Markets
WLL

Energy Stocks Adding to Late Gains; Whiting Petroleum Jumps Nearly 8% After $0.20 Q3 EPS Beat

Top Energy Stocks

XOM +1.19%

CVX +0.67%

COP +1.51%

SLB +0.04%

OXY +1.57%

Energy stocks are finishing moderately higher with the NYSE Energy Sector Index adding 0.7% while shares of energy companies in the S&P 500 are up 0.6% as a group. Crude oil for December delivery reversed its early losses to settle 25 cents higher at $97.11 per barrel while November natural gas was off a penny to $3.63 per 1 million BTU.

In company news, Whiting Petroleum ( WLL ) is up nearly 8% in late trade after reporting Q3 earnings of $1.28 per share, ex items, and beating the Capital IQ consensus by $0.20 per share.

Revenue climbed 56.6% over the year-ago period to $830.99 mln, breezing past analyst estimates by $135.34 million.

Q3 production totaled 8.533 million barrels of oil equivalent, consisting of 87% crude oil and natural gas liquids. Q4 production seen rising to between 8.8 million to 9.2 million barrels.

In other sector news,

(+) FANG, Forecasts FY14 production will likely double from current-year levels, rising to between 15 mln to 16 mln barrels of oil equivalent per day. Company also expands 2014 capital budget to new range of $425 mln to $475 mln.

(-) CAM, Oilfield services firm reports Q3 earnings of $0.81 per share, ex items, trailing analyst estimates by $0.03. Revenue rises 12.5% to $2.5 billion, lagging the Capital IQ consensus by around $90 mln. Issues downside guidance for Q4.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

WLL

Other Topics

Commodities

Latest Markets Videos