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Sector Update: Energy

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Energy shares are higher in mid-day trading, while crude oil futures manage to log modest gains but not nearly enough to compensate for yesterday's plunge. Light, sweet crude for September delivery traded up 0.8% to $81.93 a barrel. In energy ETFs, the United States Oil Fund ( USO ) is up 1.27% to $31.91. The United States Natural Gas ETF ( UNG ) is up 1.4% at $10.12. In mid-day news, Northern Oil and Gas, Inc. ( NOG ) is up 32.08% to $17.50 a share after it today announced Q2 fully diluted EPS of $0.33 and revenue of approximately $35.5 million. Analysts expected EPS of $0.19 and revenue of $39.07 million. Meanwhile, Sempra Energy ( SRE ) is up 1.1% to $46.09 after it reported Q2 EPS of $0.97, which is in-line with expectations. Revenue increased 20.6% from the previous year period to $2.42 billion, which beats by $350 million.

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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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