Markets

Energy Sector Update for 02/13/2017: USAC,STNG,SDLP

Top Energy Stocks

XOM +0.36%

CVX +0.39%

COP -1.10%

SLB -0.05%

OXY -1.80%

Energy stocks were trending lower on Monday, with the NYSE Energy Sector Index declining 0.4% while shares of energy companies in the S&P 500 were down slightly more than 0.2% as a group. Crude oil for March delivery was down 92 cents at $52.94 per barrel while February natural gas futures were 7 cents lower at $2.97 per 1 million BTU.

In company news, USA Compression Partners LP ( USAC ) rose fractionally Monday after the oilfield-services company today reported Q4 per-share earnings narrowly missing analyst projections while topping Wall Street expectations with its revenue during the October-to-December period.

The company earned $0.05 per share during the three months ended Dec. 31, trailing the Capital IQ consensus by a penny. Revenue rose 9.2% over the same quarter last year to $74.9 million, exceeding the $62.35 million consensus.

USA Compression also is expecting FY17 net income in a range of $15.8 million to $30.7 million, which translates into $0.28 to $0.54 per share, based on the company's 56.7 million diluted shares outstanding. Analysts, on average, are modeling a $0.35 per share profit for the company this year.

USAC shares were up almost 1% today at $18.54 each, previously topping out today at $19.18 a share.

In other sector news,

(+) STNG, (+11.6%) Non-GAAP net loss of $0.18 per share matches Capital IQ consensus. Revenue drops 40.4% compared with same quarter last year to $106.1 mln, missing the $108.03 mln Street view.

(-) SDLP, (-3.7%) Statoil ( STO ) Canada awards a firm, $14 mln two-well contract plus a two-well option for the West Aquarius drillrig offshore eastern Canada.

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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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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