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Energy Sector Update for 10/29/2018: NOV, OIS


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Top Energy Stocks:

XOM: +1.1%

CVX: +1/1%

COP: Flat

SLB: +1.6%

OXY: Flat

Energy stocks were mostly in positive territory in the pre-market session Monday.

Light, sweet crude oil for December delivery was down 0.2% at $67.45 per barrel, while natural gas for November delivery was down 2.2% at $3.12 per million Btu.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.5% while the United States Natural Gas ETF ( UNG ) was down 2.3%.

Early movers include:

(+) National Oilwell Varco ( NOV ) rose more than 1% after Evercore ISI upgraded shares to outperform from an in line rating. The average rating among analysts is a hold, with an average price target of $44.

In other sector news,

Oil States ( OIS ) reported a Q3 net loss and revenue that narrowly missed expectations compiled by Capital IQ. Q3 net loss was $0.07, narrowing from a loss of $0.30 in the year-ago quarter. Analysts were expecting a GAAP loss of $0.06 per share. Revenue increased to $274.6 million from $164.0 million a year ago but was just shy of the analyst consensus of $275 million.

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: USO , UNG , NOV , OIS



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