Top Energy Stocks
Energy stocks were narrowly mixed this afternoon with the NYSE
Energy Sector Index climbing about 0.3% while shares of energy
companies in the S&P 500 were down about 0.1% as a group. Crude
oil for September delivery was down $1.48 at $96.11 per barrel
while September natural gas was up 9 cents to $3.92 per 1 million
In company news, Gulfport Energy Corp. (
) was narrowly higher Thursday afternoon after earlier today
pricing an upsized $300 million price placement of 7.75% senior
notes due 2020 at 106% of par.
The offering was increased in size by $50 million shortly before
pricing. The oil and gas company previously sold a combined $300
million of the 7.75% notes through a pair of offerings in October
and December 2012.
Net proceeds from the latest offering will be used to repay debt
owed under GPOR's revolving credit facility as well as funding a
portion of the company's 2014 and 2015 capital development
GPOR shares were up about 0.6% in recent trade at $55.30 each
after earlier climbing to a session high of $55.56 a share. The
stock has traded within a 52-week range of $51.59 to $75.75 a
share, holding on to a 3% advance over the past 12 months.
In other sector news,
(+) ANW, (+6.4%) Reports Q2 profit of $9.3 mln, or $0.20 per
share, improving on $5.5 mln gain last year and beating analyst
estimates by $0.02 per share. Revenue rose 1.7% year over year to
$1.72 bln, edging the Capital IQ consensus by around $20 mln.
(-) EXXI, (-17.3%) Fiscal Q4 net loss of $1.82 mln, or $0.06 per
share, reverses $62.1 mln profit last year and trails estimates
looking for a $0.26 per share gain. Revenue rises 3.1% to $324.1
mln, topping Capital IQ consenus by $3.85 mln.
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