Quantcast

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


Shutterstock photo

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.

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



This article appears in: Investing , Energy
Referenced Symbols: WFT , HAL , TOT , SAEX


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities








Research Brokers before you trade

Want to trade FX?





Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com