Top Energy Stocks
Energy stocks are adding to their earlier gains with the NYSE
Energy Sector Index rising 0.8% while shares of energy companies in
the S&P 500 are up 1.0% as a group. Crude oil for December
delivery settled 34 cents higher at $94.58 per barrel while
December natural gas added 4 cents to finish at $3.56 per 1 million
In company news, Alon USA (
) is down nearly 8% at $10.16 a share heading into tonight's close
after reporting a Q3 net loss of $0.47 per share, ex items,
trailing Wall Street expectations for the period by $0.19.
The refiner blamed a portion of the large loss on the relative
price parity for West Texas Intermediate crude at the Cushing and
Argus hubs during Q3, a disadvantage to the company because of its
proximity to the Permian basin that has started to again widen as
transportation costs normalize, now reaching $4.35 per barrel to
In other sector news,
(+) CLNE, Posts $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.
(-) AREX, 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 (
) Securities LLC, as its new chief financial officer.
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