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Energy Sector Update for 09/14/2015: LEU,LTBR,WMB

Top Energy Stocks

XOM -0.45%

CVX -0.01%

COP -1.56%

SLB -1.38%

OXY -1.20%

Energy stocks have pared some of their earlier declines, with the NYSE Energy Sector Index sinking 0.9% while shares of energy companies in the S&P 500 were down almost 1.0% as a group in late trade. Crude oil for November delivery settled 73 cents lower at $44.43 per barrel while November natural gas futures rose 6 cents higher at $2.83 per 1 million BTU.

In company news, Centrus Energy Corp. ( LEU ) fell hard today after the company late Friday confirmed the Oak Ridge National Laboratory plans to extend its supply contract with the uranium miner with a 60% funding cut compared with current levels.

Funding is being reduced to $35 million under the new, one-year contract slated to begin Oct. 1 from its current level of about $60 million per year and will idle the country's only operating cascade of advanced uranium enrichment centrifuges in Piketon, Ohio.

LEU shares were down over 7% at $3.31 each, earlier stopping just a penny short of its 52-week low of $3.26 a share. Before today's decline, the stock already had fallen nearly 89% over the past 12 months.

In other sector news,

(+) LTBR, Proceeds to the next stages of its cooperation agreement with Canadian Nuclear Laboratories, with CNL fabricating the next generation of the company's metallic nuclear fuel test samples at its Chalk River facility.

(-) WMB, Increases quarterly dividend by 8.5% over its previous distribution to $0.64 per share, payable Sept. 30 to shareholders of record on Sept. 24.

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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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