Energy Stocks Tumble With Crude Prices; Houston American Energy Surges 29% From Near Yr Lows

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Top Energy Stocks

XOM -1.2%

CVX -1.2% from near year highs

COP -0.7% from near 52 week highs

SLB -1.6%

OXY +0.6%

Energy stocks are mostly lower with the NYSE Energy Sector Index (^NYE) falling over 0.8% and the S&P Energy Index (^IXE) sinking just over 1.0%. Crude oil for June delivery (CLM13.NYM) is down $2.55 to $93.84 per barrel while June natural gas (NGM13.NYM) is down 2 cents to $3.96 per 1 mln BTU.

In company news, Houston American Energy ( HUSA ) is up 29% at 25 cents a share, taking it away from near a year low 18 cents after saying Pennington Oil & Gas LLC - its partner in the Crown Paper No. 1 well in the Profit Island Field - has carried out a successful re-start and initial testing of the well near Baton Rouge, La.

HUSA currently owns a 5.675% royalty interest in the well, which will decline to a 2.838% royalty stake after the company pockets $225,000 in royalties. HUSA also holds working and royalty interests in adjacent acreage to the Profit Island Field.

In other sector news,

(+) FST, (+4%) Stifel Nicolaus raises its rating for the stock to Buy from Hold. Upgrade follows FST yesterday reporting a wider Q1 net loss compared to a year ago, posting a $0.59 per share loss compared to a $0.29 loss during the same quarter last year. Revenue slipped 25% year over year to $118 mln.

(-) BCEI, (-3.1%) Reports Q1 earnings of $0.40 per share, ex items, trailing estimates by $0.02 per share. Revenue climbs 63.8% year over year to $78.3 mln but still lagged expectations by $1.73 mln. Average per-barrel price of oil falls 8.8% from year-ago levels while the price received for natural gas liquids declined 16.7%.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: HUSA

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