Shares of These 3 Energy Titans are Heavily Active After Earnings

Sunoco Inc. (NYSE:SUN) reported its results for the third quarter. Reported a loss of $1.1 billion ($9.62 per diluted share) in the quarter. The oil and gas refining and marketing company had net income of $65 million or 54 cents per share in the year earlier quarter. Revenue rose 32% to $12.16 billion from the year earlier quarter. SUN reported adjusted net income of 57 cents per share. By that measure, the company fell short of mean estimate of 60 cents per share. It beat the average revenue estimate of $8.62 billion.

“A second straight quarter of record earnings at Sunoco Logistics Partners L.P. and good results in retail were the primary drivers of Sunoco’s profitability from operations in the third quarter. These segments contributed $53 million and $48 million in pretax income, respectively,” said Lynn L. Elsenhans, Sunoco’s chairman and chief executive officer. “Market conditions continue to pose challenges for our refining and supply segment and, while the refineries’ operational performance improved during the third quarter with crude utilization averaging 90 percent, the segment reported another loss. We remain focused on running our assets safely and reliably at economic utilization rates.”

Competitors to Watch: Valero Energy Corporation (NYSE:VLO), Western Refining, Inc. (NYSE:WNR), Alon USA Energy, Inc. (NYSE:ALJ), Holly Corporation (NYSE:HOC), Tesoro Corporation (NYSE:TSO), Delek US Holdings, Inc. (NYSE:DK), Calumet Specialty Products Partners, L.P (NASDAQ:CLMT), Murphy Oil Corporation (NYSE:MUR), CVR Energy, Inc. (NYSE:CVI), and Frontier Oil Corporation (NYSE:FTO).

Chesapeake Energy Corporation (NYSE:CHK) reported net income above Wall Street’s expectations for the third quarter. Net income for Chesapeake Energy Corporation rose to $879 million ($1.23 per share) vs. $467 million (68 cents per share) in the same quarter a year earlier. This marks a rise of 57.5% from the year earlier quarter. CHK reported adjusted net income of 72 cents per share. By that measure, the company beat the mean estimate of 65 cents per share.

Competitors to Watch: Gastar Exploration Ltd. (AMEX:GST), Anadarko Petroleum Corp. (NYSE:APC), Devon Energy Corporation (NYSE:DVN), Bronco Drilling Co., Inc. (NASDAQ:BRNC), EOG Resources, Inc. (NYSE:EOG), Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), Crusader Energy Group Inc. (CKGRQ), Apache Corporation (NYSE:APA), and US Natural Gas Corp. (NYSE:UNG).

Apache Corporation (NYSE:APA) reported higher profit for the third quarter as revenue showed growth. Net income for the independent oil and gas company rose to $1 billion ($2.50 per share) vs. $778.3 million ($2.12 per share) in the same quarter a year earlier. This marks a rise of 28.7% from the year earlier quarter. Revenue rose 43.7% to $4.33 billion from the year earlier quarter. APA reported adjusted net income of $2.95 per share. By that measure, the company beat the mean estimate of $2.82 per share. It beat the average revenue estimate of $4.21 billion.

“Apache had a very productive quarter, both in operations and commercial activity,” said G. Steven Farris, chairman and chief executive officer. “For the sixth consecutive quarter, we achieved record daily production on an equivalent basis. We’ve commenced development of the Balnaves oil field offshore Western Australia. We’ve extended the productive range of our holdings in Egypt’s remote Western Desert with new producers in the Faghur Basin. We continue to drill from the extensive, multiyear inventory of drillable locations we have developed in the Permian, Central, Gulf of Mexico and Canadian regions of North America. Domestically, the recent focus has obviously been on higher-margin oil and liquids-rich opportunities. This operational flexibility is a competitive advantage of Apache’s portfolio model.

Competitors to Watch: EOG Resources, Inc. (NYSE:EOG), Chevron Corporation (NYSE:CVX), EnCana Corporation (NYSE:ECA), Chesapeake Energy Corp. (NYSE:CHK), Stone Energy Corporation (NYSE:SGY), Lucas Energy, Inc. (AMEX:LEI), Concho Resources Inc. (NYSE:CXO), Anadarko Petroleum Corp. (NYSE:APC), Noble Energy, Inc. (NYSE:NBL), and Gulfport Energy Corp. (NASDAQ:GPOR).