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

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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.

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This article appears in: Investing , Energy
Referenced Symbols: SRLP , TALO , IMO , LGCY

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