Top Energy Stocks
Energy shares were mixed in pre-market trade Friday as crude oil
futures traded higher.
Light, sweet crude oil for May delivery was up 0.87% at $101.16
per barrel. In
other energy futures, heating oil was up 0.30% at $2.92 per
gallon while natural gas was down 0.60% at $4.44 per million
British thermal units.
In energy ETFs, the United States Oil Fund (
) was up 0.55% at $36.34. The United States Natural Gas ETF (
) was up 0.28% at $24.78.
In other energy news, Ocean Power Technologies (
) shares tumbled in Friday's pre-market session, after the
wave-energy technology company priced a public offering of 3.8
million common shares at $3.10 per share, an 18% discount to the
stock's Thursday closing price.
OPTT was down 16% at $3.20 in recent
, in a 52-week range of $.46 to $7.01.
The company has granted to the underwriters a 30-day option to
acquire an additional 570,000 shares to cover overallotments. Net
proceeds of the offering are expected at $10.8 million, assuming no
exercise of the overallotment option. The offering is expected to
close April 9.
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