Energy Sector Update for 01/17/2019: OPTT,TAT,SMHI

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Top Energy Stocks

XOM +0.11%

CVX -0.36%

COP +1.05%

SLB -0.27%

OXY +0.57%

Energy stocks were narrowly mixed, with the NYSE Energy Sector Index falling less than 0.1%, while shares of energy companies in the S&P 500 were up almost 0.1% as a group. West Texas Intermediate crude oil for February delivery was slipping 44 cents to $51.87 per barrel at the New York Mercantile Exchange, while the global benchmark Brent crude March contract was declining 29 cents to $61.03 per barrel. February natural gas futures were 11 cents higher at $3.50 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was falling nearly 1%, while the United States Natural Gas fund was ahead nearly 1.5%. The Philadelphia Oil Service Sector index was up nearly 0.4%.

Among energy stocks moving on news:

(+) Ocean Power Technologies ( OPTT ) climbed 2% on Thursday after the alternative energy company said it received $900,000 of non-dilutive funding through New Jersey's technology business tax certificate transfer program, which allows smaller technology and biotechnology companies in the state to sell up to $15 million of their net operating losses and research and development tax credits to other companies for growth and operations funding.

In other sector news:

(+) Transatlantic Petroleum Ltd ( TAT ) was nearly 1% higher in recent trading. The oil and natural gas producer late Wednesday named Michael Hill as its new chief accounting officer, effective Jan. 28. He joins Transatlantic from AVAD Energy Partners, where he was responsible for internal and external financial reporting since December 2017.

(+) SEACOR Marine Holdings ( SMHI ) was up 2% after late Wednesday saying it has signed definitive agreements to acquire three platform supply vessels from COSCO Shipping Heavy Industry Co Ltd for a combined $46.0 million.

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: OPTT , TAT , SMHI

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