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Energy Sector Update for 08/15/2019: CEI,NS,PNRG


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Top Energy Stocks

XOM -0.66%

CVX -1.05%

COP -1.68%

SLB -2.44%

OXY +0.53%

Energy stocks were sharply lower again this afternoon, with the NYSE Energy Sector Index falling almost 0.9% while shares of energy companies in the S&P 500 also were down 0.9% as a group. West Texas Intermediate crude oil for September delivery was slipping 83 cents to $54.30 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude October contract was declining $1.35 to $58.13 per barrel. September natural gas futures were 10 cents higher at $2.24 per 1 million BTU.

Among energy stocks moving on news:

(-) Camber Energy ( CEI ) tumbled almost 15% after saying its Lineal Industries subsidiary has begun work on a $2.3 million pipeline system connecting well pads in southwestern Pennsylvania for a master limited partnership owned by a top-tier US oil and gas company. It expects to complete the project within the next 90 days.

In other sector news:

(-) Nustar Energy ( NS ) slipped 1.1% after announcing its first delivery of Permian crude oil to North Beach Terminal in Corpus Christi, Texas, which is scheduled to be loaded for export this weekend.

(-) PrimeEnergy ( PNRG ) declined 6.6% after reporting Q2 net income of $2.85 per share, reversing a $0.27 per share loss during the year-ago period while revenue rose 40.6% year over year for the oil and natural gas company to $31.5 million. Analyst estimates were not available.

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: CEI , NS , PNRG



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