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Friday's Energy Stocks: Blue chips ride another up-and-down day

After seesawing during the Friday, Dec. 28, session, broader markets closed with small losses. Energy benchmarks also ended the week largely in the red.

The Dow Jones Industrial Average lost 0.33% to close the week at 23,062.40, and the S&P 500 retreated 0.12% to 2,485.74.

In oil and gas sector, Switzerland-based driller Transocean Ltd.'s shares jumped 4.47% to reach $7.01 in robust trading after it signed a rig design and construction management contract and a five-year drilling contract with Chevron Corp.'s Chevron U.S.A. Inc. for one of its two dynamically positioned ultra-deepwater drillships. Chevron stock decreased 0.61% to $108.65 on below-average volume.

Enbridge Inc.'s stock on the Toronto Stock Exchange advanced 1.91% to wrap an average session at C$42.16, and shares listed on the New York Stock Exchange hiked 1.68% to $30.91 on heavy volume. The company will receive a refund of C$14.7 million in fees paid to Canada's federal regulators for the suspended Northern Gateway oil sands pipeline project.

Oil and gas major Royal Dutch Shell PLC saw its class A shares go up 0.54% to $58.11 in average trading and class B stock grow 1.02% to $59.48 on active volume. The company completed the sale of its shares in Shell entities in New Zealand to OMV New Zealand Ltd., a subsidiary of Austrian integrated oil and gas company OMV AG, for $578 million.

Encana Corp. completed its sale of noncore assets in New Mexico's San Juan Basin to private upstream company DJR Energy LLC through subsidiary Encana Oil & Gas (USA) Inc. The Calgary-headquartered Encana saw its shares inch down 0.38% to C$7.94 on about average volume.

Andeavor Logistics LP units were down 2.00% to $32.27 in brisk trading. The partnership entered into a loan agreement with parent company Marathon Petroleum Corp. for up to $500 million. Marathon Petroleum stock skidded 1.46% to close a light session at $58.24.

Anadarko Petroleum Corp. stock slid 1.75% to $43.20 on thin volume. The company amended its five-year credit agreement to extend its revolver's maturity date to Jan. 23, 2023, from Jan. 23, 2022.

Among major losers in the sector, Range Resources Corp. shed 5.40% to finish heavy session at $9.64; Cabot Oil & Gas Corp. saw its equity lose 3.45% to close an average outing at $22.95; and EQT Corp. stock declined 3.23% to $19.19 in light trading.

Outsmarting the broader trend were NGL Energy Partners LP and TC PipeLines LP. NGL Energy shares jumped 4.77% to $9.44 on average volume, and TC Pipelines stock climbed 4.42% to $30.49 on solid volume.

The S&P 500 Energy Index gave up 0.89% to 422.16, and the Alerian MLP Index decreased 0.37% to 219.43.

Among electric and diversified utilities, Canadian renewable energy developer Innergex Renewable Energy Inc.'s stock rose 2.63% to C$12.48 on below-average volume. S&P Global Ratings has revised its outlook on Innergex Renewable to negative from stable, based on the company's weak financial metrics in 2018, and affirmed its 'BBB-' long-term issuer credit rating.

Brookfield Renewable Partners LP's shares gained 1.43% to close slow session at C$34.85. The TSX accepted the company's renewal of its normal course issuer bid for its limited partnership units.

After some down days, MGE Energy Inc. picked up 3.31% to $59.65 in more than double average volume. Otter Tail Corp. shares were up 2.38% to $49.53 in above-average trading.

The S&P 500 Utilities Index closed Friday session more or less unchanged at 268.09.

The original S&P Global Ratings documents referred to in this news article can be found here.

Market prices and index values are current as of the time of publication and are subject to change.