Top Energy Stocks
OXY -0.5%, nearer to year lows
Energy stocks are moderately higher today with the NYSE Energy
Sector Index rising about 0.1% and the S&P Energy Index
climbing about 0.4%. Crude oil for December delivery is up 16 cents
at $85.20 a barrel. December natural gas is flat at $3.58 per 1
In company news, Equal Energy (
) is up 13.5% but off day highs after closing an agreement with
another Canadian energy company with EQU selling its Lochend
Cardium assets for $62 million in cash, effective Oct. 1.
The predominantly light oil assets include current production of
approximately 525 barrels of oil equivalent per day, based on the
most recent 30 day average, as well as related infrastructure and
In other sector news,
(+) LPH, (+9.6% to year high levels) Q1 product sales volume
rises 17.8% to 110,587 metric tons. Forecasts 26.6% revenue growth
and 24.3% net income growth in FY13 over year-ago levels.
(+) RIG , (+4%) Earns $1.37 a share in Q3, beating estimates by
$0.61 a share but $2.44 billion of revenues trail the analyst
consensus by about $90 million.
(+) HES, (+1.3%) Upgraded to Buy from Hold at Global Hunter
Securities. Price target raised by $12 to $65 a share.
(+) EPB, (+0.7%) (
) Raised to Buy from Neutral at Goldman Sachs. Price target also
boosted to $45 from $43 a share.
(+) TRP, (+0.1%) Awarded contract to build, own and operate the
El Oro-to-Mazatlan Pipeline in Mexico. TRP will invest about $400
million in the project.