Energy Sector Update for 08/22/2017: WFT,TOT,SAEX

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Top Energy Stocks

XOM +0.45%

CVX +0.57%

COP +1.68%

SLB +0.57%

OXY +0.65%

Energy stocks were ending mostly higher today, with the NYSE Energy Sector Index rising nearly 0.8% while shares of energy companies in the S&P 500 were up just over 0.7% as a group. Crude oil for September delivery settled 27 cents higher at $47.64 per barrel while September natural gas futures fell 2 cents to $2.94 per 1 million BTU.

In company news, Weatherford International ( WFT ) was hanging on to a moderate gain late in Tuesday's regular session, rising almost 2% and slipping slightly from a session high of $62.95 a share earlier today after the oilfield-services company late yesterday named Karl Blanchard as its new chief operating officer.

Most recently, Blanchard had been chief operating officer for Seventy Seven Energy, where he oversaw drilling, pressure-pumping and rental tool operations. Prior to that, he spent over 30 years at Halliburton ( HAL ) where he held several senior leadership positions.

In other sector news,

(+) TOT, Price target increased by EUR1 to EUR55 per share by analysts at BMO Capital, who also kept their Outperform rating for the company's stock.

(-) SAEX, Q2 net loss of $1.91 per share reverses a split-adjusted $1.97 per share profit during the year-ago period. Revenue tumbles over 76% compared with the same quarter last year to $13.56 mln. Analyst estimates were not available.

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: WFT , HAL , TOT , SAEX

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