Top Energy Stocks
Energy stocks turned narrowly mixed shortly before Tuesday's closing bell, the NYSE Energy Sector Index dropping less than 0.1% while shares of energy companies in the S&P 500 were up almost 0.2% as a group. Crude oil for March delivery settled 27 cents higher at $53.30 per barrel while March natural gas futures extended their recent skid, falling another 4 cents to $2.91 per 1 million BTU.
In company news, Gulfport Energy ( GPOR ) was edging lower Tuesday afternoon, reversing a much deeper slide for shares of the oil and natural gas producer after reporting a nearly two-thirds drop in Q4 revenue compared with year-ago levels.
Excluding one-time items, the company earned $0.34 per share during the three months ended Dec. 31, topping the $0.20 per share consensus estimate of analysts polled by Capital IQ.
Q4 revenue declined slightly more than 66% from the same quarter last year, falling to $63.4 million from $190.3 million and missing the Street view expecting $201 million in quarterly revenue.
GPOR shares were down about 0.2% at $20.73 apiece, bouncing back from a 5.4% retreat to $19.56 a share earlier today, stopping just 2 cents short of their 52-week low.
In other sector news,
(+) STNG, Upgrade to Overweight from Equal-Weight at Morgan Stanley.
(-) GEVO, Falls to record low after pricing $11.9 mln public offering, selling Series G units consisting of one share of common stock and a five-year Series K warrant to buy another share at $2.35 and a nine-month Series M warrant to buy one share at $2.35. Also sells 570,000 pre-funded warrants at $1.89 each.
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