Energy Sector Update for 05/21/2019: PNRG, FTI, ERF, XOM, CVX, COP, SLB, OXY

Top Energy Stocks:

XOM: Flat

CVX: +0.99%

COP: +0.70%

SLB: +0.15%

OXY: +0.09%

Energy giants were flat to higher pre-market Tuesday. West Texas Intermediate crude oil for June delivery turned lower $0.08 at $63.02 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude July contract gained $0.12 to $72.09 per barrel and June natural gas futures were 3 cents lower at $2.64 per 1 million BTU. Among energy-related ETFs, the United States Oil Fund was down 0.08%, while the United States Natural Gas fund was 0.95% lower.

In other sector news:

(=) PrimeEnergy (PNRG) was unchanged after it reported a Q1 loss of $1.49 per common share, compared to earnings of $1.14 in the prior-year quarter.

(+) Novatek said its Arctic LNG 2 joint venture and TechnipFMC (FTI) signed a contract on engineering, procurement, supply, construction and commissioning of an integrated liquefied natural gas (LNG) facility with annual liquefaction capacity of 19.8 million tons under the Arctic LNG 2 project. TechnipFMC was slightly higher after the news.

(+) Enerplus (ERF) was recently rallying after saying it will pay a cash dividend of CAD0.01 ($0.0075) per share on June 14 to shareholders of record as of May 31.

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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