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Sector Update: Energy Stocks Mixed Late Afternoon
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Sector Update: Energy Stocks Mixed Late Afternoon
Nov 9, 2024 12:34 PM

03:54 PM EST, 11/07/2024 (MT Newswires) -- Energy stocks were mixed late Thursday afternoon, with the NYSE Energy Sector Index adding 0.5% and the Energy Select Sector SPDR Fund (XLE) down 0.2%.

The Philadelphia Oil Service Sector index fell 1.6%, and the Dow Jones US Utilities index rose 0.3%.

West Texas Intermediate crude oil gained 0.7% to $72.18 a barrel, while global benchmark Brent advanced 0.8% to $75.51 a barrel. Henry Hub natural gas futures fell 2.1% to $2.69 per 1 million BTU.

US natural gas stocks rose 69 billion cubic feet in the week ended Friday, toping the 68 billion gain expected in a Bloomberg survey and following an increase of 78 billion in the previous week.

In corporate news, Vistra ( VST ) shares jumped 7.7%. The company reported Q3 net income rose to $1.84 billion from $502 million a year earlier.

MDU Resources ( MDU ) reported Q3 adjusted earnings from continuing operations of $0.32 per diluted share, up from $0.29 a year earlier. Its shares popped 3.2%.

Duke Energy ( DUK ) reported Q3 adjusted earnings of $1.62 per share, down from $1.94 a year ago. Analysts polled by Capital IQ expected $1.73. Its shares fell 1.9%.

ConocoPhillips ( COP ) is in a position to outperform large-cap exploration and production peers with a strong balance sheet, competitive free cash flow generation, and scaled Permian assets, among others, RBC Capital Markets said.

ConocoPhillips ( COP ) shares were down 0.7%.

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