Energy Stocks Mostly Higher Today; Natural Gas Futures Tumble After Inventories Grow More Than Expected

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Top Energy Stocks

XOM +1.31%

CVX +1.32%

COP +1.40%

SLB +0.66%

OXY -0.42%

Energy stocks were higher today with the NYSE Energy Sector Index rising about 0.6% and the S&P Energy Index gaining about 1.2%. Crude oil for June delivery was up 52 cents to $91.55 per barrel. June natural gas was down 25 cents, or 5.7%, to $4.08 per 1 mln BTU after the government's weekly inventory report showed U.S. stockpiles expanded much more than expected.

In company news, C&J Energy Services, Inc. ( CJES ) was down 5.7% to $18.18 a share, falling as low as $17.72 for the steepest decline among stocks in the NYSE Energy Sector Index and the oilfield services company late Wednesday reporting a year over year decline in earnings to $0.46 per share, down from a $0.92 gain last year and trailing analyst expectations by $0.09 per share.

Revenue also came up short of the Street view despite a 15.5% rise from the same quarter last year to $276.1 mln, lagging the analyst consensus by $12.21 mln, or about 4.2%.

In other sector news,

(+) HOS, (+11.8%) Reported Q1 earnings of $0.59 per share, ex items, topping expectations by $0.28. Revenue increases 22.9% year over year to $147.5 mln, also exceeding the Street view by $10.12 mln.

(-) CXO, (-4.2%) Q1 EPS of $0.58, ex special items, missed the Capital IQ consensus estimate by $0.21 per share. Revenue slips 7% from year-ago levels to $472.13 mln, also falling $28.75 mln short of estimates.



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This article appears in: Investing , Commodities

Referenced Stocks: CJES

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