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Sector Update: Energy

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Energy stocks were ending mixed this afternoon with the NYSE Energy Sector Index climbing about 0.2% while shares of energy companies in the S&P 500 were down about 0.7% as a group. Crude oil for September delivery settled $2.01 lower at $95.58 per barrel while September natural gas was up 8 cents to $3.91 per 1 million BTU.

In company news, Vertex Energy ( VTNR ) rallied Thursday after the oil and gas company reported Q2 earnings and revenue that beat analyst estimates.

The company reported net income of $0.28 per share during the three months ended June 30, up from a $0.10 per share gain during the same quarter last year and beating the Capital IQ consensus by $0.20 cents per share.

Revenue grew 105.4% over year-ago levels to $72.1 million but trailing the Street view by around $2 mln.

VTNR shares were ahead more than 13% at $8.43 a share in late trade, earlier rising to a session high of $9.00 a share.

In other sector news,

(+) ANW, Reports Q2 profit of $9.3 mln, or $0.20 per share, improving on $5.5 mln gain last year and beating analyst estimates by $0.02 per share. Revenue rose 1.7% year over year to $1.72 bln, edging the Capital IQ consensus by around $20 mln.

(-) EXXI, Fiscal Q4 net loss of $1.82 mln, or $0.06 per share, reverses $62.1 mln profit last year and trails estimates looking for a $0.26 per share gain. Revenue rises 3.1% to $324.1 mln, topping Capital IQ consenus by $3.85 mln.

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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