Sector Update: Energy Stocks Mixed This Afternoon; Arch Coal Heats Up After Posting Smaller-Than-Expected Q2 Net Loss

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Energy stocks were mixed Tuesday, with the NYSE Energy Sector Index slumping about 1.0% while shares of energy companies in the S&P 500 were up about 0.2% as a group. Crude oil for September delivery was down $1.07 at $100.60 per barrel while August natural gas was down 2 cents to $3.75 per 1 million BTU.

In company news, shares of Arch Coal ( ACI ) were advancing Tuesday after the miner reported a smaller Q2 net loss than analyst were expecting although revenue for the three months ended June 30 failed to meet expectations.

Net loss for the quarter was $96.9 million, or $0.46 per share, expanding on a $72.2 million loss during the year-ago period. Excluding one-time items, the adjusted net loss remained at $0.46 per share, topping the Capital IQ consensus by $0.02 per share.

Revenue fell 6.9% year over year to $713.8 million, trailing the Street view by around $4.7 million.

ACI shares were ahead about 5.4% at $3.02 apiece in afternoon trading, just 3 cents off their session high. The stock has a 52-week range of $2.82 to $5.37 a share, sliding 25.5% over the past 12 months.

In other sector news,

(+) RRC, (+2.3%) Q2 revenue grows 9.1% year over year to $477.52 mln, topping analyst estimates by $3.4 mln. Reaches record production of 1.105 mln cubic feet of natural gas per day, a 21% increase over year-ago levels. EPS of $0.36 lags Street view by $0.05.

(-) BP, (-2.8%) Warns additional Western sanctions on Russia could harm its business there along with its relationship with Rosneft, the Russian state oil company



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: ACI

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