Liberty Energy Inc LBRT:NYSE

Last Price$12.76NYSE Closing Price as of 7:00PM ET 6/30/22

Today's Change-0.56(4.20%)
Bid (Size)$9.00 (39)
Ask (Size)$15.55 (31)
Day Low / High$12.56 - 13.25
Volume3.0 M

Sector Update: Energy Stocks Slide After Exxon, Chevron Miss Street Views

1:53PM ET 4/29/2022 MT Newswires
Energy stocks were falling this afternoon, with the NYSE Energy Sector Index dropping 1.1% while the SPDR Energy Select Sector ETF (XLE) was down 0.5%. The Philadelphia Oil-Service Sector index was retreating 1.2% and the Dow Jones US Utilities Index was sliding 1.6%.

West Texas Intermediate crude oil was ahead $1.38 to $106.74 per barrel while global benchmark Brent crude also was gaining $2.10 to $109.69 per barrel. Henry Hub natural gas futures were $0.39 higher at $7.28 per 1 million BTU.

In company news, Liberty Energy (LBRT) fell 6.7% after Friday pricing a secondary offering of 14.5 million class A common shares previously owned by a Schlumberger (SLB) subsidiary. The company did not disclose the per-share price paid by underwriters for the deal, who are expecting to sell the Liberty stock through open-market or negotiated transactions from time to time, according to the preliminary prospectus.

Chevron (CVX) declined 2.4% after lagging Wall Street expectations with its Q1 earnings and the energy major also warning it expects a drop in Q2 production due to turnarounds at its liquefied natural gas facilities in Australia and Angola coupled with a one-month shutdown of the the CPC pipeline in Kazakhstan and the expiration of its Erawan concession in Thailand.

Exxon Mobil (XOM) slid 0.8% after the energy giant reported non-GAAP Q1 net income of $2.07 per share, up from $0.65 during the year-ago period but still trailing the Capital IQ consensus looking for a $2.23 per share profit for the three months ended March 31, excluding one-time items.