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Energy Sector Update for 01/12/2017: AM,MNGA,KOS

Top Energy Stocks

XOM -0.46%

CVX +0.19%

COP -1.91%

SLB -0.48%

OXY -0.74%

Energy stocks have pared most of the earlier declines this afternoon, with the NYSE Energy Sector Index dropping about 0.2% while shares of energy companies in the S&P 500 were down 0.4% as a group. Crude oil for February delivery settled 76 cents higher at $53.01 per barrel while February natural gas futures climbed 16 cents to $3.39 per 1 million BTU.

In company news, Antero Midstream Partners ( AM ) equity units were trading back near their session highs this afternoon after the pipeline and infrastructure company late Wednesday raised its quarterly distribution by about 5.7% over its most recent dividend to $0.28 per unit.

The next distribution is scheduled to be paid Feb. 8 to investors of record on Feb. 1. The company has increased its quarterly distribution by 27% over the past 12 months.

AM units were up more than 2% at $33.45 each, previously topping out today at $33.54 per unit.

In other sector news,

(+) MNGA, Received final $191,500 progress payment from Green Arc Supply, lifting the total to fund construction of a plasma-arc gasification system to $775,000.

(-) KOS, Prices $199.5 mln secondary offering of 16.5 mln shares owned by Warburg Pincus and 13.5 mln shares held by the Blackstone Group ( BX ) at $6.65 apiece, a 5.8% discount to Wednesday'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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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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