Top Energy Stocks
Energy stocks were higher, with the NYSE Energy Sector Index
rising 0.5% while shares of energy companies in the S&P 500
were up 0.8% as a group. Crude oil for May delivery was down 6
cents at $101.69 per barrel while May natural gas was up 2 cents to
$4.76 per 1 million BTU.
In company news, shares of Hercules Offshore (
) are lower Wednesday after the oilfield-services company reported
Q1 earnings and revenue trailing Wall Street expectations.
Net income from continuing operations fell by more than 50% from
year-ago levels to $19.9 million, or $0.12 per share, missing the
Capital IQ consensus by $0.01 per share.
Revenue jumped 38% year over year to $256.7 million but still
lagged estimates by around $6.37 million.
HERO shares were down about 3.6% at $4.29 each in recent trade,
just 3 cents off their intra-day low. The stock has a 52-week range
of $4.21 to $7.96 a share, declining almost 37% over the past 12
In other sector news,
(+) RES, (+3.5%) Q1 earnings of $0.18 per share lag Street view
by $0.03. Revenue rises 17.8% year over year to $501.7 mln,
trailing Capital IQ consensus by $7.2 mln.
(+) NBR, (+1.8%) Q1 EPS from continuing operations of $0.16
beats by $0.02 per share. Revenue falls 3.7% year over year to
$1.56 bln, matching Street view.
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