Energy Sector Update for 11/15/2018: TK,TDW,GLF,EQNR

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Top Energy Stocks

XOM 0.48%

CVX +1.28%

COP +1.34%

SLB +0.40%

OXY +2.16%

Energy stocks were mostly higher, with the NYSE Energy Sector Index rising 0.5% while shares of energy companies in the S&P 500 were up 1.2% as a group. West Texas Intermediate crude oil for December delivery was rising 34 cents to $56.59 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude January contract was declining 63 cents to $66.75 per barrel. December natural gas futures were plunging 68 cents, or more than 14% lower, to $4.16 per 1 million BTU. Among energy-related ETFs, United States Oil was climbing over 0.8% while United States Natural Gas was dropping more than 16.3%. The Philadelphia Oil Service Sector index was up more than 1.7%.

Among energy stocks moving on news:

(-) Teekay Corp ( TK ) dropped 4.7% this afternoon, giving back a small gain soon after Thursday's open, after the petroleum floating storage and offloading company reported a surprise Q3 net loss.

In other sector news

(+) Tidewater Inc. ( TDW ) climbed 5%. The company said Thursday that it completed its combination with GulfMark Offshore ( GLF ). More than 99% of the shareholders voted in favor of the deal, Tidewater said.

(+) Equinor ( EQNR ) was 1.5% higher on Thursday after the Norwegian energy major acquired a 9.7% equity stake in Scatec Solar after buying 11.02 million Scatec shares for NOK700 million, or about $82.3 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: TK , TDW , EQNR

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