Top Energy Stocks
Energy shares were in negative territory at mid-day on Monday.
Light, sweet crude oil for March delivery was down 0.8% at $52.77 per barrel. In other energy futures, heating oil was down 0.2% at $1.63 per gallon while natural gas was 2.9% lower at $3.26 British thermal units.
Frontline said it is in initial talks with DHT and that it would acquire the company in a stock-for-stock transaction at a ratio of 0.725 Frontline shares for each DHT share. Frontline, together with its affiliates, has also acquired nearly 15.4 million shares of DHT, or approximately 16.4% of the outstanding common stock. FRO shares were down marginally.
In other sector news,
(+) CPST, (+5.4%) Reported preliminary fiscal Q3 revenue above consensus estimates
(-) BWEN, (-3.2%) Reached agreement to acquire North Carolina-based Red Wolf Company, a fabricator, kitter and assembler of industrial systems supporting the gas turbine market.
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