Markets

Energy Sector Update for 02/27/2019: CPQ,MTDR,CHK,WLL

Top Energy Stocks

XOM +1.23%

CVX +0.39%

COP +0.75%

SLB +0.11%

OXY +1.08%

Energy stocks gave back a portion of their earlier gain this afternoon, with the NYSE Energy Sector Index climbing over 0.6% while shares of energy companies in the S&P 500 were up more than 0.7% as a group. West Texas Intermediate crude oil for April delivery settled $1.44 higher at $56.94 per barrel in New York while the global benchmark Brent crude April contract advanced $1.08 to $66.29 per barrel. April natural gas futures were little changed at $2.80 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was posting a nearly 2.3% gain while the United States Natural Gas fund was adding nearly 1.0% in value. The Philadelphia Oil Service Sector index was up nearly 0.6%.

Among energy stocks moving on news:

(+) Cheniere Energy Partners LP ( CQP ) was posting a more than 4% gain on Wednesday after the liquefied natural gas storage and regasification company reported GAAP net income of $0.69 per unit, down from $0.76 per unit during the year-ago period and topping the Capital IQ consensus by $0.09 per unit. Total revenue rose to $1.90 billion from $1.52 billion during the year-ago period, also surpassing the $1.66 billion analyst mean.

In other sector news:

(+) Chesapeake Energy ( CHK ) was trading nearly 11% higher this afternoon after the natural gas company reported adjusted Q4 net income of $0.21 per share, down from $0.30 per share during the year-ago period but still beating the Capital IQ consensus by $0.03 per share.

(+) Matador Resources ( MTDR ) rose over 5% on Wednesday after the oil and natural gas producer earned $0.37 per share during its Q4 ended Dec. 31, excluding one-time items, up from $0.25 per share during the year-ago period and exceeding the Capital IQ consensus by $0.10 per share.

(-) Whiting Petroleum ( WLL ) fell almost 12% after late Tuesday reporting a surprise Q4 net loss of $0.05 per share during the three months ended Dec. 31, improving on a $0.17 per share net loss during the same quarter in 2017 but missing the Capital IQ consensus looking for a $0.52 per share profit for the quarter.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

WLL CQP MTDR

Other Topics

Energy

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More