9-17-13 4:57 PM EDT | Email Article

By Claudia Assis, MarketWatch


SAN FRANCISCO (MarketWatch) -- Energy stocks rose on Tuesday as U.S. equities got a boost from news Microsoft Corp. raised its dividend by more than 20% and set a share buyback plan.


The S&P 500 Index closed at six-week highs. Investors also awaited the outcome of the U.S. Federal Reserve two-day policy meeting that started on Tuesday. For more energy news, check out the Energy Ticker blog.


A policy announcement is scheduled for Wednesday at 2 p.m. Eastern. A press conference with Fed Chairman Ben Bernanke will follow.


Natural-gas producer Chesapeake Energy Corp. (CHK) led energy stocks in the S&P, up 2.4%.


Chesapeake Chief Executive Doug Lawler sent a memo to employees Tuesday alluding to more layoffs at the natural-gas producer.


Several employees have lost their jobs in recent weeks, and Lawler said a company review is to be concluded Nov 1.


Cabot Oil & Gas Corp. (COG) and coal producer Consol Energy Inc. (CNX) gained 1.6% each.


Apache Corp. (APA) shares rose 1.4%. Analysts at Oppenheimer upgraded Apache stock to outperform from perform, citing "reduced risk" in Egypt, higher oil prices and lower debt.


The analysts had been among the main critics of Apache's presence in the North African country. Apache in late August sold a 33% interest in its Egyptian operations to China's Sinopec for $3.1 billion.


Oppenheimer said additional sales could boost the company's valuation.


Major oil companies also rose, with shares of Exxon Mobil Corp. (XOM) up 0.3%. Chevron Corp. (CVX) shares rose 0.2%, while shares of ConocoPhillips (COP) advanced 0.5%.


Lithuania's environment ministry on Monday approved a bid by Chevron to explore for shale gas. Lithuania's government has to make a final decision. Officials have said Lithuania could have between 30 billion to 50 billion cubic meters of extractable shale gas reserves. Russia's Gazprom OAO is Lithuania's sole natural gas supplier.


A handful of energy stocks traded in the red Tuesday, with refiners Phillips 66 (PSX) and Marathon Petroleum Corp. (MPC) among the hardest hit. Shares of Phillips 66 declined 1.4%, while shares of Marathon Petroleum declined 1.1%.


The SPDR Energy Select Sector (XLE), an exchange-traded fund focused on energy names, rose 0.5%.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com


Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

09-17-13 1657ET

Copyright (c) 2013 Dow Jones & Company, Inc.
Copyright 2014 MarketWatch
Add a Comment

News   More...

Start Premium Trial Register For Free

P F Fund Financial Data (13,000+ funds)
P F Stock Financial Data (7,000+ stocks)
P F Stock and Fund Screeners (basic)
P F Investing Articles and Market Commentary
P F Articles Archive (>30 days)
P F Discuss (dozens of stock, fund, bond, and general bulletin boards)
P F Portfolio Manager (basic)
P F Morningstar Investment Classroom
P F Access Your Portfolio Anytime, Anywhere via Your Mobile Device
P   Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)
P   Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)
P   Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)
P   Portfolio Monitor (monthly and on-demand personalized portfolio statements)
P   Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)
P   Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters
P   Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)
P   Discounts on Morningstar newsletters, books, seminars, and more

Sign-up to Morningstar

Basic Access

Articles and Videos
Morningstar video reports, articles, data, and tools. Dig into our lineup of e-newsletters and investing classroom courses outlining sensible strategies for maximizing your investments.
Morningstar Discuss
Follow the buzz on individual stocks or fund families. Plus, read the latest posts from Morningstar members and analysts.
Portfolio Manager
Track your investments and watch lists with our Portfolio Manager. Customize your view with our comprehensive stock, fund, and ETF data.

Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.

Unlimited Access

Analyst Research
Gather in-depth, actionable insight on over 3,700 stock and mutual funds covered by Morningstar analysts. View our mutual fund Analyst Reports favored by professionals, savvy experienced investors, and new investors researching options for retirement savings, college plans, or other investment needs.
Portfolio X-Ray®
Ensure your portfolio is positioned exactly how you want with Morningstar's X-Ray Interpreter and Stock Intersection tools. A Barron's "Best of the Web" award winner for five years running, X-Ray Interpreter goes under the hood of your portfolio to provide a useful allocation, sector, and geographic analysis. And you can discover how much of a stock you really own, individually and through mutual funds, with Stock Intersection.
Investment Picks
Find new 5-star stocks (greatly undervalued companies) to consider daily. Our 5-star stock rating is a proven winner, consistently beating benchmarks like the S&P 500. Plus, browse our Fund Analyst Picks and Stewardship Grades to find shareholder-friendly mutual funds that are poised for outperformance.
Portfolio Monitor
Get a clear view of your investments with personalized reports about your portfolio. Receive monthly statements and generate reports on-demand to help you stay on track to meet your investment goals.

Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.

Content Partners
Morningstar - - UPDATE: Chesapeake Energy leads energy stocks higher
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

Previous: UPDATE: Chegg prices IPO above range at $12.50  |  Next: UPDATE: Chesapeake rises premarket on third-quarter profit