Energy Sector Update for 08/03/2018: EOG,AAV,AAV.TO,GEOS

Top Energy Stocks

XOM +0.08%

CVX -0.33%

COP -0.35%

SLB +0.12%

OXY flat

Energy stocks were mixed in early Friday trading. In commodities trading, West Texas Intermediate crude oil for September delivery was slipping 21 cents to $68.75 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude October contract was declining 5 cents to $73.40 per barrel. September natural gas futures were 2 cents higher at $2.84 per 1 million BTU. Among energy-related ETFs, United States Oil was falling more than 0.4% while United States Natural Gas was rising almost 0.6%.

Among energy stocks moving on news:

- EOG Resources ( EOG ) declined in the pre-market session Friday morning, falling over 1%, despite the oil and natural gas producer reporting huge jumps in its adjusted Q2 net income and revenue compared with year-ago levels and also beating analyst estimates by sizable margins. It also increased its quarterly dividend by 19% over its most recent distribution, declaring a $0.22 per share dividend payable Oct. 31 to shareholders of record on Oct. 17.

In other sector news

= Advantage Oild and Oil Ltd (AAV,AAV.TO) was steady in Friday's pre-market after posting a Q2 net loss of C$0.08 per share during the April-to-June reporting period, expanding 60% on a C$0.05 per share net loss during the year-ago quarter. Revenue fell, as expected, to C$45.3 million from C$69.2 million last year after the Canadian energy company in April said it would scale back production due to low natural gas prices . No analyst estimates were available.

= Geospace Technologies ( GEOS ) was unchanged ahead of Friday's opening bell after the oilfield-services company narrowed its fiscal Q3 net loss to $0.36 per share during the three months ended June 30 compared with a $1.09 per share net loss during the same quarter last year. Revenue grew to $21.3 million from $14.2 million last year. There were no analyst estimates available for comparison.

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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