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Energy Sector Update for 02/28/2019: CRC, WTI, ECA, XOM, CVX, COP, SLB, OXY

Top Energy Stocks:

XOM: -0.10%

CVX: +0.14%

COP: +0.01%

SLB: Flat

OXY: +0.15%

Leading energy stocks were mostly higher in Thursday's pre-bell trading. West Texas Intermediate crude oil for April delivery was up by $0.15 to $57.09 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude April contract lost $0.31 to $66.08 per barrel and April natural gas futures were 3 cents higher at $2.83 per 1 million BTU.

Stocks moving on news include:

(+) California Resources ( CRC ), which was trading near 16% higher after late Wednesday releasing financial results for Q4, returning to profit from a loss in the prior-year period, and reporting revenue that topped analysts' expectations. The company posted adjusted earnings of $0.53 per share.

(+) W&T Offshore ( WTI ) was up 3% as i t report ed Q4 adjusted earnings of $0.22 per share compared with $0.17 per share recorded in the year-ago quarter. The Capital IQ average was for adjusted EPS of $0.15.

(+) Encana ( ECA ) was advancing by more than 4% after booking Q4 adjusted earnings of $0.32 per share, up from $0.12 in the same period a year ago and topping the estimate of $0.16 from analysts polled by Capital IQ.

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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