Energy Sector Update for 07/18/2016: IOT,ESES,PACD

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Top Energy Stocks

XOM -0.34%

CVX -0.79%

COP -0.66%

SLB +0.18%

OXY -0.78%

Energy stocks were ending little changed, with the NYSE Energy Sector Index slipping about 0.1% while shares of energy companies in the S&P 500 were down less than 0.1% as a group. Crude oil for August delivery settled 71 cents lower at $45.24 per barrel while August natural gas futures fell 3 cents to finish at $2.72 per 1 million BTU.

In company news, Total SA's ( TOT ) American depository shares were ending lower Monday after the French energy major completed its public tender offer of the Saft Groupe.

According to documents obtained and made public today by Autorite des marches financiers, Total will hold about 23.5 million of Saft's shares, representing 90.14% of the capital and voting stock of the battery-maker.

Under French law, the tender offer will be re-opened between July 19 to August 2 to allow shareholders who have not yet disposed of their shares to do so under the same terms.

TOT ADS were down almost 1% at $48.55 apiece, trading back near the top of today's trading range after bouncing back from a session low of $47.77 a share.

In other sector news,

(+) ESES, Credit Suisse today begins analyst coverage with an Outperform rating.

(-) PACD, Wells Fargo downgrade to Underperform from Market Perform.

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: TOT , ESES , PACD

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