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Energy Sector Update for 02/14/2019: TELL,MRO,PDS,PD.TO,GLOG


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Top Energy Stocks

XOM +0.18%

CVX +0.38%

COP +2.49%

SLB -0.05%

OXY +2.02%

Energy stock were mostly higher in late-afternoon trading, with the NYSE Energy Index rising almost 0.5% while shares of energy stocks in the S&P 500 index were up nearly 0.8% as a group. The WTI March contract settled 51 cents higher at $54.41 per barrel in New York while the global benchmark April Brett contract was up $1.00 to $64.61 per barrel. March natural gas futures were unchanged at $2.57 per 1 million BTU.

Among energy stocks moving on news:

(+) Tellurian ( TELL ) rose over 4% on Thursday after the natural gas producer signed a memorandum of understanding with India's largest importer of liquefied natural gas, Petronet LNG Ltd, exploring a potential investment in Tellurian's Driftwood LNG terminal project on the Gulf Coast in Louisiana.

In other sector news:

(+) Precision Drilling ( PDS ) soared Thursday, rising 15% after the oilfield-services company reported adjusted Q4 net income of CAD0.00 per share, topping the Capital IQ consensus expecting a CAD0.06 per share net loss.

(+) Marathon Oil ( MRO ) climbed 9% after the energy major late Wednesday reported non-GAAP Q4 net income of $0.15 per share, more than doubling its $0.07 per share profit during the year-ago period and beating the Capital IQ consensus by $0.01 per share.

(-) GasLog LP ( GLOG ) declined 1%. The liquefied natural gas carrier company Thursday reported non-GAAP Q4 net income of $0.54 per share, reversing a $0.02 per share net loss during the year-ago quarter and easily beating the Capital IQ consensus expecting $0.32 per share. Revenue rose to $188.6 million from $135.8 million during the same period in 2017, also topping the $176.2 million analyst mean.

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: TELL , PDS , MRO , GLOG




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