Quantcast

Energy Sector Update for 12/06/2017: PBR,NEP,NEE,PXS


Shutterstock photo

Top Energy Stocks

XOM -0.74%

CVX -0.48%

COP -1.62%

SLB -2.29%

OXY -1.19%

Energy stocks plunged today, with the NYSE Energy Sector Index sinking nearly 1.3% while shares of energy companies in the S&P 500 were down over 1.3% as a group. Crude oil for January delivery settled $1.66 lower at $55.96 per barrel following a bearish weekly inventory report by the Energy Information Agency while January natural gas futures rose 1 cent, reversing an earlier decline, at $2.92 per 1 million BTU.

In company news, American depository shares of Petroleo Brasileiro SA ( PBR ) were higher in late Wednesday trade, reaching a session high today of $10.04 per ADS, following reports the Brazilian energy major better known as Petrobras will receive around $201 million in recovery funds from Brazil's biggest-ever corruption probe, Reuters reported, citing the federal prosecutors' office for the state of Parana Tuesday.

The BRL650-million recovery, which is slated for formal delivery tomorrow, marks the largest single payment resulting from a graft probe in Brazilian history, the prosecutors were quoted as saying.

In other sector news,

(+) NEP, Chief financial officer John Ketchum this morning takes part in a panel discussion at the Morgan Stanley Energy & Clean Tech Corporate Access Days conference in New York.

(-) PXS, Signs $4.8 mln securities purchase agreement with a group of investors, issuing 2.4 mln shares of its common stock at $2 apiece. Net proceeds will be used for debt repayment and other general corporate purposes.

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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Energy
Referenced Symbols: PBR , NEP , NEE , PXS


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities








Research Brokers before you trade

Want to trade FX?





Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com