Energy Sector Update for 04/20/2017: HLX,SAEX,KMI,PBR

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Top Energy Stocks

XOM +1.28%

CVX +1.23%

COP +1.17%

SLB +0.52%

OXY +0.39%

Energy stocks were broadly higher Thursday, with the NYSE Energy Sector Index rising about 0.9% while shares of energy companies in the S&P 500 were up nearly 1.1% as a group. Crude oil for June delivery was up 3 cents at $50.85 per barrel while May natural gas futures were 4 cents lower at $3.15 per 1 million BTU.

In company news, Helix Energy Solutions Group ( HLX ) was sailing higher Thursday after the marine oilfield-services company late yesterday said its Siem Helix 1 well intervention vessel has begun work offshore of Brazil under a multi-year contract with Petroleo Brasileiro SA ( PBR ), the state-owned energy major better known as Petrobras.

The company said it agreed to a reduced day rate for the Siem Helix 1 as it works through certain items identified in the vessel acceptance process.

HLX shares were up 1.2% at $7.38 apiece, or roughly halfway through today's trading range of $7.30 to $7.51 a share.

In other sector news,

(+) SAEX, (+10.1%) Receives new contract awards in Columbia and Canada totaling about $20 mln and are expecting to be performed during the second half of 2017.

(-) KMI, (-1.1%) Reports Q1 EPS of $0.18 on $3.424 bln in revenue compared with Street view expecting net income of $0.18 per share on $3.29 bln in revenue. Keeps quarterly dividend unchanged at $0.125 per share.

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

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This article appears in: Investing , Energy
Referenced Symbols: HLX , PBR , SAEX , KMI

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