Energy stocks

In the week ending June 7, oilfield services stock McDermott International (MDR) rose the most among the stocks in the energy space. The stock is included in the following ETFs:

  • the Alerian MLP ETF (AMLP)
  • the Energy Select Sector SPDR ETF (XLE)
  • the VanEck Vectors Oil Services ETF (OIH)
  • the VanEck Vectors Oil Refiners ETF (CRAK)
  • the SPDR S&P Oil & Gas Exploration & Production ETF (XOP)

These Energy Stocks Were the Top Performers in the Sector

On June 5, MDR announced that “CCS JV, a joint venture between McDermott, Saipem and Chiyoda, has reached full agreement for a contract with Anadarko Petroleum Corporation for the Mozambique Area 1 Liquefied Natural Gas Development.” On the same day, MDR’s stock prices rose more than 5%.

Other strong performers

Another oilfield services stock, TechnipFMC (FTI) rose the fifth most among energy stocks between May 31 and June 7. On June 4, Berenberg reduced its price target on FTI by 50 cents to $28.5.

Upstream stocks Continental Resources (CLR) and Apache (APA) rose third and fourth, while downstream stock Delek US Holdings (DK) had the second-highest rise among energy stocks, respectively, last week.

On June 3, CLR announced the start of a quarterly dividend of 5 cents per share and a share-repurchase of $1 billion. On the next day, CLR’s stock prices jumped ~15%. In the second quarter, based on analysts’ consensus estimates, Apache’s earnings might double on a sequential basis. Moreover, despite weaker oil prices, the rise of 4.4% in the S&P 500 Index (SPY) might have supported APA’s stock prices.

Latest articles

On Tuesday, Tesla (TSLA) cut the prices of its vehicles to standardize its global car line-up, according to Reuters.

Yesterday, PayPal (PYPL) announced that it would expand Xoom, which is its international money transfer service, to 32 markets in Europe.

Visa stock has risen about 37% and has outperformed the S&P 500 Index so far in 2019.

16 Jul

What to Expect from Skechers’s Q2 Results

WRITTEN BY Sharon Bailey

Skechers (SKX) is set to declare its results for the second quarter after the markets close on July 18. Here's what you should know.

On Tuesday, Canadian Pacific Railway (CP) reported strong second-quarter earnings. The company's top and bottom lines touched a record mark.

16 Jul

What to Expect from Crown Castle's Q2 Results

WRITTEN BY Sushree Mohanty

Crown Castle International (CCI) is scheduled to announce its second-quarter earnings results on Wednesday after the market closes.