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Sector Update: Energy Shares Flat Pre-Market; Natural-Gas Futures Slip

Posted
3/13/2014 8:25:00 AM
By: MT Newswires
Referenced Stocks:USO;UNG;KIOR;MTDR

Top Energy Stocks

XOM: flat

CVX: flat

COP: flat

SLB: flat

OXY: flat

Energy shares were trading flat in recent pre-market trading Thursday, while crude-oil futures rose but natural-gas futures fell.

Light, sweet crude oil for April delivery was up 0.5% at $98.49 per barrel. In other energy futures, heating oil was up 0.2% at $2.93 per gallon while natural gas was down 1.6% at $4.42 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.1% at $35.32. The United States Natural Gas ETF ( UNG ) was down 1.8% at $24.52.

In other energy news, KiOR ( KIOR ), a development-stage renewable-fuels company, Thursday said it was canceling its earnings conference call previously scheduled for 10 a.m. ET and delaying the release of its results. The company said it will delay the Q4 release until its Annual Report on Form 10-K is filed on or before March 17, 2014. It gave no further details.

Matador Resources ( MTDR ) was down 0.5% pre-market even after the company late Wednesday it swung to a profit in Q4, with revenue increasing year over year, and provided production guidance for fiscal 2014. The independent energy company reported Q4 net income of $15.4 million or $0.23 per share, compared with the prior-year period's net loss of $21.2 million or $0.38 per share.