Referenced Stocks

Sector Update: Energy Shares Higher in Pre-Market Trade; Crude Futures Log Fractional Gains

By Midnight Trader,  November 29, 2011, 08:16:19 AM EDT

NYMEX Benchmark Crude January: +$0.27 to $98.48

Top Energy Stocks

XOM: 0.0%

CVX: +0.4%

COP: +0.2%

SLB: +0.3%

OXY: +0.4%

Energy shares are higher in pre-market trading while crude oil futures are building on prior-session gains. January crude is trading up $0.27 to $98.48 a barrel according to the CME Group. The most active natural gas contract is up $0.02 to $3.55. Shares of Schlumberger ( SLB ) are higher as the company is reportedly initiated with a Buy at Jefferies. The firm set a price target of $90. SLB shares are up 0.3% to $69.41 in pre-market trade. Also from Jefferies: the firm downgraded Pioneer Drilling ( PDC ) to Hold from Buy. Price target is lowered to $10.50 from $11.50. PDC shares are up 1.2%.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: PDC, SLB



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