On Friday Morning, Basic materials stocks climbed 0.7% on Wall Street.
Oil climbed above $60 a barrel shockingly not long from now, upheld by signs that deeper industry spending cuts may check abundance supply. Brent generally settled up $2.24 at $61.52 every barrel. U.S. generally settled up $1.57 at $52.78 every barrel. The ascent in oil helped U.S. energy offers.
Crude oil costs have aroused in February. The cost for West Texas Intermediate, the U.S. benchmark, is up 18 percent from late January.
In metals exchanging, valuable and mechanical metals fates shut higher. Gold raised $6.40 to $1,227.10 an ounce, silver hopped 50 pennies to $17.29 an ounce and copper edged up short of what a penny to $2.61 a pound.
U.S. gold for April conveyance edged up $6.40 to settle at $1,227.10 an ounce.
The Gold/Oil proportion is critical in light of the fact that energy expenses can represent 25% of a mineworker’s expenses. Mining is a to a great degree energy escalated action.
U.S. financial markets were closed on Monday for the Presidents’ Day holiday.
Below is described the details of few basic material sector stocks that gained Friday, following the trend of U.S. stock market:
Pioneer Energy Services Corp. (NYSE:PES)’s shares picked up 10.38%, and closed at $5.74, during the last trading session. The stock has the beta value of 2.48, and its volatility for the week is 9.54%, while for the month it is 8.22%. The company has the market capitalization of $366.21M.
A contract land drilling services and production services provider company, formerly on January 21, declared that it will release its fourth quarter and year-end 2014 financial results before the market opens on Tuesday, February 17. In conjunction with the release, Pioneer has planned a conference call that will be broadcast live over the Internet the same day starting at 11:00 a.m. Eastern Time (10:00 a.m. Central Time). Investors may access the call either by phone or audio webcast.
Pioneer Energy Services Corp. (NYSE:PES), provides contract land drilling services to independent and major oil and gas operators in Texas, the Mid-Continent, Rocky Mountain and Appalachian regions and internationally in Colombia through its Drilling Services Segment. Pioneer also provides well, wireline and coiled tubing services to producers in the U.S. Gulf Coast, offshore Gulf of Mexico, Mid-Continent and Rocky Mountain regions through its Production Services Segment.
Swift Energy Co. (NYSE:SFY), raised 9.81%, and closed at $2.91, during the last trading session. The company holds the book value per share of 24.86, whereas cash per share is 0.21. Price to book value is estimated to be 0.12, while price to sale value is 0.22. Analysts mean recommendation for the stock is said to be 2.90 (where 1=Buy, 5=sale).
A company focusing on oil and natural gas reserves, formerly on January 26, declared that it will report its fourth quarter and year-end 2014 financial and operational results on Thursday, February 26, 2015 by issuing a news release before the market opens and conducting a conference call to talk about such results on that date at 9:00 a.m. CST. To take part in this conference call, dial 877-420-2751 five to ten minutes before the planned start time and indicate your intention to take part in the Swift Energy conference call.
Swift Energy Co. (NYSE:SFY), founded in 1979 and headquartered in Houston, engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on oil and natural gas reserves onshore in Texas and Louisiana and in the inland waters of Louisiana.
Basic Energy Services, Inc. (NYSE:BAS), inclined 9.31%, and closed at $7.28, during the last trading session, following the news that an energy service company, stated selected operating data for the month of January 2015. Basic’s well servicing rig count remained unchanged at 421. Well servicing rig hours for the month were 57,400 producing a rig utilization rate of 56%, contrast to 60% and 67% in December 2014 and January 2014, respectively. During the month, Basic’s fluid service truck count raised by seven to 1,054. Fluid service truck hours for the month were 208,100, contrast to 218,200 and 207,400 in December 2014 and January 2014, respectively. Drilling rig days for the month were 275 producing a rig utilization of 74%, contrast to 87% and 69% in December 2014 and January 2014, respectively.
Basic Energy Services, Inc. (NYSE:BAS), provides well site services essential to maintaining production from the oil and gas wells within its operating area. The company employs more than 5,400 employees in more than 100 service points throughout the major oil and gas producing regions in Texas, Louisiana, Oklahoma, New Mexico, Arkansas, Kansas, and the Rocky Mountain and Appalachian regions.
Goodrich Petroleum Corp. (NYSE:GDP), enhanced 8.81%, and closed at $3.58, soon after an independent oil and natural gas company, declared that it has planned a conference call on Friday, February 27, 2015, at 11:00 AM, Eastern Time, to talk about its fourth quarter and full year 2014 operations and earnings. The Company plans to issue its fourth quarter and full year 2014 earnings release before the market opens on Friday, February 27, 2015. To access the conference call, domestic participants should dial (888) 317-6003 and international participants should dial (412) 317-6061. The participant passcode is 4968015. A telephonic replay of the conference call will be accessible through March 6, 2015 and will be permanently archived thereafter on the Company’s website at www.goodrichpetroleum.com. Domestic participants accessing the telephonic replay should dial (877) 344-7529 and international participants should dial (412) 317-0088. The participant passcode is 10060409.
Goodrich Petroleum Corp. (NYSE:GDP), an independent oil and natural gas company, is engaged in the exploration, development, and production of oil and natural gas. The company holds interest in the Eagle Ford Shale Trend located in South Texas; the Haynesville Shale and Cotton Valley Taylor Sand in northwest Louisiana and East Texas; and the Tuscaloosa Marine Shale located in southwest Mississippi and southeast Louisiana. It owns working interests in 436 producing oil and natural gas wells located in 44 fields in 8 states.
