Energy Stocks, Crude Oil Falling in Afternoon Trade; Dawson Geo Tumbles After Q4 Warning


Top Energy Stocks

XOM -0.2%

CVX -0.3%

COP -0.6%, after earlier hitting fresh 52 week highs

SLB -1% from near 52 week highs

OXY -0.5%

Energy stocks are lower with the NYSE Energy Sector Index sinking about 0.7% while shares of energy companies in the S&P 500 are down 0.8% as a group. Crude oil for October delivery is down 80 cents at $105.59 per barrel while October natural gas is down 3 cents to $3.69 per 1 million BTU.

In company news, Dawson Geophysical ( DWSN ) is down over 12% at near $32.80 a share, sliding as low as $32.30 today after the oilfield services company said it is experiencing a significant reduction in its data acquisition crew utilization rates during Q4 that will negatively impact its quarterly financial results.

In other sector news,

(+) MILL, (+0.75%) U.S. Court of Appeals upholds dismissal of two consolidated shareholder lawsuits accusing the company and its executives of disseminating misleading information, mismanagement and wasting corporate assets.

(-) WHX, (-7%) Galbraith Global Investment Management "strongly" urges Whiting Petroleum - a 15.8% owner of WHX equity units - to dump its stake in the oil- and gas-focused REIT, arguing the stock is grossly overvalued at its current levels.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: DWSN

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