Markets
E

Energy Sector Update for 04/02/2015: WRES,HERO,E,FELP

Top Energy Stocks

XOM -0.12%

CVX +0.20%

COP +0.11%

SLB +0.31%

OXY +0.34%

Energy stocks were mostly higher, with the NYSE Energy Sector Index rising 0.5% while shares of energy companies in the S&P 500 were up 0.3% as a group. Crude oil for May delivery was down $1.13 at $49.96 per barrel while May natural gas futures were up 11 cents to $2.71 per 1 million BTU.

In company news, Warren Resources Inc. ( WRES ) was higher Thursday afternoon after analysts at Imperial Capital more than doubled their price target for the oil and natural gas producer's stock by 85 cents to $1.60 a share, also reiterating its In-Line recommendation.

WRES shares were up more than 4% at 94 cents apiece, just a penny under their session high. The stock has traded within a 52-week range of 84 cents to $7.02 a share, falling more than 81% over the past 12 months before Thursday's reversal.

In other sector news,

(+) HERO, (+12.3%) Signs five-year contract with Eni ( E ), with dayrate for the Hercules 260 drill rig in west Africa ranging between $75,000 if Brent crude oil is priced under $86 per barrel to $125,000 per day maximum if Brent climbs past $125 per barrel.

(-) FELP, (-1.0%) Thermal coal producer, on March 26, evacuates Deer Run mine near Hillsboro, Ill., after recording excess carbon monoxide readings. The mine remains closed while company works with state and federal officials to correct situation.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

E

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More