Top Energy Stocks
Energy stocks were narrowly mixed this afternoon, with the NYSE
Energy Sector Index slipping about 0.1% while shares of energy
companies in the S&P 500 were up 0.3% as a group. Crude oil for
September delivery was up 37 cents at $102.76 per barrel while
August natural gas was up 3 cents to $3.80 per 1 million BTU.
In company news, Talisman Energy (TLM,TLM,TO) rallied Wednesday
after the oil and gas company confirmed it was approached by
Spanish energy giant Repsol SA (
) about several potential transactions it did not identify.
Shares were up nearly 12% at $11.01 a share, easing slightly
from its recent session high at $11.22 a share. TLM.TO shares were
up 11.7% at C$11.01 each in Toronto trading.
REPYY was lower this afternoon, slipping about 1% at $24.79 a
"There is no assurance that any transaction will be agreed," TLM
said in prepared remarks. "Until such time as it is appropriate to
make a public announcement on any potential transaction, Talisman
does not intend to make any further comment on this matter."
Reuters earlier reported REPYY was studying several potential
acquisitions, including TLM, to boost its upstream business but had
not decided on any particular target.
In other sector news,
(+) FTI, (+3.5%) Q2 net income rises 115% over year-ago levels
to $226 mln, or $0.95 per share, topping the analyst consensus by
$0.32. Revenue climbs 16.3% to $1.985 bln, matching estimates.
Guides FY14 EPS in-line with Street view.
(-) HERO, (-5.7%) Surprise Q2 net loss of $0.06 per share trails
analyst consensus looking for a $0.02 profit by $0.06 per share.
Revenue climbs 14.8% year over year to $242.9 mln, lagging Street
view by $1.64 mln.