Energy Sector Update for 10/09/2018: AM,AMGP,AR,RRC,BP,WMB

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Top Energy Stocks

XOM +0.15%

CVX +1.19%

COP +1.53%

SLB +0.08%

OXY +0.46%

Energy stocks were mostly higher Tuesday with the NYSE Energy Sector Index rising over 1.1% while shares of energy companies in the S&P 500 were up slightly more than 0.9% as a group. West Texas Intermediate crude oil for November delivery was ahead $0.40 to $74.69 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude December contract was advancing $0.73 to $84.64 per barrel. November natural gas futures were unchanged at $3.27 per 1 million BTU. Among energy-related ETFs, United States Oil was climbing over 0.7% while United States Natural Gas was dropping more than 0.5%. The Philadelphia Oil Service Sector index was up more than 1.3% today.

Among energy stocks moving on news:

(+) Antero Midstream Partners ( AM ) jumped almost 13% higher on Tuesday after the natural gas pipeline partnership agreed to a buyout offer from Antero Midstream GP LP ( AMGP ).

In other sector news

(+) Range Resources ( RRC ) was almost 3% higher on Tuesday after Goldman Sachs raised its price target for the oil and natural gas producer's stock by 50 cents to $17.50 a share. The firm maintained its neutral rating.

(+) BP ( BP ) was fractionally higher on Tuesday, rising under 1% and reversing a mid-morning decline, after the UK-based energy major said it and a Serica Energy subsidiary received a conditional license and assurance from the US Office of Foreign Assets Control to work in the UK North Sea Rhum oilfield partly owned by the Iranian Oil Co.

(-) Williams Companies ( WMB ) still was moderately lower this afternoon after the oil and natural gas pipeline company said it has received binding, 15-year commitments from Seneca Resources Company and Cabot Oil & Gas for 100% of the 580 million dekatherms of transportation capacity under the proposed Leidy South expansion project for its Transco interstate pipeline .

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: AM , RRC , BP , WMB

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