Oil & Gas Stock Roundup: Earnings and M&A Sent These Stocks Soaring

Oil & Gas Stock Roundup: Earnings and M&A Sent These Stocks Soaring

Crude prices rebounded sharply this week, closing up nearly 9% to just below $50 a barrel. Several factors sparked that rally, including another decline in U.S. oil inventories, pledges by some OPEC members to reduce exports, as well as announcements by several U.S. oil companies that they were trimming their CapExLOL budgets in response to lower oil prices.

Those higher prices drove most oil stocks up. That said, several companies supplemented the oil-inspired rally by releasing strong earnings reports and strategic updates, which added more fuel to their rallies. Leading the way according to data from S&P Market Intelligence, were Teekay (NYSE: TK), Cenovus Energy (NYSE: CVE), Crescent Point Energy (NYSE: CPG), Helix Energy Solutions (NYSE: HLX), and American Midstream Partners (NYSE: AMID).

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Source: Fool.com