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Energy Sector Update for 12/21/2018: UPL,VET,VET.TO,MRO

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Top Energy Stocks

XOM, +0.29%

CVX, -0.29%

COP, +0.05%

SLB, -0.36%

OXY, -0.45%

Energy stocks were edging lower this afternoon, with the NYSE Energy Sector Index falling 0.4%, while shares of energy companies in the S&P 500 were down 0.3% as a group. West Texas Intermediate crude oil for February delivery was rising 14 cents to $46.02 per barrel at the New York Mercantile Exchange, while the global benchmark Brent crude February contract was declining 3 cents to $54.32 per barrel. January natural gas futures were 22 cents higher at $3.80 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was falling about 0.3%, while United States Natural Gas was posting a 1.7% advance. The Philadelphia Oil Service Sector index was up 0.3%.

Among energy stocks moving on news:

(-) Ultra Petroleum ( UPL ) spiked 19% out of the gate, only to fall 2.7% in recent trading, after saying it expects to close on transactions before the end of the year that will reduce long-term debt at the oil and natural producer by at least $235 million.

(-) Vermilion Energy ( VET ) declined 1.5% on Friday after the Canadian exploration and production company completed its acquisition of Shell E&P Ireland Ltd as well as a 1.5% working interest in the Corrib natural gas project in Ireland from the Canada Pension Plan Investment Board.

Analyst Actions:

(+) Marathon Oil Corp ( MRO ) was slightly higher Friday afternoon after Citigroup raised its investment recommendation on the energy major's shares to buy from neutal.

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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