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Energy Sector Update for 10/30/2018: WRD,CHK,BP,RIG


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XOM +1.34%

CVX +0.55%

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SLB +0.35%

OXY +0.45%

Energy stocks were rising Tuesday afternoon, with the NYSE Energy Sector Index climbing nearly 0.9% while shares of energy companies in the S&P 500 were rising more than 1.1% as a group. West Texas Intermediate crude oil for December delivery was slipping 75 cents to $66.29 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude December contract was declining $1.40 to $75.94 per barrel. December natural gas futures were 2 cents lower at $3.18 per 1 million BTU, reversing a gain earlier. Among energy-related ETFs, United States Oil was falling more than 0.6% while United States Natural Gas was declining more than 0.4%. The Philadelphia Oil Service Sector index was down 0.4% in recent trading.

Among energy stocks moving on news:

(+) WildHorse Resource Development Corp ( WRD ) rose more than 5% at one point on Tuesday, only to give back about half of that advance, after the oil and natural gas producer agreed to be bought by Chesapeake Energy ( CHK ). Chesapeake shares fell about 13%.

In other sector news

(+) BP plc ( BP ) rose 2% on Tuesday after the energy major reported its largest adjusted profit in more than five years.

(+) Transocean LTD ( RIG ) rose more than 1% after the offshore contract driller late Monday reported a surprise Q3 profit. Excluding one-time items, the company earned $0.06 per share during the quarter, down from a $0.16 per share adjusted profit in the year-ago period but still beating the Capital IQ consensus expecting a $0.10 per share non-GAAP net loss.

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: WRD , CHK , BP , RIG



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