Top Energy Stocks
XOM +1.9%, near year highs
CVX +2.0%, near year highs
Energy stocks are higher this afternoon with the NYSE Energy
Sector Index climbing nearly 3.0% on positive sentiment after the
Labor Department reported a surprise net increase in new job hires
during July. The S&P Energy Index is up about 2.8% with crude
oil for September delivery up nearly 4%, climbing $3.89 to $91.01 a
barrel in NYMEX trade.
In company news, Union Drilling Inc (
) is ahead nearly 22% today following an upgrade of the oilfield
services firm by BMO Capital.
The improved view follows UDRL late Wednesday reporting stellar
Q2 financial results, reversing a year-ago $0.15 a share net loss
with a $0.03 a share profit and crushing the analyst consensus by
$0.09. Revenues also beat as the company rig utilization rate
climbed from 54.4% during the same three months last year to a
78.1% pace during the period ending June 30.
In other sector news,
(+) KOG, (+7.6%) Reports 288% rise in Q2 sales over 2011 levels
to $85.2 million. Adjusted earnings were $0.10 a share, matching
(+) EOG, (+10.48%) Beats by $0.18 a share. Also beats on
(-) SWN, (-4.2%) EPS in-line, raises FY12 output forecast to 33
million barrels of oil equivalent from 32.3 million barrels. Total
output rises 12% in Q2.
(+) LNG, (+0.3%) Repays convertible senior unsecured notes.
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