Top Energy Stocks:
Energy stocks were advancing pre-market Friday. West Texas Intermediate crude oil for February delivery was up $0.59 to $52.66 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude March contract gained $0.63 to $61.81 per barrel and February natural gas futures were down 19 cents at $3.22 per 1 million BTU.
Stocks moving on news include:
(+) Ultra Petroleum ( UPL ), which was surging by more than 48% as the US Court of Appeals for the Fifth Circuit issued a favorable opinion on its appeal over so-called make-whole claims relating to its Chapter 11 bankruptcy in 2016, reversing an earlier court decision that required it to pay $400 million to certain creditors.
(+) Gulfport Energy ( GPOR ) was over 8% higher after the company said its board approved up to $400 million for share buybacks and said it expects 2019 total capital expenditures of $565 million to $600 million to be funded entirely within cash flow.
(+) Schlumberger ( SLB ) was up more than 4% as i t report ed Q4 earnings of $538 million, or $0.39 per share. That compares with a loss of $2.26 billion, or $1.63 in the year-earlier period. On a non-GAAP basis, the company earned $0.36 per share, missing analysts' estimates provided by Capital IQ for EPS of $0.37.
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