Top Energy Stocks
Energy stocks were lower, with the NYSE Energy Sector Index
sinking about 0.6% while shares of energy companies in the S&P
500 also were down about 0.6% as a group. Crude oil for March
delivery is up 54 cents at $100.42 per barrel while March natural
gas is down 18 cents at $4.59 per 1 million BTU.
In company news, James River Coal (
) surged nearly 11% in recent trade Monday after the miner late
Friday said it was evaluating its strategic alternatives, including
a potential sale of all or part of the company.
The company hired Perella Weinberg Partners LP to assist with
the review as its restructuring advisor along with Deutsche Bank
Securities Inc. as an advisor on mergers and acquisitions as well
as a possible capital investment through a offering of debt or
In a move also connected with the strategic review, JRCC
reworked its revolving credit agreement to provide continued access
to the credit facility during the review process.
Shares rose as much as 21.6%, touching 90 cents apiece and were
up about 10.8% at 82 cents a share in recent trade. The stock has a
52-week range of 55 cents to $3.50 a share.
In other sector news,
(-) NTI, (-2.5%) Boosts Q4 cash distribution by 32% over the
previous quarter to $0.41 per unit, payable Feb. 28 to shareholders
of record on Feb. 21.
(-) BWP, (-40.8%) EPS of $0.08 trails estimates by $0.22 per
share. Also trails year-ago profit 0f $0.38 per share. Revenue
declines 3.9% to $312.9 mln, missing by $10.1 mln. Reduces Q4
distribution by 81% to $0.10 per share. Cut to Underform from
Neutral at Credit Suisse. Deutsche Bank reduces its rating to Sell