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Energy Sector Update for 07/12/2019: SMHI,UPL,MUR


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Top Energy Stocks

XOM +0.04%

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OXY +2.38%

Energy stocks were mostly higher this afternoon, with the NYSE Energy Sector Index climbing 0.1% while shares of energy companies in the S&P 500 were up 0.3% as a group. West Texas Intermediate crude oil for August delivery was rising 28 cents to $60.48 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude September contract was advancing 36 cents to $66.88 per barrel. August natural gas futures were 5 cents higher at $2.47 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was falling nearly 0.2% while the United States Natural Gas fund was posting a more than 2.6% gain. The Philadelphia Oil Service Sector index was down less than 0.1%.

Among energy stocks moving on news:

(+) SEACOR Marine Holdings ( SMHI ) rose over 4% on Friday after the transportation company serving the offshore oil and natural gas and wind farm industries said Robert Clemons was retiring as executive vice president and chief operating officer, effective immediately. SEACOR said it has no plans at this time to replace Clemons, who will be consulting for the company to assist with the transition of his duties.

In other sector news:

(+) Ultra Petroleum ( UPL ) surged over 8% on Friday after the company said it was terminating an exchange offer proposing to swap its outstanding 7.125% senior notes due 2025 of its Ultra Resources unit for either the company's new 9% cash or its 2.5% payment-in-kind senior secured third lien notes due 2024.

(+) Murphy Oil ( MUR ) was edging higher in recent trading. Morgan Stanley Friday raised its price target by $2 to $24 a share and also reiterated an underweight rating on the company's stock.

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: SMHI , MUR



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