Sector Update: Energy

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Energy stocks were ending with slight gains today with the NYSE Energy Sector Index rising about 0.2% while shares of energy companies in the S&P 500 were up about 0.3% as a group. Crude oil for March delivery added 94 cents to settle at $103.46 per barrel while March natural gas surged another 61 cents today to a four-year high at $6.15 per 1 million BTU.

In company news, Oceaneering International ( OII ) was lower in late afternoon trading despite the oilfield-services company late yesterday posting Q4 financial results that beat analysts' expectations.

OII reported Q4 earnings of $0.86 per share, up from $0.74 in the year-ago period and topping the Capital IQ consensus by $0.02 per share. Revenue rose 14.6% year over year to $894.8 million, beating the Street view by around $64.3 million.


Looking forward, OII is projecting earnings in a range of $0.75 to $0.80 per share and reaffirming its previous guidance calling for FY15 EPS of $3.90 to $4.10. Analysts, on average, are expecting the company to earn $0.82 per share in Q1 and $4.05 during the 12 months ending in December.

In other sector news,

(+) NBR, Q4 adjusted EPS of $0.21 per share, down from $0.28 in the year-ago period but beating analyst expectations by $0.01 per share. Revenue declined 1.3% to $1.61 bln, beating Thomson Reuters consensus by $65.7 mln.

(-) SM, Adjusted Q4 earnings of $1.26 per share trails analyst projections by $0.20. Revenue climbs 43% to $636.7 mln, beating Capital IQ consensus by $24.3 mln. Also today, KeyBlanc downgrades the stock to Hold from Buy following the earnings miss last night. The research shop also removed its price target for the stock.



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: OII

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