Sector Update: Energy

By Staff,

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Energy stocks are extending their gains this afternoon with the NYSE Energy Sector Index rising 0.6% while shares of energy companies in the S&P 500 also are up about 0.5% as a group.

In company news, Lightbridge ( LTBR ) is down over 14% at $1.74 a share, just 2 cents above its intra-day low and the nuclear-energy consulting company today pricing a registered direct offering with institutional investors of 2.5 million equity units at $1.75 apiece, generating around $4.375 million in gross proceeds.

Each unit consists of one share of common LTBR stock and a warrant to purchase one-half of a share at $2.30 per share starting six months after the offering closes and expiring seven years after that date.

In other sector news,

(+) QEP, Hedge fund Jana Partners is now the oil producer's largest shareholder, taking a 7.5% stake, according to a new stock ownership filing.

(+) NFX, Sells all of its equity interests in Newfield Malaysia Holdings to SapuraKencana Petroleum Berhad for $898 mln in cash. Deal is expected to close in early 2014.

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: LTBR

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