Markets

Energy Sector Update for 04/15/2019: USWS,PRB,TRNX

Top Energy Stocks

XOM -0.16%

CVX +0.16%

COP -1.66%

SLB +1.27%

OXY -2.35%

Energy stocks were moderately lower, with the NYSE Energy Sector Index falling more than 0.2% while shares of energy companies in the S&P 500 were down almost 0.4% as a group. West Texas Intermediate crude oil for May delivery was slipping 66 cents to $63.23 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude June contract was declining 47 cents to $71.08 per barrel. May natural gas futures were 5 cents lower at $2.61 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was falling just under 0.8% while the United States Natural Gas fund was dropping about 1.8. The Philadelphia Oil Service Sector index was up over 0.1%.

Among energy stocks moving on news:

(-) U.S. Well Services ( USWS ) declined Monday, falling about 2.7%. Piper Jaffray began coverage of the oilfield-services company with an overweight investment rating.

In other sector news:

(+) Petrobras ( PBR ) climbed about 1.3% on Monday after investment firms CVC Capital Partners and Itausa Investimentos reportedly expressed an interest in acquiring its Liquigas Distribuidora liquefied natural gas distribution subsidiary from the Brazilian energy major, according to Reuters, citing sources.

(-) Taronis Technologies ( TRNX ) dropped almost 14% after the alternative-energy company late Friday filed a shelf registration for the sale of up to $100 million of its equity and debt securities from time to time. The company also said the Florida Department of Environmental Protection included its water-cleaning technology in its library of accepted technologies.

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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