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Thursday's Energy Stocks: Murphy Oil down, Viper Energy up on earnings results

U.S. equities closed in the red on Thursday, Aug. 9, while most energy indexes increased as investors weigh in stronger earnings results.

The Dow Jones Industrial Average lost 0.29% to close at 25,509.23, and the S&P 500 decreased 0.14% to 2,853.58.

In the oil and gas exploration sector, Murphy Oil Corp. shares dropped 7.23% to $30.16 at end of a robust session after the company posted adjusted net income for the second quarter of $63.1 million, or 36 cents per share, compared to a loss of $19.1 million, or 11 cents per share, in the prior-year period.

Diamondback Energy Inc. stock shed 1.97% to wrap an active session at $131.15, while its subsidiary, Viper Energy Partners LP saw its share price rise 6.09% to close at $38.13 on high volume after reporting their respective second-quarter financial results.

Diamondback Energy's adjusted net income for the recent quarter was $158.0 million, or $1.59 per share, compared to $137.4 million, or $1.40 per share, in the prior-year period. Viper Energy's second-quarter GAAP net income was $99.4 million, much higher than the $22.1 million posted during the same period in 2017.

Cheniere Energy Inc. shares climbed 3.77% to $62.68 on above-average volume. Company executives said tariffs on U.S. LNG cargoes in a brewing U.S.-China trade war will not affect Cheniere's long-term contracts with Petrochina Company Ltd.

Targa Resources Corp. stock slid 1.24% on heavy volume to $52.52 after the company announced second-quarter adjusted EBITDA of $326.0 million, up from $257.9 million in the prior-year period.

Keyera Corp. shares jumped up 1.01% to C$37.87 on strong volume on the Toronto Stock Exchange after the company raised its monthly cash dividend by about 7% to 15 Canadian cents per common share, or C$1.80 per common share annually.

The S&P 500 Energy Index retreated 0.89% to close at 552.70, while the Alerian MLP Index grew 0.97% to 291.06.

In the merchant power generation sector, Northland Power Inc. shares lost 3.32% to close at C$22.74 on more than twice the average volume on the Toronto Stock Exchange after the company reported second-quarter 2018 adjusted EBITDA of C$183.0 million, compared to C$168.2 million in the same quarter last year.

In the renewables business, geothermal energy developer Ormat Technologies Inc.'s shares spiked 7.87% to close at $53.58, and TerraForm Power Inc. stock gained 2.19% to close at $10.75, both on solid volumes.

Pattern Energy Group Inc. reported adjusted EBITDA of $108.4 million in the second quarter, up from $91.9 million in the prior-year period. Its shares were up 2.93%, reaching $18.62 on active volume.

Among electric and diversified utilities Evergy Inc.'s stock moved up 1.15% to close at $57.02 on light trading after the newly formed enterprise reported second-quarter earnings of $102 million, or 56 cents per share, compared with Westar Energy Inc.'s earnings of $72 million, or 50 cents per share, a year ago. Westar and Great Plains Energy Inc. merged together in June to form Evergy.

Evergy's financial results include Westar's earnings for the full period and Great Plains utilities Kansas City Power & Light Co. and KCP&L Greater Missouri Operations Co. earnings starting June 2018.

Chesapeake Utilities Corp. shares slipped 3.05% to close at $81.00 on thin volume after the company posted adjusted net income of $7.8 million, or 48 cents per share, for the second quarter, less than the S&P Global Market Intelligence consensus normalized EPS estimate for the second quarter was 51 cents.

The S&P 500 Utilities Index added 0.41% to 269.44.

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