Sector Update: Energy

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Energy stocks are higher with the NYSE Energy Sector Index gaining 0.60 at mid-day. Crude oil also is higher today, with the March contract up $1.41 at $100.08 a barrel in NYMEX trade.

In company news, Chesapeake Energy Corp. ( CHK ) was gaining 2% today after saying it is targeting as much as $12 billion in asset sales and joint ventures this year as it seeks to generate enough cash to meet its drilling expenses.

Also today, Earthstone Energy ( ESTE ) has topped $20 a share after reporting improved year-over-year Q3 results. Q3 EPS was $0.68 versus $0.04 in the same period last year. Revenues for the quarter nearly doubled to $3.9 million, up from $2 million in the year-ago period. No analyst estimates were available for comparison.



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: CHK , ESTE

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