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Energy Sector Update for 09/07/2017: AM, AR, MTRX, WLL

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Top Energy Stocks

XOM +0.15%

CVX -0.02%

COP 0.00%

SLB +0.37%

OXY +0.32%

Energy stocks have turned narrowly higher, with the NYSE Energy Sector Index still rising about 0.1% while shares of energy companies in the S&P 500 were up almost 0.2% as a group, reversing an earlier decline. Crude oil for October delivery was up 3 cents at $49.19 per barrel while October natural gas futures were 2 cents lower at $2.98 per 1 million BTU.

In company news, Antero Midstream Partners LP ( AM ) slumped Thursday to a session low of $31.03 per unit after corporate parent Antero Resources ( AR ) priced a $315 million secondary offering of 10 million of the limited partnership's equity units at $31.45 apiece, a 6.4% discount to Wednesday's closing price.

Antero Midstream did not receive any proceeds from the stock sale.

In other sector news,

(+) MTRX, (+12.8%) Fiscal Q4 sales decline 18.9% from year-ago levels to $291.8 mln, beating the $281.8 mln consensus. Also reports Q4 net loss of $0.04 per share, reversing a $0.34 per share profit last year but still matching the analyst mean. Guides FY17 sales above Street.

(-) WLL, (-5.9%) Today discloses plans for a reverse stock split of between 1-for-2 to 1-to-6 in a bid to increase its per-share stock price and improve the stock's marketability.

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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