Markets

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

Top Energy Stocks

XOM +0.90%

CVX +0.75%

COP +0.73%

SLB +0.18%

OXY +0.97%

Energy stocks were mostly higher, with the NYSE Energy Sector Index climbing about 0.6% while shares of energy companies in the S&P 500 were up 0.8% as a group. West Texas Intermediate crude oil for April delivery was rising $1.75 to $57.25 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude April contract was advancing $1.37 to $66.58 per barrel. April natural gas futures were 2 cents lower at $2.78 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was posting a 2.9% gain while the United States Natural Gas fund was adding nearly 0.5% in value. The Philadelphia Oil Service Sector index was up nearly 0.7%.

Among energy stocks moving on news:

(+) Matador Resources ( MTDR ) rose over 7% 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.

In other sector news:

(+) Chesapeake Energy ( CHK ) was trading nearly 12% 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.

(-) Whiting Petroleum ( WLL ) fell almost 11% 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.

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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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