Top Energy Stocks
Energy stocks are adding to their earlier gains with the NYSE
Energy Sector Index (^NYE) now ahead by around 0.7% while the
S&P Energy Index (^IXE) is up about 0.8% shortly before the
close. Crude oil for June delivery (CLM13.NYM) settled 54 cents
lower at $95.62 per barrel, snapping a four-day winning streak.
June natural gas (NGM13.NYM) fell 9 cents to close at $3.92 per 1
In company news, PetroQuest Energy (
) is up 8.7% at $4.57 a share in late trade, climbing as high as
$4.65 today after posting Q1 earnings of $0.04 per share, topping
analyst estimates by $0.02 per share. Revenue was little changed
from the year-ago period at $36 mln, trailing forecasts by about
PQ said oil and natural gas liquids volume made up about 22% of
its Q1 production, up from 18% during the same quarter last year.
Largely due to an increase in NGL production. Looking at the
current quarter ending in June, the company is expecting natural
gas to account for about 77% of its overall production, with NGL
and oil comprising 15% and 8% of its quarter production,
Q2 production volumes are projected in a range of 92 mln to 97
mln cubic feet equivalent per day.
In other sector news,
(+) EOG, Q1 revenue of $3.36 bln beats by $240 mln. Per-share
earnings of $1.17 miss by a penny. Forecasts peer-group leading
high growth rates for crude oil production between 2013 to 2017.
Also sees "robust" growth for natural gas liquids during the same
period while North American natural gas production sgould show
moderate increase in 2014 and beyond.
(+) GDP, Reports $0.76 per share adjusted Q1 net loss, $0.27 per
share wider than the analyst consensus. Revenue climbs 4% over the
same quarter last year to $47.1 mln, also lagging estimates looking
for $54.16 mln in quarter revenue.
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