A 15% rally in Rosetta Resources (NasdaqGS: ROSE) on Monday boosted exchange traded funds that invest in energy exploration and production stocks after the company was out with quarterly results.
Rosetta after Friday’s closing bell said its first-quarter net income rose from the year-ago period.
The quarterly results “spoke to the company’s continued drilling success in the Eagle Ford Shale resulting in the company increasing its production guidance,” said analysts at BMO Capital Markets in a report.
“Increased production on same dollar invested is a development not commonly observed this earnings season,” they said of the oil and gas company.
Rosetta is a stock holding in Jefferies TR/J CRB WildcattersExploration & Production Equity ETF (NYSEArca: WCAT), SPDR S&P Oil & Gas Exploration & Production (NYSEArca: XOP) and iShares Dow Jones U.S. Oil & Gas Exploration & Production (NYSEArca: IEO).
SPDR S&P Oil & Gas Exploration
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