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Energy Sector Update for 01/24/2017: SN,GLF,GLOP


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Top Energy Stocks

XOM +0.33%

CVX +1.16%

COP +1.30%

SLB +0.58%

OXY +0.16%

Energy stocks managed to recoup most of yesterday's declines, with the NYSE Energy Sector Index rising about 1.4% in Monday trade while shares of energy companies in the S&P 500 also were up about almost 1.4% as a group. Crude oil for March delivery settled 43 cents higher at $53.18 per barrel while February natural gas futures rose 4 cents to $3.28 per 1 million BTU.

In company news, Sanchez Energy ( SN ) were higher late Tuesday after analysts at Seaport Global Securities today raised their investment call for the oil and natural gas producer to Buy from Neutral and almost doubling their price target for the stock by $8 to $17 a share.

Also today, RBC Capital Markets increased its price target for Sanchez shares by $2 to $16 apiece, reiterating their Outperform rating. Analysts at FBR & Co. similiarly boosted their price target Tuesday for the stock to $16 a share with an Outperform rating, up $4 from their prior call.

SN shares were up over 5% at $13.70 apiece, down only slightly from their session high of $13.74 a share earlier today.

In other sector news,

(+) GLF, Takes delivery of the North Barents, its third Arctic class platform supply vessel in the North Sea. Pays $42 mln for the 40-passenger craft that was designed by Skipsteknisk AS and built by Simek in Flekkefjord, Norway.

(-) GLOP, Prices $76.9 mln offering of 3.75 mln shares at $20.50 apiece, a 6.8% discount to Monday's closing price.

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

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This article appears in: Investing , Energy
Referenced Symbols: SN , GLF , GLOP


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