Energy Stocks Mostly Lower in Mid-Day Trading; Crude Oil Slips Under $90 A Barrel

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XOM -0.8%

CVX -1%

COP -1.3%

SLB -1.3%

OXY -1.8%

Energy stocks are lower this afternoon with the NYSE Energy Sector Index sliding about 0.5% and the S&P Energy Index falling about 0.6%. Crude oil for November delivery is down 67 cents at $89.45 a barrel. November natural gas is down 5 cents at $3.57 per 1 million BTU.

In company news, Peabody Energy ( BTU ) is up more than 10% but off day highs after the coal miner earlier today reported adjusted Q3 earnings of $0.51 a share on $2.06 billion in revenue. That beat analyst expectations calling for a $0.34 a share profit and $1.97 billion in revenue.

In other sector news,

(+/-) HK, (now flat, has lost strong earlier gains) Acquiring producing and undeveloped oil and gas assets in the Williston Basin from Petro-Hunt LLC and an affiliated entity for $1.45 billion in cash and stock. Canada Pension Plan Investment Board also agrees to buy $300 million of HK common stock at $7.16 a share.

(-) BP, (-1.5%) Inks $17.1-billion cash deal selling its TNK-BP 50% stake to Rosneft. Dea5 also includes BP buying 12.84% Rosneft stake.

(-) NXY, (-5.5%) Canada's government late Friday blocks $5.22 billion bid for Progress Energy Resources Corp (PRQ.TO) by Malaysian state oil company Petronas, a surprise ruling seen as having huge implications for China's state-owned CNOOC ( CEO ) proposed buyout of NXY.

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
Referenced Symbols: BTU , CEO

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