Sector Update: Energy

By Staff,

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Energy stocks are mostly lower this afternoon with the NYSE Energy Sector Index falling 0.60% while the S&P Energy Index is off 1.09%. Crude oil for July delivery is off 2% at $86.09 a barrel following an unexpected build in U.S. inventories last week.

Among the companies posting the largest percentage declines, Hombeck Offshore Services Inc ( HOS ) is down nearly 5% followed by Transportadora de Gas Del Sur S.A. ( TGS ) sliding 5.27%. Other stocks with significant declines include Tesoro Corp ( TSO ) down 5.3%, Noble Corp. ( NE ) falling 4.3%, and Hyperdynamics Corp ( HDY ) slipping 3.2%.

Among the handful of winners today are WSP Holdings Ltd. (WH) climbing 2.27%, Eni SpA (E) adding 2% and Sasol Ltd. (SSL) gaining 1.05%.

In company news, Midstates Petroleum (MPO) is down more than 5% after reporting a Q1 EPS loss of $0.16, versus a loss of $0.15 reported in Q1 2011.

Revenue for the quarter came in at $30.24 million, up from $13.16 million in the year-ago quarter. Net revenue in the most recent quarter were reduced by a $24.6 million loss on commodity deriviative contracts, offsetting big gains in oil and natural gas liquids sales.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: HDY , HOS , NE , TGS , TSO

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