Sector Update: Energy Shares Mixed Pre-Market; Crude Oil Futures Lift


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Top Energy Stocks

XOM: +0.15%

CVX: flat

COP: flat

SLB: -0.06%

OXY: +0.22%

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 ( USO ) was up 0.55% at $36.34. The United States Natural Gas ETF ( UNG ) was up 0.28% at $24.78.

In other energy news, Ocean Power Technologies ( OPTT ) 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 pre-market trading , 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.

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: USO , UNG , OPTT

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