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.
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