Energy stocks are broadly lower, with the NYSE Energy Sector Index retreating 1.1% while shares of energy companies in the S&P 500 are down 1.2% as a group. Crude oil for December delivery is down $1.53 at $94.85 per barrel while November natural gas is down 6 cents to $3.52 per 1 million BTU.
In company news, Chevron Corp ( CVX ) shares are down more than 2% at $117.18 apiece after the energy major reported Q3 earnings of $2.57 per share, slipping from a $2.69 per share gain in the year-ago period and missing the Capital IQ consensus by $0.14.
The oil company attributed the decline mainly to lower margins for refined products.
Sales and other operating revenues rose 1.8% year over year to $57 billion, also falling considerably short of analysts' forecasts for $64.2 billion in quarterly revenue.
In other sector news,
(+) UPL, (+3.5%) Earns $0.37 per share in Q2, ex items, beating estimates by $0.01. Revenue climbs 12.6% year over year to $221.2 mln, roughly in-line with the $221.27 mln consensus.
(-) KOG, (-6.7%) Q3 earnings of $0.12 per share are $0.11 worse than analyst estimates. Revenue climbs 167.2% year over year to $299.59 mln, beating the Street view by $19 mln.
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