Energy Stocks On the Rise Today; Clean Energy Fuels Adds 4% Following Q3 EPS Beat

By Staff,

Shutterstock photo

Top Energy Stocks

XOM +0.5%

CVX +0.3%

COP +0.7%

SLB +1.6%

OXY +0.40%

Energy stocks are higher with the NYSE Energy Sector Index rising 0.3% while shares of energy companies in the S&P 500 are up 1.2% as a group. Crude oil for December delivery is up 14 cents at $94.34 per barrel while December natural gas is up 5 cents at $3.57 per 1 million BTU.

In company news, Clean Energy Fuels ( CLNE ) is up near 5% at near $11.90 a share with the natural-gas supplier reporting a narrower net loss in Q3 than analysts were expecting. The company, controlled by energy magnate T. Boone Pickens, posted a $0.16 per share net loss during the quarter, ex items, $0.05 better than the Capital IQ consensus call. Revenue slipped 5.7% from the same quarter last year to $86.3 million, trailing analyst estimates by $2.43 million.

CLNE delivered 56.4 million gallons in Q3, up 10.8% over year-ago levels. Year to date, deliveries are 11% above the first nine months of 2012.

In other sector news,

(-) FXEN, (-6%) Reports adjusted Q3 net loss of $0.05 per share, $0.03 wider than estimates. Including the $11.5-mln gain on foreign currency exchange, it would have earned $0.12 per share. Total revenue declines 14.6% to $8.2 mln but beats by $80,000.

(-) AREX, (-11%, nearer 52 week lows) Q3 earnings of $0.07 per share beat by $0.01. The oil and gas company also hires Sergei Krylov, currently a managing director at J.P. Morgan ( JPM ) Securities LLC, as its new chief financial officer.

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

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

This article appears in: Investing Commodities
Referenced Stocks: CLNE , JPM

More from MT Newswires


MT Newswires

MT Newswires

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by