Energy Sector Update for 03/21/2019: PXS,EQT,CEO,MUR

Shutterstock photo

Top Energy Stocks

XOM +0.61%

CVX +0.91%

COP +0.89%

SLB -0.05%

OXY -0.06%

Energy stocks turned moderately higher this afternoon, with the NYSE Energy Sector Index rising over 0.2% while shares of energy companies in the S&P 500 were up almost 0.7% as a group. West Texas Intermediate crude oil for May delivery settled 25 cents lower at $59.98 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude May contract declined 76 cents to $67.74 per barrel. April natural gas futures were unchanged at $2.82 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was ahead nearly 0.6% while the United States Natural Gas fund also was dropping almost 0.6%. The Philadelphia Oil Service Sector index was up just under 0.5%.

Among energy stocks moving on news:

(-) Pyxis Tankers ( PXS ) dropped 18.5% after the tanker company reported a Q4 net loss of $0.16 per share for the three months ended Dec. 31, trailing the Capital IQ consensus expecting a $0.07 per share net loss.

In other sector news:

(+) CNOOC ( CEO ) rose fractionally after the Chinese energy major reported a 113.5% increase in its FY18 net profit to RMB52.7 billion, or about $7.88 billion, as oil and gas sales grew 22.4% year-over-year to RMB185.9 billion.

(+) Murphy Oil ( MUR ) was edging higher after announcing a deal to sell its Malaysian subsidiaries to a unit of Thailand's PTT Exploration and Production for $2.13 billion in cash.

(-) EQT Corp ( EQT ) declined nearly 3% after the oil and natural gas producer Thursday told shareholders they don't have to take any action at this time in response to activist investor Toby Rice nominating a director slate to stand for election at EQT's upcoming annual meeting in July, saying the corporate governance committee of the EQT board was reviewing those candidates and will be making a recommendation at a later date.

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: PXS , CEO , MUR , EQT

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?