Referenced Stocks

Sector Update: Energy Shares Lower as Crude Ends Below $112 a Barrel

By Midnight Trader May 03, 2011, 03:36:08 PM EDT

NYMEX Benchmark Crude June: (-2.2%) to $111.05

Top Energy Stocks

XOM: -1.9%

CVX: -2.4%

COP: -4.6%

SLB: -2.9%

OXY: -4.4%

Energy shares are down in late trading as crude oil futures fell to close below $112 a barrel at the New York Mercantile Exchange.

Light, sweet crude oil for June delivery finished down 2.2% to $111.05 a barrel. In other energy futures, heating oil was down 0.73% to $3.25 a gallon while natural gas was down 0.04% to at $4.69 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is down 1.96% to $44.07. The United States Natural Gas ETF ( UNG ) is down 0.5% to $12.05.

In late-session energy news, Anadarko Petroleum ( APC ) shares are down as MarketWatch reported that the petroleum company said it sold a 10% share in Block SL-07B-10 offshore Liberia and Sierra Leone to Japan's Mitsubishi.

Anadarko remains as the operator. It had a 65% interest in the block, the report said.

Anadarko shares are down 2.94%, or $2.36, to $77.99.

Meanwhile, Marathon Oil ( MRO ) shares stayed firmly lower into the late session after it reported its first quarter results, posting net income of $1.18 billion, adjusted for special items, or $1.65 per diluted share, compared with $315 million, or $0.44 per diluted share, for the prior-year period. This is $0.21 better than the Thomson Reuters consensus of $1.44.

The company expects second quarter Exploration & Production available for sale will be between 340,000 and 360,000 boepd, excluding the effect of any future acquisitions or dispositions. Anticipated full-year Exploration & Production available for sale is between 345,000 and 365,000 boepd. All estimates exclude Libya.

Marathon shares are down 2.6% to $52.10.




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.


This article appears in: Investing, Commodities

Referenced Stocks: APC, MRO, UNG, USO



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