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

By Staff,

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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 Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: PDC , SLB

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