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Friday's Energy Stocks: Markets edge lower on weak jobs report

The energy sector followed broader markets to end the day in negative territory, following the release of the latest jobs report on Friday, Oct. 6. According to the latest report of the U.S. Department of Labor, U.S. nonfarm payroll employment decreased by 33,000 in September, and the unemployment rate declined to 4.2% from 4.4% in the previous month.

The Dow Jones Industrial Average declined 0.01% to 22,773.67, and the S&P 500 slipped 0.11% to end the week at 2,549.33. The SNL Energy Index fell 0.18% to 290.38.

Atlantica Yield plc gained 0.93% on strong volume to finish at $20.61, following a report saying that Brookfield Asset Management Inc. is in talks to acquire a minority stake in Atlantica Yield which could lead to a deal within weeks.

Among other yieldcos, TerraForm Power Inc climbed 4.92% in active trading to close at $13.23, TerraForm Global Inc. declined 2.02% in weak trading to end at $4.85 and NRG Yield Inc. rose 0.27% on slim volume to settle at $18.85.

Vistra Energy Corp. shares retreated 1.73% on more than three times the average volume to close at $18.79, after its subsidiary Luminant Generation Co. LLC announced that it will retire its 1,800-MW Monticello coal-fired power plant in Titus County, Texas, by January 2018.

The SNL Merchant Generator Index receded 0.10% to 101.02.

Southern California Gas Co. is investigating the cause of a gas transmission line explosion and fire that reportedly set the surrounding five acres ablaze. Its parent company, Sempra Energy, slid 0.06% in brisk trading to finish at $111.95.

Continental Resources Inc. shares slid 3.49% on below-average volume to settle at $36.55. The company closed the sale of 26,000 net acres and interest in more than 400 producing wells in the Arkoma Basin to Corterra Energy LLC for $68 million.

Carrizo Oil & Gas Inc. shed 2.21% in normal trading volume to end at $16.82, after agreeing to sell its Marcellus Shale assets to a subsidiary of Kalnin Ventures LLC for $84 million.

The SNL Midstream Energy Index lost 0.23% to 112.70.

NYMEX November natural gas traded lower Friday, Oct. 6, even as Tropical Storm Nate continued to head toward the Gulf of Mexico and U.S. oil and natural gas production interests. Despite the anticipation of Nate hitting the key producing area as a Category 1 hurricane late Saturday or early Sunday, cooler weather in the central and eastern U.S. associated with the storm put pressure on values.

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