strong rally. The decline may also have been caused by a correction in global crude oil prices over the last couple of days, following reports that Washington might delay its intervention in Iran.
2. Delek US Holdings, Inc. (NYSE:DK)
Share Price Decline Between Jan. 9 – Jan. 16: 9.6%
Delek US Holdings, Inc. (NYSE:DK) is a diversified downstream energy company specializing in petroleum refining, asphalt, renewable fuels, and logistics.
On January 16, Scotiabank reduced its price target on Delek US Holdings, Inc. (NYSE:DK) from $40 to $34, but kept its ‘Sector Perform’ rating on the shares. The revision comes as the firm updates its price targets for the US Integrated Oil, Refining, and Large Cap Exploration & Production stocks under its coverage. The analyst expects earnings for the quarter to be straightforward, as there were no major weather disruptions this winter.
Similarly, earlier on January 8, Piper Sandler also lowered its price target on Delek US Holdings, Inc. (NYSE:DK) from $47 to $40, but maintained a ‘Neutral’ rating on the shares. The analyst believes that the bearish crude outlook will make it hard for the sector to outperform the wider market as we head into 2026. On the other hand, Piper expects the refining sector to perform even better than in 2025, primarily due to incrementally tighter S/D and crude-differential tailwinds.
1. Oklo Inc. (NYSE:OKLO)
Share Price Decline Between Jan. 9 – Jan. 16: 9.84%
Topping our list of the Energy Stocks that Fell This Week is Oklo Inc. (NYSE:OKLO). Backed by OpenAI’s Sam Altman, the nuclear startup develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to customers in the United States.
Oklo Inc. (NYSE:OKLO) jumped by almost 47% earlier this month after the company struck a nuclear power agreement with Meta, with the two companies advancing plans to develop a 1.2 GW power campus in Ohio. The agreement aims to support Meta’s power needs for its data centers, with pre-construction activities expected to begin in 2026 and the first phase operational as soon as 2030. Moreover, Oklo announced an agreement with the US Department of Energy to develop a radioisotope pilot plant under the latter’s Reactor Pilot Program. So the recent share price correction may be due to investors booking profits.
Moreover, Oklo Inc. (NYSE:OKLO) also came under pressure following recent reports that Ormat, a geothermal company, has signed a 20-year power purchase agreement with data center operator Switch. Investors may now view geothermal as an emerging alternative to nuclear reactors to help power the AI boom.
While we acknowledge the potential of OKLO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than OKLO and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 10 High Yield Crude Oil Stocks to Buy After Trump’s Blitz in Venezuela and 11 Best Performing Energy Stocks in 2025.
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