Top gainers in the energy sector
Sanchez Energy (SN) rose 20.7% between June 9 and June 16, 2017. Last week, SN rose the most among the constituents of the following major energy ETFs: the VanEck Vectors Oil Services ETF (OIH), the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), the Alerian MLP ETF (AMLP), the Energy Select Sector SPDR ETF (XLE), and some American-listed international integrated energy stocks.
On June 16, 2017, Sanchez Energy reported on the sale of its non-core Marquis asset to Lonestar Resources US (LONE). The asset is located in the Eagle Ford Shale. On the same day, Sanchez Energy stock rose 13.3%.
Last week, Tidewater (TDW) was the second-largest gainer in the energy sector. On June 12, 2017, Tidewater reported its earnings for the quarter ended March 31, 2017. It reported a loss of $2.01 per share, higher than the Thomson Reuters estimate of a loss of $1.30 per share. However, its revenue for the quarter ended March 31, 2017, stood at $160.7 million, above the Thomson Reuters estimate of $120 million.
On June 13, 2017, after its financial results, TDW stock rose 7.5%. On June 16, 2017, the stock again surged by 13.7%.