Mid-day energy report: Helix Energy jumps 8% on earnings

Mid-day energy report: Helix Energy jumps 8% on earnings

David B. Wilkerson at MarketWatch.com reports that shares of Helix Energy Solutions Group Inc. HLX +8.12% were up 8% Monday after the company reported better-than-expected first-quarter results. “The company’s profit more than doubled on increased revenues in its contracting-services unit and strong prices it received on Gulf Coast crude-oil sales,” the report said.

More broadly the energy sector mirrored downward moves in the broad equities market, according to Steve Geisi. “Energy stocks in the S&P 500 fell fractionally, on average, with a 5.2% loss by First Solar Inc. FSLR -4.84% contrasted by a rise of nearly 3% from Chesapeake Energy Corp. CHK +3.96% . Also moving lower, Alpha Natural Resources ANR -0.25%  dropped 0.7%. Checking the major benchmarks for the energy sector, the NYSE Arca Oil IndexXX:XOI -0.72%  rose 0.7%, the NYSE Arca Natural Gas Index XX:XNG +0.35%  edged down 0.1% and Philadelphia Oil Service Index OSX +0.10%  dropped 0.3%.”

However, ExxonMobil is a brightspot in Monday trading so far as it XOM +0.35% rose 0.3% as the best performer among the 30 stocks in the Dow Jones Industrial Average DJIA -1.12%, according to Geisi. The Wall Street Journal reported that some analysts expect the oil major may boost its dividend later this week.

Additionally, the Wall Street Journal (subscription required) reported on April 20 “ExxonMobil Corp. XOM +0.33% topped the list for Selling on Strength, which tracks stocks that rose in price but had the largest outflow of money.”


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