Top Energy Stocks
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OXY +0.12%
Energy stocks were mostly higher Monday afternoon, with the NYSE Energy Sector Index Thursday rising nearly 0.6% while shares of energy companies in the S&P 500 were up slightly more than 0.6% as a group. West Texas Intermediate crude oil for September delivery was ahead $1.10 to $69.59 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude October contract was advancing 82 cents to $74.03 per barrel. September natural gas futures were unchanged at $2.71 per 1 million BTU. Among energy-related ETFs, United States Oil was climbing over 1.3% while United States Natural Gas was holding on to a 0.2% gain. The Philadelphia Oil Service Sector index was up just over 0.1% today.
In industry news:
Saudi Arabia said on Saturday it has resumed all oil shipments through the strategic Red Sea shipping lane of Bab al-Mandeb that had been halted since July 25 after attacks on two oil tankers by Yemen's Iran-aligned Houthi movement.
"The decision to resume oil shipment through the strait of Bab al-Mandeb was made after the leadership of the coalition has taken necessary measures to protect the coalition states' ships," Energy Minister Khalid al-Falih said in the ministry statement. Saudi Aramco confirmed that shipping had resumed effective immediately.
Among energy stocks moving on news:
- Kosmos Energy ( KOS ) was declining Monday, dropping over 2% in recent trade, after the oil and natural gas producer missed analyst projections with its Q2 financial results and also announced its $1.225 billion purchase of privately held Deep Gulf Energy.
In other sector news,
+ Lonestar Resources ( LONE ) was surging Monday, rising as much as 10%, despite posting mixed Q2 financial results after. The oil and natural gas company recorded an $0.84 per share net loss on $47.9 million in revenue during the three months ended June 30. That compares with a $1.07 per share net loss in the year-ago period on $18.1 million in revenue during the year-ago period. Analyst estimates were not available.
- Vedanta ( VEDL ) was narrowly lower Monday, slipping less than 1%, after the India-based natural resources company reported fiscal Q1 group earnings before interest, taxes, depreciation and amortization of $983 million, up from $778 million in the prior year period. Revenue grew to $3.55 billion from $3.09 billion, and topping the $2.99 billion analyst mean.
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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.
