Top Energy Stocks
XOM +0.20%
CVX +0.38%
COP +0.56%
SLB +2.93%
OXY +0.47%
Energy stocks were sharply higher Monday, with the NYSE Energy Sector Index adding more than 1.0% in value while shares of energy companies in the S&P 500 were up over 0.9% as a group. Crude oil for January delivery was falling 40 cents to $56.93 per barrel while January natural gas futures were up 15 cents at $2.76 per 1 million BTU. Also, the Philadelphia Oil-Service Sector Index index ( OSX ) was 2.5% higher.
Among energy stocks moving on news:
+ Teekay Offshore Partners ( TOO ) climbed to a 3% advance on Monday, reaching a session high of $2.39 per equity unit after the oil-tanker company said it has completed its upgrade of the Petrojarl I floating production, storage and offloading vessel. The ship recently left the Aibel shipyard in Norway and was en route to the Atlanta Field about 185 kilometers from the coast of Brazil. Following its arrival, expected before March 31, 2018, it will begin field installation and testing ahead of the start of its five-year charter contract with a consortium led by Brazilian exploration and production company Queiroz Galvao Explora ao e Producao.
In other sector news:
+ Norwegian energy major Statoil rose after saying it purchased a 25% stake in Petrobras' ( PBR ) Roncador field in Brazil's Campos Basin for an initial payment of $2.35 billion. The Brazilian energy major also is eligible for up to $550 million in additional payments from Statoil.
- Holly Energy Partners LP ( HEP ) declined Monday, sinking to a session low of $32.20 per unit, after analysts at Goldman Sachs lowered their investment call for the company's stock to Sell from Neutral.
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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.
