Oil Indices Are Up (SLB, XOM, XTO)

Oil services shares have showed an uptick in early trading today. The NYSE Arca Oil Index is up by 1.76% and The NYSE Arca Natural Gas Index has increased by 1.97%. The Philadelphia Oil Service Index has jumped by 3.8%.

Schlumberger (NYSE: SLB) posted a 28% decline in its quarterly profits but has maintained an optimistic outlook for the remaining year. Its shares are up by 4.37% and are currently trading at $72.59.

Exxon (NYSE: XOM) shares have received a ‘sector perform’ rating from RBC Capital Markets. The company has been given a price target of $80. RBC Capital has further stated that despite a constant decline in upstream production volumes, Exxon (XOM) should grow internally due to its pending acquisition of XTO Energy (NYSE: XTO).