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INT

Energy Sector Update for 02/15/2017: LEU,FANG,INT

Top Energy Stocks

XOM +0.42%

CVX -0.01%

COP -1.16%

SLB -0.81%

OXY +0.22%

Energy stocks pared some of their earlier declines in afternoon trade, with the NYSE Energy Sector Index sinking over 0.5% while shares of energy companies in the S&P 500 were down about 0.2% as a group. Crude oil for March delivery settled 9 cents lower at $53.11 per barrel while March natural gas futures rose 2 cents to $2.93 per 1 million BTU.

In company news, Centrus Energy ( LEU ) has turned lower this afternoon, giving back an early advance that followed the uranium miner last night saying it has successfully settled its private exchange offer with bondholders owning 87.4% of its 8.0% PIK toggle notes due 2019/2024 agreeing to tender their notes.

Bondholders received up to $85 million of the company's new 8.25% senior secured notes due 2027 and $120 million of its 7.5% cumulative redeemable preferred stock in addition to $30 million in cash. The company said the deal has significantly strengthened its financial position, reducing the face amount of its outstanding long-term debt by 56%.

LEU shares were down slightly almost 3% at $6.22 each, drifting south throughout today's session following an early peak at $6.59 a share.

In other sector news,

(+) FANG, Adjusted Q4 net income of $0.90 per share beats Capital IQ consensus by $0.37 per share. Revenue rises 61.9% year over year to $185 mln, also surpassing the $164.63 mln consensus.

(-) INT, Non-GAAP Q4 EPS of $0.36 was down from $0.73 per share during same quarter last year and lags Street view by $0.24 per share. Revenue climbs 15.7% over year-ago levels to $7.79 bln, topping the $7.47 bln consensus.

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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