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Energy Sector Update for 07/31/2018: RRC,RIG


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Top Energy Stocks

XOM +0.1%

CVX flat

COP +0.1%

SLB -0.12%

OXY - 0.01%

Energy stocks were narrowly mixed to unchanged in early Tuesday trading. In commodities trading, West Texas Intermediate crude oil for September delivery was falling 30 cents to $69.83 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude September contract was advancing 2 cents to $74.99 per barrel. August natural gas futures were 2 cents lower at $2.71 per 1 million BTU. Among energy-related ETFs, United States Oil was slipping over 0.2% while United States Natural Gas was dropping almost 0.9%.

Among energy stocks likely to move on news:

+ Range Resources ( RRC ) rose almost 3% in extended trading Monday night after reporting Q2 financial results exceeding analyst estimates, including non-GAAP net income of $0.20 per share, up $0.14 over year-ago levels and topping the Capital IQ consensus by $0.08 per share. Revenue rose to $745 million from $565.3 million last year, beating the $671.5 million Street view.

In other sector news

+ Transocean ( RIG ) gained after posting a surprise Q2 profit of $0.04 per share compared with the analyst mean expecting an $0.18 per share net loss for the April-to-June reporting period. Revenue grew to $790 million from $751 million last year, also surpassing the Capital IQ consensus by around $21 million. Shares rose almost 2% in Monday's late session.

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: RRC , RIG



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