Energy Stocks Make Come Back Thanks to HAL & EP
Oil stocks haven’t been looking too hot these last few days, but luckily they started that upward trend again. Thanks to a few specific companies starting it all, Steve Gelsi gives us all the numbers.
" El Paso Corp. EP +0.40% jumped 6.7% to $20.25 after the company said it would spin off its exploration and production business and retain its pipeline units in a move to become two publicly-traded companies…
…Checking the broad energy indexes, the NYSE Arca Oil Index XOI +1.34% rose 1.2% to 1,285. The NYSE Arca Natural Gas Index XNG +1.13% rose 1.2% to 673. The Philadelphia Oil Service Index OSX +1.13% added 1% to 262.
Lending support to the sector, shares of Halliburton HAL -0.02% rose 2.4%; Consol Energy Inc. CNX +0.16% rose 1.2%, QEP Resources QEP +0.00% rose 0.4%, and Nabors Industries NBR -0.59% rose 1.9%. Murphy Oil Corp. MUR +0.26% rose 2.2% and Occidental PetroleumOXY +0.39% rose 3.2%."
Read the entire article here: http://www.marketwatch.com/story/el-paso-halliburton-help-energy-stocks-snap-back-2011-05-24?siteid=yhoof