Sector Update: Energy

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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.



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This article appears in: Investing , Commodities

Referenced Stocks: LTBR

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