Sector Update: Energy


Energy stocks have turned narrowly mixed shortly before the closing bell with the NYSE Energy Sector Index declining 0.1% while shares of energy companies in the S&P 500 are now up about 0.1% as a group. Crude oil for February delivery fell 50 cents to settle at $93.46 per barrel while January natural was unchanged at $4.30 per 1 million BTU.

In company news, Spectra Energy ( SE ) rallied today, climbing about 1% to a high of $35.48 a share today after announcing an increase in its annual dividend by $0.12 per share to $1.34 per share on an annualized basis.

The next quarterly dividend of $0.335 per share, up from $0.315 per share during the previous quarter, will be paid on March 10 to shareholders of record on Feb. 14.

SE shares recently traded at $35.39 apiece, up about 0.6%.

In other sector news,

(+) END, Says its first well in the Rochelle Field of the UK North Sea is now producing between 65 million to 70 million cubic feet of natural gas per day. The company also met its Q4 production target of 12,000 to 13,000 barrels of oil equivalent per day.

(-) CPE, Lone Star Value Management LLC calls for a review of strategic options by the oil and gas firm, also urging CPE board to avoid issuing more stock or debt or buying assets outside the Permian Basin in Texas.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: SE

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