Sector Update: Energy

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Energy shares were generally flat in pre-market trade Monday as crude oil futures were down.

Light, sweet crude oil for September delivery was down 0.8% at $96.57 per barrel. In other energy futures, heating oil was down 0.72% at $2.83 per gallon while natural gas was down 0.48% at $3.76 British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was down 0.48% to $35.27. The United States Natural Gas ETF ( UNG ) was down 0.96% at $20.65.


In other energy news, Synergy Resources ( SYRG ) received a buy investment rating Monday from Canaccord Genuity, which initiated coverage of the oil-and-gas company with a price target at $17 per share.

The price target is 33% above the stock's Friday closing price of $12.78. It was inactive pre-market and has a 52-week range of $7.25 to $14.11.

The firm described Synergy as "Kodiak 2.0." Kodiak Oil & Gas ( KOG ), another energy company, has had strong stock gains, up 33% for the year to date and up 53% from a year ago. Over the past five years, KOG has soared about 11-fold.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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


This article appears in: Investing , Commodities

Referenced Stocks: USO , UNG , SYRG , KOG

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As of 12/26/2014, 04:15 PM


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