Top Energy Stocks
Energy stocks have reversed their earlier declines with the NYSE
Energy Sector Index now up slightly more than 0.1%. The S&P
Energy Index is little changed in mid-day trade. Crude oil for
December delivery is down $1.32 at $85.35 a barrel. November
natural gas is down 8 cents at $3.46 per 1 million BTU.
In company news, Newfield Exploration Co (
) is down by over 15% now after the oil and gas company reported
adjusted earnings, excluding items, for the quarter of $65 million
or $0.48 per share. On average, 25 analysts polled by Thomson
Reuters expected earnings of $0.52 per share for the quarter.
Analysts' estimates typically exclude special items.
In other sector news,
(+) NBR, (+0.5%) Q3 earnings rise 1.9%, led by international
business. Adjusted EPS was $0.42, beating estimates by $0.06.
Revenue rises 9.8% to $1.77 billion, also topping expectations by
(+) MRO, (+2%) In talks to sell its 20% stake in the Athabasca
oil sands project in Canada as part of its strategy to shed less
(+) PX, (+0.3%) Posts Q3 EPS of $1.39, in-line with estimates.
Revenue trails Street estimates by $50 million, coming in at $2.77
billion. Guides Q4 EPS at least $0.04 a share below
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