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Companies in the Energy Sector Had a Mixed Performance on July 28



Energy sector was mixed on July 28

Companies in the energy sector had a mixed performance on July 28. At 3:45 PM EST, major ETFs related to the energy sector such as the United States Oil (USO) and the PowerShares DB Oil (DBO) fell ~2.2% and ~1.5%. The Energy Select Sector SPDR (XLE) remained almost unchanged.

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ConocoPhillips reported a loss for the fifth consecutive quarter

ConocoPhillips (COP) is one of the largest production and exploration companies. It announced weaker-than-expected quarterly earnings. ConocoPhillips announced a loss of $1.1 billion in 2Q16—equivalent to $0.86 per share. This is worse than the market’s expectation of a loss of $0.61 per share. In addition to the release of the quarterly results, ConocoPhillips also announced the reduction of capital expenditure for 2016 from $5.7 billion to $5.5 billion.

On the other hand, ConocoPhillips increased its production forecast from 1.54 MMboe (million barrels of oil equivalent) per day to 1.57 MMboe per day. Since the beginning of 2016, ConocoPhillips has declined ~13%. At 11:50 AM EST on July 28, it was trading at $40.16—a gain of ~0.24%.

Top five performers 

Below are the top five companies in the Major Integrated Oil & Gas industry on July 28.

  • YPF (YPF) fell by ~0.17%
  • Imperial Oil (IMO) rose by ~0.59%
  • Total S.A. (TOT) rose by ~0.85%
  • Encana Corporation (ECA) rose by ~1.6%
  • EQT GP Holdings (EQGP) rose by ~2.9%

Bottom five performers 

Below are the bottom five companies in the Major Integrated Oil & Gas industry on July 28.

  • Aegean Marine Petroleum Network (ANW) fell by ~1.8%
  • China Petroleum & Chemical (SNP) fell by ~1.9%
  • Ecopetrol SA (EC) fell by ~2.7%
  • Royal Dutch Shell B (RDSb) fell by ~2.8%
  • Royal Dutch Shell A (RDSa) fell by ~2.90%

In the next part, we’ll discuss how copper performed on July 28.


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