Top Energy Stocks
Energy stocks are lower this afternoon with the NYSE Energy
Sector Index falling 0.8% and the S&P Energy Index slipping
about 1.2%. Crude oil for November delivery is down 30 cents at
$91.77 a barrel. November natural gas is down 3 cents at $3.58 per
1 million BTU.
In company news, shares of LINN Energy LLC (
) are up about 1.5% today after an initial public offering by
LinnCo LLC (
) at $36.50 a share. LINE sold all of its 30.3 million outstanding
shares in the offering at the low-end of its expected range. The
deal raised $1.1 billion, which LNCO will use to purchase a 13.2%
stake in its former corporate parent, becoming LINE's largest
individual shareholder. At last look, LNCO shares were up about
3.2% at $37.65.
LINE plans to use its proceeds from the stock sale to repay
In other sector news,
(+) FST, (+0.3%) Signs definitive agreement to sell all of its
properties in South Louisiana for approximately $220 million.
(+) LPI, (+0.6%) Prices secondary public offering of 12.5
million shares of common stock at $20.25 apiece.
(-) GAS, (-1.6%) Cuts its FY12 EPS estimate to $2.60 to $2.75,
down $0.20 a share from its prior guidance, citing "unprecedented
warm weather." The Street is at $2.67 a share.
(-) KOG, (-0.7%) Starts $800-million offering to exchange all of
its outstanding 8.125% senior notes due 2019 for an equal amount of
new 8.125% Senior Notes due 2019.
(-) GPOR, (-3.1%) Completes the contribution of all of its oil
and gas interests in the Permian Basin to Diamondback Energy,
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.