Energy Stocks Losses Piling Up Near Close; Core Lab Slides Despite 56% Increase in Quarterly Dividend

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Top Energy Stocks

XOM -2.04%

CVX -1.52%

COP -1.79%

SLB -0.95%

OXY -2.45%

Energy stocks are mostly lower today with the NYSE Energy Sector Index sinking 1.7% while shares of energy companies in the S&P 500 are sliding 2.1% as a group.

In company news, Core Labs ( CLB ) was lower in late Monday trading, with shares unable to gain much traction today despite the oilfield services company today increasing its quarterly dividend by 56.25% to $0.50 per share, payable Feb. 21 to shareholders of record on Jan. 24.

CLB shares were down about 0.3% at $187.71 shortly before the closing the bell, or about mid-way through its Monday range of $186.06 to $188.95 a share. The stock has a 52-week range of $109.11 to $200.00 a share.

In other sector news,

(+) TGS, Moody's reaffirms its B3 and A2 ratings for the natural gas pipeline company's senior unsecured bond ratings following its $374 mln exchange offer for its 7.875% notes due 2017. Rating outlook also was raised to Stable from Negative.

(-) LPI, Launches $350 mln private placement of senior notes due 2022, with proceeds used for general working capital purposes. Moody's today upgraded the oil & gas firm's senior unsecured rating to B2 from B3.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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