Energy Sector Update for 03/17/2017: SND,FF,MCF

Shutterstock photo

Top Energy Stocks

XOM +0.03%

CVX +0.28%

COP -0.31%

SLB +0.32%

OXY +0.38%

Energy stocks were ending slightly higher on Friday, with the NYSE Energy Sector Index rising about 0.2% while shares of energy companies in the S&P 500 were up 0.1% as a group. Crude oil for April delivery settled little changed this afternoon, rising 5 cents to $48.80 per barrel while April natural gas futures rose 5 cents to $2.95 per 1 million BTU.

In company news, Smart Sand ( SND ) was extending its recent gains on Friday after analysts at Johnson Rice today raised their investment call for the provider of specialty sand used in hydraulic fracturing of oil and natural gas wells to Buy from Accumulate and raising its price target for the stock by $1 to $21 a share.

The upgrade follows Smart Sand yesterday reported Q4 net income of $0.40 per share, reversing a $0.01 per share net loss during the same quarter last year and beating the Capital IQ consensus by $0.02 per share. Sales of Northern White raw frac sand also rose sharply during the quarter, reaching 274,000 ton sold during the final three months of 2016, rising 19% and 156% over the preceding quarter and the year-ago quarter, respectively.

SND shares were up more than 9% at $15.84 in recent trade, previously rising to a session high of $16.82 a share.

In other sector news,

(+) FF, Q4 revenue more than doubles from year-ago levels, rising 104.8% to $69.4 mln. GAAP net income dips to $0.43 per share from $0.68 per share during the same period last year.

(-) MCF, RBC Capital Markets reduces price target by $1 to $13 a share, reiterating its Outperform rating.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Energy
Referenced Symbols: SND , FF , MCF

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Research Brokers before you trade

Want to trade FX?

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by