SAN FRANCISCO (MarketWatch) — Energy stocks fell Friday, ending the week 0.8% lower and mirroring the broader equity markets's worries about the looming debt-ceiling deadline and the political impasse in Washington.
Wall Street was also concerned about consumer sentiment, at its lowest since April. Separately, the Commerce Department said Friday consumer spending rose 0.3% in August.
Major energy decliners on Friday included coal producer Peabody Energy Corp. (BTU) , with shares down 2%. Southwestern Energy Co. (SWN) shares fell 2.2%.
Devon Energy Corp. (DVN) shares declined 1.3%.
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A unit of Devon Energy, Devon Midstream Partners LP, filed plans for an initial public offering of up to $400 million. Proceeds will be used to reimburse Devon Energy for capital expenditures.
The partnership was formed by Devon to work on logistics, transport, and storage of natural gas for Devon Energy. The new company plans to list on the New York Stock Exchange under the symbol DVNM.
Shares of Exxon Mobil Corp. (XOM) fell 0.2%, while shares of Chevron Corp. (CVX) were down 0.7%. ConocoPhillips (COP) shares turned higher, however, ending up 0.1%.
Exxon said Friday it will extend benefits to same-sex spouses of U.S. employees. The company already extends same-sex benefits to employees in countries where local laws allow the marriages.
U.S.-listed shares of Royal Dutch Shell PLC (RDS.A) rose 0.1%.
Among a handful of gainers, Marathon Petroleum Corp. (MPC) shares advanced 1.3%.
Marathon Petroleum's board approved an additional $2 billion for share buybacks, more than doubling the amount the company has set aside for repurchases.
"Our focus continues to be returning capital to our shareholders on a sustained basis while making value-enhancing investments in the business," Marathon Petroleum President and Chief Executive Gary R. Heminger said in a statement Thursday.
The refiner was spun off from Marathon Oil Corp. (MRO) in 2011. Shares of Marathon Oil lost 1.1%.
The SPDR Energy Select Sector (XLE) , an exchange-traded fund focused on energy names, fell 0.4%.
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