Sector Update: Energy Stocks, Crude Oil Posting Modest Gains
01:14 PM EDT, 05/07/2021 (MT Newswires) -- Energy stocks were higher this afternoon, with the NYSE Energy Sector Index climbing 1.1% while the SPDR Energy Select Sector ETF also was up 1.5%.
Front-month West Texas Intermediate crude oil was edging $0.13 per share to $64.84 per barrel while the global benchmark Brent crude contract was advancing $0.15 to $68.24 per barrel. Henry Hub natural gas futures were $0.04 higher at $2.97 per 1 million BTU.
Among energy-related ETFs, the United States Oil Fund was ahead 0.2% while the United States Natural Gas Fund was adding 1%. The Philadelphia Oil-Service Sector index was posting a 2.5% gain and the Dow Jones US Utilities Index was ahead 0.4%.
In company news, Broadwind (BWEN) rose 2.6% after the turbine equipment company reported a Q1 net loss of $0.07 per basic share, reversing a $0.06 per share profit during the same quarter last year but still beating the Capital IQ consensus expecting a $0.17 per share loss.
Pembina Pipeline (PBA) slid 3.1% after reporting Q1 net income of C$0.51 per share, unchanged from the year-ago quarter and trailing the Capital IQ consensus expecting C$0.57 per share.
Calumet Specialty Products Partners LP (CLMT) dropped 6.4% after the specialty hydrocarbons company saw its Q1 net loss widen to $1.82 per unit from a $0.18 per unit loss during the same quarter in 2020 and missing the Capital IQ consensus looking for a net loss of $0.57 per share.