Markets
CLR

Sector Update: Energy

A pen and a calculator.
Credit: Shutterstock photo

Energy stocks pared some of their earlier losses this afternoon with the NYSE Energy Sector Index sinking 1.0% while shares of energy companies in the S&P 500 were down 1.3% as a group shortly before the close. Crude oil for June delivery settled 87 cents lower at $101.50 per barrel while June natural gas was up 10 cents to finish at $4.47 per 1 million BTU.

In company news, WPX Energy ( WPX ) was enjoying moderate gains Thursday after Richard E. Muncrief today officially took over as chief executive officer at the oil and gas company.

Muncrief joins WPX from Continental Resources ( CLR ) where he oversaw corporate engineering, reservoir development, drilling, production operations and supply chain management.

In a letter to WPX employees today, Muncrief said, "I believe in the future of WPX and want to lead a transformation of this company that we and our shareholders are proud of. That's why I'm here."

WPX shares were ahead 2.3% at $21.49 apiece shortly before the closing bell, just 5 cents off their intra-day high. The stock has a 52-week range of $16.80 to $23.69 a share, climbing nearly 18% in value over the past 12 months.

In other sector news,

(+) RCON, Reports 143% year over year increase in Q1 revenue to $2.96 mln. Net loss narrows to $310,000, or $0.07 per share, from a $0.20 per share net loss last year. Analyst estimates were not available.

(-) NOV, Announces 75% increase in its quarterly dividend to $0.46 per share, payable June 27 to shareholders of record on June 13.

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

CLR WPX

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More