On Thursday, U.S. stocks inclined as a result of rise in oil prices and because of the two sector best performances, i.e., Technology and Basic Material Sector.
During Thursday’s current trade, following is the summary for basic material sector:
- SandRidge Energy Inc (NYSE:SD), is the top gainer and is the most volatile stock in the meantime, of the basic materials sector for the current trading session, and added 5.79% to the share, while and it remained 18.14% volatile for the week and 12.38% for the month.
- Tesoro Corporation (NYSE:TSO), is among the top loser of the sector, losing -6.92% from the share, and is now trading at $81.25.
- Mosaic Co (NYSE:MOS), recently hits new 52-week high of $52.37, and is now trading at $52.07.
- Oceaneering International (NYSE:OII), recently hits new 52-week low of $49.47, and is now trading at $49.72.
- Gevo, Inc (NASDAQ:GEVO), is the most active stock for the session, and is now gaining volume of 10.40M.
- Key Energy Services, Inc (NYSE:KEG), will release their earning report, after the market close today.
Following basic material stocks are surging in the course of Thursday’s Midday trade, as oil prices raised once again in this week, cutting two days of consecutive losses: FX Energy, (FXEN), Oasis Petroleum, (OAS), SandRidge Energy, (SD), Hercules Offshore, (HERO), Triangle Petroleum, (TPLM)
Comprehensive data for these stocks is depicted underneath:
FX Energy Inc. (NASDAQ:FXEN)’s shares skyrocketed 26.43% and is now trading at $1.77, following the news that oil prices rallied once again, as the oil prices are showing volatile behavior this week.
Benchmark U.S. crude gained $1.41 to $50.22 a barrel on the New York Mercantile Exchange, rebounding after two days of big losses.
FX Energy Inc. (NASDAQ:FXEN), an independent oil and gas exploration and production company, is engaged in the production, appraisal, and exploration of oil and gas properties in the United States and Poland.
Shares of Oasis Petroleum Inc. (NYSE:OAS), jumped nearly 7.97% and is now trading at $17.20, because of the rise in oil prices today.
Oasis Petroleum Inc. (NYSE:OAS), formerly on February 10, plans to declare its fourth quarter and year-end 2014 financial and operational results on Wednesday, February 25, 2015 after the close of trading on the NYSE. Additionally, the Company will host a conference call on Thursday, February 26, 2015 at 10:00 a.m. Central Time to talk about financial and operational results for the quarter.
Oasis Petroleum Inc. (NYSE:OAS), is an independent exploration and production company focused on the attainment and development of unconventional oil and natural gas resources, primarily operating in the Williston Basin.
SandRidge Energy, Inc. (NYSE:SD), surged 5.52% and is now trading at $2.00, soon after the news that the prices of oil rallied once again this week, representing volatile behavior this week.
SandRidge Energy, Inc. (NYSE:SD), formerly on February 5, declared the appointment of J. Mike Stice to the board of directors. Mr. Stice has over 30 years of experience in the oil and gas industry counting leadership roles at ConocoPhillips and most recently as the Chief Executive Officer of Access Midstream Partners, L.P. from July 2010 until its merger with Williams Partners L.P. in December 2014.
SandRidge Energy, Inc. (NYSE:SD), is an oil and natural gas Company headquartered in Oklahoma City, Oklahoma with its principal focus on exploration and production. SandRidge and its auxiliaries also own and operate gas gathering and processing facilities, saltwater gathering and electrical infrastructure facilities and conduct marketing operations.
Shares of the Hercules Offshore, Inc. (NASDAQ:HERO), gained 3.46% & is now trading at $0.92, , soon after Hercules Offshore, stated a loss from ongoing operations of $154.1 million, or $0.96 per diluted share, on proceed of $178.7 million for the fourth quarter 2014, contrast to a loss from ongoing operations of $100.8 million, or $0.63 per diluted share, on proceed of $235.3 million for the fourth quarter 2013. As outlined in the Reconciliation of GAAP to Non-GAAP Financial Measures, fourth quarter 2014 results comprised of a pre-tax non-cash impairment charge of $117.0 million, related to the cold stacking of the Hercules 120, Hercules 200, Hercules 214, Hercules 251 and Hercules 253, contrast to fourth quarter 2013 results which comprised of a $114.2 million non-cash impairment charge, $31.6 million insurance settlement gain related to the Hercules 265, $11.5 million loss on the sale of Hercules 170, and $29.3 million charge related to the early retirement and issuance of debt. On an after-tax basis, fourth quarter 2014 items approximated a net charge of $117.0 million, or $0.73 per diluted share, contrast to a fourth quarter 2013 net charge of about $123.4 million, or $0.77 per diluted share.
Hercules Offshore, Inc. (NASDAQ:HERO), operates a fleet of 33 jackup rigs, counting one rig under construction, and 24 liftboats. The Company offers a range of services to oil and gas producers to meet their needs during drilling, well service, platform inspection, maintenance, and decommissioning operations in several key shallow water provinces around the world.
Triangle Petroleum Corporation (NYSE MKT:TPLM), mounted 5.33% to close at $5.73, Triangle Petroleum ‘s volatility for the week is 9.34%, while for the month remained 10.23%. With recent incline, the year-to-date (YTD) performance reflected a 13.81% incline above last year. During the past month the stock gained 20.09%, bringing three-month performance to -22.29% and six-month performance to -51.21%.
Triangle Petroleum Corporation (NYSE MKT:TPLM), formerly on February 5, provides its capital budget outlook and guidance for its E&P segment, RockPile Energy Services and an update on Caliber Midstream for fiscal year 2016, ending January 31, 2016.
Fiscal Year 2016 Capital Budget Outlook Key Features:
- FY2016 budget represents a 71% year-over-year reduction,
- Focused on 1) protecting the balance sheet, 2) maintaining adequate liquidity, 3) return on capital and 4) positioning the Company for earnings and production growth post-recovery.
- Development plan contemplates 2 operated rigs on average for the year.
- Triangle presently delaying all operated well completions until May or longer, subject to commodity prices and gaps in the RockPile third-party completion plan.
- The Company anticipates having 20-24 wells waiting on completion as of May 1, 2015.
- Triangle is actively working with vendors and service providers to reduce drilling and completion costs, targeting a 10-20% reduction in E&P gross AFE costs,
- Plan allows Triangle to preserve near-term liquidity and avoids well IPs in a low commodity price environment to the detriment of return on capital.
Triangle Petroleum Corporation (NYSE MKT:TPLM), is a vertically integrated, growth oriented energy company with a planned focus on developing the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana.
