Top Energy Stocks
Energy stocks are little changed this afternoon with the NYSE Energy Sector Index and the S&P Energy Index both down less than 0.1%. Crude oil for February delivery is down 69 cents To $93.13 per barrel. February natural gas is up 9 cents to $3.28 per 1 million BTU.
In company news, KBR Inc. ( KBR ) is down 9% after the oilfield-services company cut its FY12 earnings forecast and issued a disappointing outlook for 2013.
The company said expects to take significant charges the quarter ended Dec. 31 related to its minerals and U.S. construction divisions, explaining labor costs were higher than it thought.
KBR now expects to report FY12 net income of $1.95 to $2.10 a share - down from its forecast in October for EPS of $2.60 and $2.80. Both estimates exclude a large Q3 write-down. Analysts, on average, have been expecting KBR to earn $2.66 a share, according to FactSet.
Looking forward, KBR sees FY13 earnings of $2.45 to $2.90 a share, straddling the FactSet consensus of $2.66.
In other sector news,
(+) CVX, (+1.2%) Says Q3 earnings will rise after higher prices offset declining output during the quarter. CVX reports its latest financial results Feb. 1.
(-) NAT, (-2.3%) Acquires Scandic American Shipping Ltd, its management company since 2004, for $18.1 million in stock.
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