3 Energy Stocks Making Big Moves This Week
-
Upload
the-motley-fool -
Category
Economy & Finance
-
view
2.332 -
download
4
Transcript of 3 Energy Stocks Making Big Moves This Week
3 Energy Stocks Making Big Moves This Week
This week was a quiet one for the energy sector as there wasn’t a whole lot of news.
However, that didn’t stop some energy stocks from making big
moves this week.
Here’s a closer look at the three energy stocks that made some of the biggest moves this week.
Photo credit: TaxCredits.net
What:This week wasn’t a good one for investors in coal and natural gas producer
CONSOL Energy (NYSE: CNX), which dropped nearly 10% this week.
So What: Key driver: A combination
of factors sent CONSOL Energy’s stock down this week
Natural gas and coal prices weakened
This caused the company’s bonds to trade lower
Now What: The coal market continues
to look bleak, which is impacting all coal stocks
Key takeaway: The weak coal market has investors worried about coal company debt, which is why CONSOL’s debt is falling, and taking its stock price down with it
What:Joining CONSOL in heading lower was offshore driller Seadrill (NYSE: SDRL),
which slumped 14% this week.
So What: Key driver: Seadrill
reported first-quarter results on Thursday
Revenue: $1.24 billion (up 1.6% year-over-year)
EPS: $0.86 (beat by $0.23 per share)
Now What: First-quarter results were as
good as could be expected considering the downturn in the market
What investors didn’t like was the outlook, which remains challenged into 2016
Key takeaway: The weak outlook give no hint when conditions might improve
What:On a much more positive note, shares of McDermott (NYSE: MDR) surged more
than 14% this week.
So What: Key driver: McDermott
was awarded a large contract by Saudi Aramco
Company to build and install 12 jackets for offshore oil and gas fields in Saudi Arabian waters
Work is scheduled to be complete by early 2016
Now What: This is the second
contract McDermott has been awarded with Saudi Aramco this year
Key takeaway: In a time when few oil projects are moving forward, McDermott is winning key awards
This $19 trillion industry could destroy the InternetOne bleeding-edge technology is about to put the World Wide Web to bed. And if you act right away, it could make you wildly rich. Experts are calling it
the single largest business opportunity in the history of capitalism... The Economist is calling it "transformative"... But you'll probably just call it "how
I made my millions." Don't be too late to the party -- click below for one stock to own when the Web goes dark.