Energy Sector Update for 02/27/2019: CPQ,MTDR,CHK,WLL
Top Energy Stocks
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.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.