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HFC

Energy Sector Update for 12/29/2015: HFC,FANG,HLX

Top Energy Stocks

XOM +0.25%

CVX +1.32%

COP +0.88%

SLB -0.09%

OXY -0.15%

Energy stocks were mostly higher today, with the NYSE Energy Sector Index climbing about 0.4% while shares of energy companies in the S&P 500 were up about 0.3% as a group. Crude oil for February delivery was up 86 cents at $37.67 per barrel while February natural gas futures were another 10 cents higher at $2.36 per 1 million BTU.

In company news, HollyFrontier Corp ( HFC ) slipped Tuesday after the refinery company said it expects a significant drop in Q4 production compared with its record-setting performance during the preceding quarter following planned and unplanned maintenance at its facilities in Oklahoma, Kansas and Wyoming.

HollyFrontier recently completed planned maintenance at its distillate hydrotreating units in El Dorado, Kan., and Cheyene, Wyo., in addition to scheduled work at its Tulsa West crude and lubricants unit in Oklahoma. There also was an unplanned shutdown of the fluid catalytic cracking unit at the Tulsa refinery, the company said, adding those repairs are now complete and the unit successfully restarted.

Following the recent maintenance work as well as extreme weather conditions affecting crude oil availability to its Navajo refinery in Artesia, N.M., HollyFrontier said it expects to finish the current quarter ending this week producing between 395,000 to 405,000 barrels per day, down at least 14.6% from a record-setting average of 474,000 barrels per day during the three months ended Sept. 30.

HFC shares recently were down almost 1% at $40.28 each, earlier falling to a session low of $40.08 a share.

In other sector news,

(-) FANG, (-0.2%) Named Top Pick for 2016 at Sterne Agee.

(-) HLX, (-3.3%) Cowen reduces price target by $1.50 to $4.50 a share but reiterates its Market Perform rating for the stock.

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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