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Sector Update: Energy

Energy stocks were ending mostly lower Friday with the NYSE Energy Sector Index sinking about 0.7% while shares of energy companies in the S&P 500 were down 0.7% as a group. Crude oil for September delivery reversed small declines earlier today, settling with a 2-cent gain at $102.09 per barrel while August natural gas fell 7 cents to $3.78 per 1 million BTU.

In company news, NuStar Energy ( NS ) rose Friday after the pipeline company reported Q2 earnings beating analyst forecasts, overcoming below-consensus revenue for the period.

The company earned $0.56 per share during the three months ended June 30, topping analyst projections by $0.11 per share. Revenue fell 17.1% year over year to $749.8 million, lagging the Street view by $57.35 million.

NS shares were ahead nearly 2% shortly before the closing bell at $65.34 each, earlier climbing to a session high of $65.90 a share. The stock has a 52-week range of $36.15 to $68.33 a share, advancing about 62.5% over the past 12 months.

In other sector news,

(+) NR, Adjusted Q2 EPS of $0.20 tops Wall Street forecasts by $0.06 per share. Revenue advances 5.1% over the same quarter last year to $272.5 mln, beating the Capital IQ consensus by $26.27 million.

(-) FET, Q2 adjusted EPS of $0.44 beats by $0.02 per share. Revenue rises 16.4% year over year to $428.3 mln, beating estimates by $10.94 mln. Projects Q3 per-share earnings of $0.42 to $0.48, in-line with the $0.48 per share consensus.

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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