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Energy Stocks, Crude Oil Both Lower; Pioneer Natural Resources Quadruples Q3 EPS Over Last Year

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Energy stocks are slightly lower, with the NYSE Energy Sector Index slipping about 0.3% while shares of energy companies in the S&P 500 are down 0.3% as a group. Crude oil for December delivery is down $1.02 at $93.60 per barrel while November natural gas is up 1 cent to $3.46 per 1 million BTU.

In company news, Pioneer Natural Resources ( PXD ) is up 1.3% at $216.27 a share after the petroleum exploration and production company late Monday reported a fourfold increase in Q3 net income compared to last year.

The company earned $0.65 per share during the three months ended Sept. 30, up from a $0.15 per share profit during the year-ago quarter. Excluding one-time items, PXD posted adjusted EPS of $1.26, missing the Thomson Reuters consensus by $0.07 per share.

Net sales rose 13.6% year over year to $826.62 million, also trailing estimates by $134.25 million, or nearly 14%.

In other sector news,

(+) MRO, (+1.7%) Earns $0.87 per share in Q3, ex items, topping Street view by $0.10. Revenue declines 5.9% from the same quarter last year to $3.91 bln, roughly in-line with $3.92-bln consensus.

(-) FST, (-14.1%) Total revenue fell 24.2% year over year to $118.2 mln, trailing the Capital IQ consensus by $10.26 million. Adjusted Q3 earnings of $0.06 per share match Wall Street estimates. Expects Q4 production to trail prior-quarter levels.

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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