Top Energy Stocks
XOM +0.66%
CVX +1.34%
COP +1.33%
SLB +4.56%
OXY +0.82%
Energy stocks were sharply higher, with the NYSE Energy Sector Index springing to a nearly 1.8% advance while shares of energy companies in the S&P 500 were up almost 1.9% as a group. Crude oil for December delivery was up $1.38 at $57.02 per barrel while December natural gas futures were 13 cents higher at $3.11 per 1 million BTU.
In company news, Kosmos Energy ( KOS ) reached a nearly two-year high on Monday of $8.40 a share, rising almost 4%, after the oil and natural gas producer reported a smaller-than-expected non-GAAP Q3 net loss after revenue during the quarter more than doubled compared with year-ago levels and topped Wall Street expectations.
Excluding one-time items, the company reported a $0.09 per share net loss for the three months ended Sept. 30, unchanged from the year-ago period and nudging past the Capital IQ consensus by $0.01 per share. Revenue jumped 127% year over year to $151.2 million, also topping the $149.1 million analyst mean.
In other sector news,
(+) BHGE, (+7.3%) Begins $3 bln stock buyback program and discloses plans to issue new debt securities but did not provide additional details.
(-) SUN, (+1.0%) Names chief operational officer Joe Kim to be CEO, effective on Jan. 1, when current chief executive Bob Owens will retire.
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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.
