Energy stocks are flat this morning following a 0.99% decline
for the NYSE Energy index (^NYE) and the S&P Energy index
(^IXE) falling 1.08% during Wednesday's session.
Crude oil is flat to slight higher this morning, with April
NYMEX currently up 3 cents at $107.10 per barrel. Brent futures
also are higher and the April contract now fetching $123.39 a
barrel, up 71 cent. Natural gas is off just under 7 cents at $2.547
per 1 million British Thermal Units.
In company news, EV Energy Partners, L.P. (
) shares were lower in late trade last night after reporting Q4
earnings of $0.27 per share, including one-time items that may not
be comparable with the Thomson Reuters consensus of $0.57. In the
prior-year period, the oil and gas exploration company posted $0.55
loss per share. Revenues rose 38% to $66.83 million, missing the
analysts' expectations for $70.07 million in revenues in Q4.
Also this morning, Green Plains Renewable Energy (
) shares are nearly 7% lower after the ethanol producer announced
plans to repurchase 3.7 million shares from its largest individual
shareholder, NTR plc. GPRE also will sell 3.0 million shares of
common stock now held by NTR under the company's shelf registration
statement, reducing NTR's ownership stake to around 3.5%. GPRE is
using a combination of cash and debt to buy its stock from NTR.
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