Table 3 Response of stock to Brent oil price shocks per company
From: Brent prices and oil stock behaviors: evidence from Nigerian listed oil stocks
Company | Response of stock to Brent oil price shocks |
|---|---|
Beco Petroleum Product Plc. | Positive response to shocks in the first two periods, after which its response fluctuates. In period 20, Beco stocks responded positively to oil shocks |
Conoil Plc | Positive response to shocks in the first two periods, after which its response fluctuates. Between the 16th and the 20th period, Conoil stocks responded more negatively to oil price shocks. |
Eterna Plc. | Eterna stocks fluctuate from the 1st to the 20th period. In period 20, Eterna stocks respond negatively to oil price shocks. |
Forte Oil Plc | Negative response to shocks in the first three periods, after which its response fluctuates. Between the 16th and the 20th period, Conoil stocks responded more negatively to oil price shocks. |
Mobil Oil Nigeria Plc. | Fluctuating response from the 1st period to the 20th period. However, between the 16th and the 20th period, Mobil stocks responded more negatively to oil price shocks. |
MRS Oil Nigeria Plc | Fluctuating response from the 1st period to the 20th period. However, between the 16th and the 20th period, Mobil stocks responded more negatively to oil price shocks. |
Oando Plc. | Fluctuating response from the 1st period to the 20th period. However, between the 16th and the 20th period, Mobil stocks responded more negatively to oil price shocks. |
Total Nigeria Plc. | Fluctuating response from the 1st period to the 20th period. However, between the 16th and the 20th period, Mobil stocks responded more negatively to oil price shocks. |