Energy stocks were falling Tuesday afternoon, with the NYSE Energy Sector Index shedding 0.9% and the Energy Select Sector SPDR Fund (XLE) dropping 1.1%.
The Philadelphia Oil Service Sector index retreated 1.2%, and the Dow Jones US Utilities index fell 1.3%.
Front-month West Texas Intermediate crude oil was rising 0.4% to $66.29 a barrel while the global benchmark Brent crude contract was advancing 0.5% to $69.60 a barrel. Henry Hub natural gas futures were 1% lower at $4.45 per 1 million BTU.
In corporate news, TXNM Energy (TXNM) is considering a sale after getting takeover interest from a potential buyer, Bloomberg reported Monday. TXNM shares jumped past 6%.
HighPeak Energy (HPK) shares fell 4.2% after the company overnight reported lower Q4 net income and operating revenue that also missed analysts' expectations.
Archrock (AROC) has agreed to buy Natural Gas Compression Systems and NGCSE in a cash-and-stock deal valued at about $357 million, the companies said. Archrock shares jumped past 5%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.