Energy Sector Update for 06/19/2017: XOM, CVX, COP, SLB, OXY, RICE, EQT, RDS.A, PEGI

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Top Energy Stocks

XOM: +0.01%

CVX: flat

COP: -0.2%

SLB: +0.2%

OXY: flat

Energy shares were mixed ahead of Monday's open, as crude futures rebounded from heavy losses as the commodity took a breather from fresh supply concerns in the United States, Libya and Nigeria.

Light, sweet crude oil for July delivery was up 0.3% at $44.87 per barrel. In other energy futures, heating oil was up 0.2% at $1.44 per gallon while natural gas was 4.3% lower at $2.93 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 0.3% at $9.27 while the United States Natural Gas ETF ( UNG ) was down 4.4% at $6.53.

In energy stocks news, Rice Energy ( RICE ) soared 28% after the company said it agreed to be bought by EQT ( EQT ) for approximately $6.7 billion, consisting of 0.37 shares of EQT common stock and $5.30 in cash for each Rice stock. EQT will also assume or refinance approximately $1.5 billion of net debt and preferred equity. The transaction is expected to close in Q4. EQT shares were down 5.6%.

In other sector news,

PEGI, (flat) Implements strategic initiatives to increase its renewable energy business and double its portfolio to gigawatts by 2020

RDS.A (flat) Applies for additional listing of shares

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

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Energy
Referenced Symbols: USO , UNG , RICE , EQT , XOM

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