Top Energy Stocks
Energy stocks were extending their big advance on Thursday, with the NYSE Energy Sector Index rising about 2.1% while shares of energy companies in the S&P 500 were up about 2.0% as a group. Crude oil for January delivery was up $2.15 at $51.62 per barrel while January natural gas futures were 15 cents higher at $3.50 per 1 million BTU.
In company news, FutureFuel Corp ( FF ) jumped to a 13-month high during Thursday trading after the bio-diesel producer late yesterday declared a special cash dividend of $2.29 per share, payable Jan. 13 to shareholders of record on Dec. 16.
The company also said it was extending its regular quarterly distributions of $0.06 per share for another year, payable two weeks later to shareholders of record on March 1, June 1, Sept. 1 and Dec. 1, 2017.
FF shares were up more than 8% at $14.84 each, earlier reaching their best price since the first week of November 2015 at $14.98 a share.
In other sector news,
(+) PACD, (+10.7%) Signs drilling-services contract with Hyperdynamics ( HDYN ) beginning Q2 next year offshore the Republic of New Guinea for the Pacific Bora drillrig now located in western Africa after recently completing a project for a major U.S. exploration and production company.
(-) MEMP, (-48.2%) Negotiates forbearance agreement through Dec. 7 with the holders of 51.7% of the company's 7.625% senior notes due 2021 and 69% of the holders of its 6.875% senior notes due 2022. Lenders for the company's revolving credit facility also accept forbearance agreement lasting until Dec. 16.