Top Energy Stocks
Energy stocks were extending their recovery on Thursday, with the NYSE Energy Sector Index climbing 3.8% while the SPDR Energy Select Sector ETF was up 5.8%. Front-month West Texas Intermediate crude oil was slipping $1.20 to $23.29 per barrel while the global benchmark Brent crude contract was declining 67 cents to $26.72 per barrel. Natural gas futures were 1 cent lower at $1.64 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was dropping 4.7% while the United States Natural Gas fund was sliding 1%. The Philadelphia Oil Service Sector index was posting a 2.6% gain.
Among energy stocks moving on news:
(+) Nordic American Tankers (NAT) rose almost 11% after the crude oil tanker company said finance manager Alexander Kihle Wednesday purchased 72,000 of its shares for $3.54 apiece.
In other sector news:
(+) PetroChina (PTR) was nearly 1% higher after Thursday reporting an increase in annual revenue to RMB2.52 trillion during the 12 months ended Dec. 31 compared with RMB2.37 trillion in FY18 revenue. FY19 net income fell to RMB0.25 per American depository share from RMB0.29 per ADS during the prior year. Analyst estimates were not available.
(-) Centrus Energy (LEU) dropped 3.6% after the uranium miner reported a decline in Q4 revenue to $55.7 million from $83.8 million during the final three months of 2018. The company also said it would not be providing its FY20 financial outlook because of the uncertainties resulting from the COVID-19 pandemic.
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