Sector Update: Energy Shares Down Ahead of the Close; Crude Closes Above $105 a Barrel


Shutterstock photo

NYMEX Benchmark Crude April: +$3.53 (+1%) to $105.44

Top Energy Stocks

XOM: -0.3%

CVX: -0.3%

COP: -0.8%

SLB: -1.1%

OXY: +0.5%

Energy shares are down in late trading as crude oil futures finish above $105 a barrel in yet another strong gain for the commodity.

Light, sweet crude oil for April delivery finished up $3.53, or 1%, to $105.44 a barrel. In other energy futures, heating oil was down 0.46% to $3.07 a gallon while natural gas was up 2.73% to $3.91 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) is up 0.14% to $42.37. The United States Natural Gas ETF ( UNG ) is up 3.2% to $5.24.

In late-session energy news, El Paso Pipeline Partners ( EPB ) is down after it said it will pay $587 million to El Paso ( EP ) to increase it stake in Southern Natural Gas Co. by 22%. EPB will own an 82% stake in Southern Natural Gas after the deal closes.

EPB will increase its quarterly dividend by 5% to $0.46 per unit beginning in Q2. EP owns a 49% limited partner interest and 2% general partner interest in the EPB.

El Paso Pipeline shares are down 3.71% to $36.34.

Meanwhile, James River Coal ( JRCC ) is sharply higher after it reported this morning that Q4 EPS of $0.93, up from a year ago loss of $0.12 per share.

Separately, the company said it signed a definitive agreement to purchase International Resource Partners LP (IRP) and Logan & Kanawha Coal Company, LLC (L&K) and their affiliated companies for $475 million in an all-cash transaction.

James River shares are up 12.1%, or $2.45, to $22.74.

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: EP , EPB , JRCC , UNG , USO

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by