Energy Sector Update for 03/17/2017: FF, WLB,EGY,MCF

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Energy stocks were moderately higher Friday, with the NYSE Energy Sector Index rising about 0.3% while shares of energy companies in the S&P 500 were up only 0.1% as a group. Crude oil for April delivery was little changed this afternoon, slipping a penny to $48.74 per barrel while April natural gas futures were 5 cents higher at $2.95 per 1 million BTU.

In company news, FutureFuel ( FF ) advanced Friday after the biodiesel producer last night said its Q4 revenue more than doubled from year-ago levels and also disclosed paying a special cash dividend to shareholders in January.

On a GAAP basis, FutureFuel earned $0.43 per share during the three months ended Dec. 31, declining from $0.68 per share during the same period last year, while revenue jumped 104.8% over year-ago levels to $69.4 million.

In addition to authorizing regular quarterly dividends of $0.06 per share throughout 2017, the company also paid a special cash dividend of $2.29 a share on Jan. 13.

FF shares were up almost 9% at $14.44 each in recent trade, earlier climbing to a session high of $14.67 a share.

In other sector news,

(+) EGY, (+3.1%) International Finance Corp. approves company request to borrow about $4.2 mln, helping increase its financial flexibility and facilitating its corporate strategy.

(-) MCF, (-2.3%) RBC Capital Markets reduces price target by $1 to $13 a share, reiterating its Outperform rating.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Energy
Referenced Symbols: FF , WLB , EGY , MCF

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