Energy Stocks Retreating; Clean Energy Fuels Tanks After Piper Jaffray Labels Stock a Top Sell Idea


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Top Energy Stocks

XOM -0.38%

CVX -0.57%

COP -0.34%

SLB -1.14%

OXY -1.28%

Energy stocks are lower, with the NYSE Energy Sector Index falling 0.6% while shares of energy companies in the S&P 500 are down nearly 0.8% as a group. Crude oil for November delivery is up 75 cents at $103.78 per barrel while November natural gas is up another 8 cents to $3.71 per 1 million BTU.

In company news, Clean Energy Fuels ( CLNE ) is down more than 8% at $11.91 a share, just 2 cents above its intra-day low after analysts at Piper Jaffray late Monday reiterated their Sell recommendation for the seller of liquified natural gas as an alternative for fleet vehicles.

The research shop called CLNE its top Sell idea for investors and also reduced its price target for the stock by $5 to $4.50 a share, according to a Bloomberg report.

In other sector news,

(+) MEMP, (+0.3%) Prices $300-mln offering of 7.625% senior unsecured notes due 2021.

(-) TLM, (-1.7%) Giving back initial gains that followed Carl Icahn's disclosing he now owns 61 mln shares of the Canadian oil and gas company, adding in a Twitter message he "may have conversations with mgmt re strategic alternatives, board seats, etc."

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) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CLNE

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