Integrated energy stocks
Continuing with the biggest movers in the energy sector, we’ll now look at the top gainers from the integrated energy sector in the US for the week that began on March 12.
Eni SPA leading integrated energy stocks gains
Eni SPA (E) is at the top of the list of gainers from the integrated energy group. Eni SPA increased from last week’s close of $33.55 on March 9 to $34.07 on March 15—an increase of almost ~1.6%.
On March 15, Eni’s board of directors approved consolidated financial statements for the year ending December 31. In 2017, Eni reported revenues of ~$75.5 billion—lower than the Wall Street analyst consensus of ~$81.9 billion. However, Eni beat EPS estimates by $0.01 in 2017. Eni reported an adjusted profit of $1.51 per share, whereas Wall Street analyst consensus was for profit of $1.50 per share.
There’s no stock-moving press release from the company this week. However, CVE has been in a strong downtrend since January 11, and it’s down ~28% since then. So this week’s rise appears to be a consolidation of the recent fall in CVE.
Other rising stocks this week
Eni SPA is followed by Statoil ASA (STO), which saw an increase of ~0.4% so far this week. On March 15, Statoil’s board of directors proposed changing the company’s name to Equinor.