XTO Energy Stock Jumps On Strong Quarter

Separately, data released by the Energy Department Wednesday indicated that for the week ended May 1, crude inventories rose by 600,000 barrels to 375.3 million barrels, well below analysts expectation of a 2.2 million-barrel increase, according to a survey by Platts, the energy information unit of McGraw-Hill Cos.

Optimistic news pushed shares higher throughout the oil-and-gas sector Wednesday, as several companies reported earnings that surpassed expectations, including Devon Energy(DVN Quote), whose stock price jumped 12%, and Transocean(RIG Quote), which rose 3.5%. Shares of Occidental Petroleum(OXY Quote), meanwhile, had climbed 6.6% and EnCana(ECA Quote) 3.9%.