Top Energy Stocks
Energy stocks extended their losses this afternoon, also leading the U.S. markets lower today, with the NYSE Energy Sector Index Thursday falling over 1.0% while shares of energy companies in the S&P 500 were down 1.3% as a group. Crude oil for March delivery settled 25 cents higher, reversing small declines earlier Thursday, at $53.36 per barrel. February natural gas futures fell 7 cents today to finish at $2.85 per 1 million BTU.
In company news, Pembina Pipeline (PBA,PPL.TO) climbed to an 18-month high on Thursday after the Canadian pipeline operator today today it has signed a 20-year infrastructure development and service agreement with Chevron ( CVX ) Canada.
Under terms of the new agreement, Chevron will contract with Pembina to build, own and operate gas gathering pipelines and processing facilities in a 10-township, liquids-rich region in the Duvernay resource play near Fox Creek, Alberta. Pembina also will be responsible for liquids stabilization facilities and other supporting infrastructure.
PBA shares were up more than 4% this afternoon at $32.68, slipping slightly from their best price since July 2015 at $32.78 a share. CVX shares were down almost 2% at $110.55 each in late trade, or just 3 cents above their session low.
In other sector news,
(+) CIR, Adjusted Q4 EPS of $0.48 beats Capital IQ consensus by $0.07 per share. Revenue fell 3.7% from last year to $158.24 mln, exceeding the $148 mln consensus.
(-) HOS, Reports non-GAAP Q4 net loss of $0.53 per share, missing the Capital IQ consensus by $0.06 per share. Revenue falls 52.8% to $41.9 mln, also trailing the $46.69 mln consensus.
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