For the most part energy companies performed well in the first quarter despite bad weather across much of the world. I say for the most part because three energy stocks disappointed their investors in the quarter. Kodiak Oil & Gas (NYSE: KOG) blamed rough weather in North Dakota for its big earnings miss in the opening three months of 2014, while Chevron (CVX 0.48%) had weather problems of its own in Kazakhstan. Then there was National Oilwell Varco (NOV 0.26%), which didn't have any weather problems, but was still affected by a storm in the offshore rig market.
All three companies' stock values dropped in the wake of their respective earnings reports. Investors sold off these stocks due to worries that the problems hinted at in the first quarter were indicative of deeper issues below the surface. It's a legitimate concern.
However, I think investors in only one of three stocks need worry. To help investors see why that's so, I've created the presentation below that looks at the most recent quarters of Kodiak Oil & Gas, Chevron, and National Oilwell Varco to uncover what's worrisome and what's not.
