Energy Sector Update for 01/11/2019: CKH,FTK,EQNR,CVX

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Top Energy Stocks

XOM -0.36%

CVX -0.81%

COP -2.40%

SLB -0.56%

OXY -0.27%

Energy stocks were falling Friday, with the NYSE Energy Sector Index sliding 0.6%, while shares of energy companies in the S&P 500 were down 0.4% as a group. West Texas Intermediate crude oil for February delivery was slipping 85 cents to $51.74 per barrel at the New York Mercantile Exchange, while the global benchmark Brent crude March contract was declining $1 to $60.68 per barrel. February natural gas futures were 11 cents higher at $3.08 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was dropping more than 1.6% while the United States Natural Gas fund was climbing 3.2%. The Philadelphia Oil Service Sector index was down 1.6% in recent trade.

Among energy stocks moving on news:

(-) Seacor Holdings ( CKH ) was fractionally lower in recent trading after the energy services company late Thursday said it has puchased, through a subsidiary, substantially all of GreenFix America LLC, expanding its liquefied and compressed natural gas distribution operations. Financial terms were not disclosed.

In other sector news:

(+) Flotek Industries ( FTK ) raced as much as 106% higher on Friday after the energy and industrial chemicals company agreed to sell its Florida Chemical Company unit to Archer Daniels Midland ( ADM ), receiving $175 million in cash for the citrus flavor business.

(-) Equinor ( EQNR ) was down 1% after the Norwegian energy major completed its acquisition of Chevron's ( CVX ) 40% operated interest in the Rosebank project on the UK Continental Shelf. Financial details of the transaction were not disclosed.

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

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This article appears in: Investing , Energy
Referenced Symbols: CKH , FTK , ADM , EQNR , CVX

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