Energy Sector Update for 06/16/2017: WMB,HOS,HES,XOM,CEO

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Top Energy Stocks

XOM +1.5%

CVX +1.7%

COP +1.7%

SLB +1.6%

OXY +3.9%

Energy stocks continued their rebound this afternoon following two prior sessions of steep losses, with the NYSE Energy Sector Index rising nearly 1.4% today while shares of energy companies in the S&P 500 were up almost 1.2% as a group. Crude oil for July delivery settled 28 cents higher at $44.74 per barrel while July natural gas futures fell 2 cents to $3.04 per 1 million BTU.

In company news, shares of the Williams Companies ( WMB ) climbed nearly 3% on Friday, topping out today at $29.14 apiece, after CEO Alan Armstrong yesterday acquired another 15,000 shares of the natural gas pipeline and infrastructure company.

Armstrong paid $28.60 each for the shares - or $400,000, overall - and boosting his direct stake in the company to 345,527 shares. He also has indirect control of another 34,264 shares held through a trust.

In other sector news,

(+) HOS, Refinances existing $200 mln, senior secured revolving credit facility, securing $100 million in additional borrowing capacity through a new first-lien, delayed-draw credit facility and extending maturity date by over three years to June 2023. Eliminates all loan covenants.

(-) HES, ExxonMobil ( XOM ) Begins work on $4.4 bln development of Liza field offshore Guyana after receiving regulatory nods from national and local authorities. Exxon owns a 45% share of the project while Hess ( HES ) holds 30% and CNOOC Ltd ( CEO ) has the remaining 25% stake.

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: WMB , XOM , HES , CEO , HOS

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