Energy stocks closed with a narrow gain this afternoon, with the NYSE energy sector up 0.3% and the SPDR Energy Select Sector ETF up 0.2%. However, the Philadelphia Oilfield Services Index was down 0.2%, while the Dow Jones US Utilities Index was up 0.4%.
West Texas Intermediate crude rose $ 0.33 to $ 70.29 a barrel in the first month, overcoming daytime weakness, while the global benchmark Brent crude rose $ 0.25 to $ 72.47 a barrel. Henry Hub natural gas futures rose $ 0.02 to $ 3.15 per million Btu.
In the news, Sempra Energy (SRE) held on to modest gains in late Thursday trading at normal times, dropping from nearly 1% gain to an 18-month high of $ 140.74 a share, following the announcement of power and natural gas. it will partner with the federal government’s National Renewable Energy Laboratory to use artificial intelligence to develop future zero-emission systems.
Marathon Oil (MRO) surged 1% after RBC Capital Markets upgraded its energy producer stock to outperform sector performance and raised its target price by $ 4 to $ 18 apiece, citing a commodity price forecast.
On the other hand, Cheniere Energy (LNG) declined slightly after the liquefied natural gas company announced a new partnership with EQT Corp. (EQT) and privately held Aethon Energy Management to better monitor, verify and report on its efforts to reduce greenhouse gas emissions. EQT shares were up 1.1%.
KLX Energy (KLXE) shares fell more than 24% after the company reported a 1Q net loss of $ 4.41 per share, up from a $ 52.60 per share loss in the same quarter last year. years, but still missed a call from one analyst, expecting a loss of $ 2.32 per share for the three months ended April 30. Revenue rose 9.4% year-on-year to $ 90.8 million, which also fell behind analysts’ forecasts of $ 95.1 million.