Quantcast

Energy Sector Update for 03/14/2019: SRLP,IMO,IMO.TO,TALO,LGCY


Shutterstock photo

Top Energy Stocks

XOM -0.26%

CVX +0.06%

COP +0.01%

SLB +0.17%

OXY +0.37%

Energy stocks were ending narrowly higher, with the NYSE Energy Sector Index climbing almost 0.2% while shares of energy companies in the S&P 500 were up just over 0.2% as a group. West Texas Intermediate crude oil for April delivery settled 35 cents higher at $58.61 per barrel in New York while the global benchmark Brent crude May contract declined 35 cents to $67.20 per barrel. April natural gas futures rose 4 cents to $2.86 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was ahead nearly 0.3% while the United States Natural Gas fund was just under 1.0% higher. The Philadelphia Oil Service Sector index also was up slightly more than 0.1%.

Among energy stocks moving on news:

(+) Sprague Resources ( SRLP ) rallied Thursday, climbing 12.5%, after the oil and natural gas master limited partnership reported Q4 net income of $1.51 per share, reversing a $0.63 per share net loss during the year-ago period, while revenue grew 15.9% year over year to $1.08 billion. Analyst estimates for the three months ended Dec. 31 were not available.

In other sector news:

(+) Talos Energy ( TALO ) raced 9% higher after reporting above-consensus Q4 financial results, earning $0.91 per share during the three months ended Dec. 31, excluding one-time items, on $258.7 million in revenue. Analysts, on average, had been expecting an $0.86 per share adjusted profit on $226.8 million in revenue.

(-) Imperial Oil ( IMO ) was fractionally lower after Credit Suisse raised its rating on shares of the Canadian oil and natural gas company to neutral from underperform and also set a new price target of $39 a share.

(-) Legacy Reserves ( LGCY ) dropped 56% after the oil and natural gas producer said it has begun exploring its strategic alternatives, including a potential asset sale or some other form of a business combination as well as a possible financing transaction.

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: SRLP , TALO , IMO , LGCY




More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities












Research Brokers before you trade

Want to trade FX?