Energy Sector Update for 11/15/2019: HP,NBL,NBLX,CPG,CPG.TO,GEVO

Top Energy Stocks

XOM +0.97%

CVX -0.15%

COP +1.65%

SLB +1.84%

OXY +3.48%

Energy stocks eased somewhat this afternoon, with the NYSE Energy Sector Index climbing more than 0.7% in late Friday trade while shares of energy companies in the S&P 500 were also up over 0.7% as a group. West Texas Intermediate crude oil for December delivery settled 95 cents higher at $57.72 per barrel in New York while the global benchmark Brent crude January contract climbed $1.01 to $63.29 per barrel. December natural gas futures rose 4 cents to $2.69 per 1 million BTU.

Among energy stocks moving on news:

(+) Helmerich & Payne (HP) rose over 3% on Friday after the oilfield-services company said it earned $0.37 per share during its Q4 ended Sept. 30, up from $0.02 per share during the year-ago period and beating the Capital IQ consensus by $0.14 per share. Revenue declined 6.8% from the same quarter last year to $649.1 million, roughly in-line with the $650.9 million Street view.

In other sector news:

(+) Crescent Point Energy (CPG) rose nearly 2% after the Canadian company late Thursday announced plans to sell selected natural gas infrastructure assets in Saskatchewan to privately held Steel Reef Infrastructure Corp for $500 million.

(-) Gevo (GEVO) declined over 3% this afternoon. The biofuels producer Friday said Lynn Smull was joining the company as chief financial officer, effective on Dec. 16. He joins Gevo from privately held One Energy Enterprises, where he also was CFO.

(-) Noble Energy (NBL) fell more than 3% after the oil and natural gas producer Friday said it was selling the rest of its domestic onshore midstream interests to Noble Midstream Partners (NBLX) in exchange for $1.6 billion in cash and stock. Under terms of the proposed transaction, Noble Energy will receive $670 million in cash and 38.5 million Noble Midstream common unit, which will increase its equity stake in the pipeline company to around 63% of Noble Midstream units.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Latest Markets Videos