Top Energy Stocks
Energy stocks were finishing lower again on Tuesday, with the NYSE Energy Sector Index (^NYE) falling almost 1.6% while shares of energy companies in the S&P 500 (^IXE) were down nearly 1.5% as a group. Crude oil for December delivery (CLZ15.NYM) settled 78 cents lower at $43.20 per barrel while December natural gas futures (NGZ15.NYM) rose 6 cents to $2.41 per 1 million BTU.
In company news, PDC Energy ( PDCE ) has pared much of an earlier decline that followed the oil and natural gas producer today saying Gysle Shellum will retire as chief financial officer next June.
Shellum joined PDC Energy in 2008 and has been CFO at the company since that time. He expects to continue to serve in that role until a new finance chief is hired, with plans to then assist the company with the transition until his formal retirement on June 30, 2016.
PDCE shares were down about 2% at $55.86 apiece heading into today's close, recovering from a mid-morning 4% drop to a $54.72 a share.
In other sector news,
(-) ARLP, Q3 EPS of $0.61 per unit lags Street view by $0.28. Revenue slips 0.5% to $564.4 mln, trailing $627 mln consensus. Cuts FY15 revenue forecast to $2.27 bln to $2.3 bln from prior $2.37 mln to $2.41 mln range, versus $2.42 bln consensus.
(-) CNX, Falls to 13-year low after adjusted Q3 net loss of $0.28 per share lags analyst consensus expecting break-even quarter. Revenue falls 8% to $813.9 mln, beating estimates expecting around $722.9 mln.
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