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

Shutterstock photo

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.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Energy
Referenced Symbols: TELL , PDS , MRO , GLOG

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?