FYI: Sector comments Copy from TDWBDI 03:46 PM EST, 11/10/2022 (MT Newswires) -- Energy stocks added moderately to earlier gains Friday, with the NYSE Energy Sector Index and the SPDR Energy Select Sector ETF (XLE) both rising about 1.8%. The Philadelphia Oil-Service Sector index also was posting a 1.7% advance and the Dow Jones US Utilities Index was climbing 4.5%.
West Texas Intermediate crude oil settled $0.64 higher at $86.47 per barrel.
In company news, Crescent Energy (CRGY) was 1.6% higher late in Thursday trading after the oil and natural gas producer reported a $2.74 per share profit for its Q3 ended Sept. 30 on $865 million in revenue, topping the three-analyst consensus view looking for net income of $0.89 per share on $666.3 million in revenue.
GeoPark (GPRK) added 1.5% after the South American exploration and production company beat a lone analyst's estimate with improved Q3 earnings and revenue and authorized the repurchase of up to 10% of its outstanding stock through the end of 2023.
Bloom Energy (BE) gained over 19% after Thursday saying it was partnering with Italian engineering and construction company Cefla to deploy "multiple" megawatts of its solid oxide fuel cells throughout Italy over the next three years. The financial terms of the alliance were not disclosed.
Among decliners, Vermilion Energy (VET) slid 9.2% after the Canadian oil and natural gas producer reported a Q3 net income of $1.65 per share, reversing a $0.91 per share net loss during the year-ago period but still trailing the Capital IQ consensus expecting a $1.81 per share profit for the three months ended Sept. 30.