Energy Stocks Rising With Other Commodity-Related Issues; Weatherford Posting Gains After Matching Q1 EPS Forecasts

By
A A A

Top Energy Stocks

XOM +1.43%

CVX +1.15%, hit new year highs


COP +1.44%, near 52 week highs

SLB +2.28%

OXY +3.3%

Energy stocks are broadly higher with the NYSE Energy Sector Index rising 1.7% and the S&P Energy Index climbing over 1.9%. Crude oil for June delivery is up $1.76 to $95.75 per barrel. June natural gas is up a penny to $ per 1 mln BTU.

In company news, Weatherford International Ltd. ( WFT ) is up about 9.6% to $13.90 a share, climbing toward a year high $14.58 despite late yesterday trailing the analyst consensus for Q1 revenue by $63 mln, but meeting a reported adjusted EPS of $0.15 per share.

"These areas of focus - working capital, capital allocation, business focus, and efficiency - will be the building blocks that will allow us to deliver increasing free cash flow and higher earnings from 2013 onwards," Weatherford's Chief Administrative officer Dharmesh Mehta said according to a transcript of the company's earnings call and reported by Reuters.

In other sector news,

(+) CGG, (+5.7% at $2.98 but off a day high $3.04) Raised to Buy from Hold by analysts at Standpoint Research.

(-) HNR, (-1.5% at $3.33 but above a day low $3.25) Adjusted Q4 net income of $0.65 per share beats analyst forecasts by $0.41 per share, GAAP net loss was $0.59 per share, in from a $1,30 per share loss during the same quarter last year.



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

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



This article appears in: Investing , Commodities

Referenced Stocks: WFT

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

67%

Most Active by Volume

71,516,687
  • $15.31 ▼ 0.71%
70,751,657
  • $32 ▲ 6.38%
52,690,101
  • $15.98 ▼ 0.19%
42,003,007
  • $8.57 ▲ 4.51%
38,202,273
  • $123.25 ▼ 0.80%
33,193,564
  • $40.97 ▼ 0.58%
31,456,406
  • $105.52 ▲ 0.40%
30,445,885
  • $5.67 ▼ 4.55%
As of 3/27/2015, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com