Energy Stocks, Crude Oil in Deep Skids Today; China Petroleum & Chemical Slips As Announces Offering

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Top Energy Stocks

XOM -0.9%

CVX -0.9%

COP -1.1%

SLB -0.13%

OXY +0.7%

Energy stocks are broadly lower with the NYSE Energy Sector Index sliding nearly 1.5% and the S&P Energy Index falling about 0.8%. Crude oil for March delivery is down $1.13 to $96.64 per barrel. March natural gas is up 5 cents at $3.35 per 1 million BTU.

In company news, China Petroleum & Chemical Corp. ( SNP ) ADRs are down over 7% with the oil and gas company announcing plans to place 2.845 million of its H Series shares at HKD8.45 apiece. SNP intends to use net proceeds from the offering for general corporate purposes. The deal is expected to close Feb. 14.

In other sector news,

(-) PBR, (-2.9%) Two oil and gas platforms under construction at a Brazilian shipyard collided on Saturday after high winds dislodged their moorings.

(-) SD, (-4%) Cut Neutral from Buy at Ladenburg Thalman. Price target also lowered by $3 to $7 a share.



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

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: SNP

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