Markets
OAS

Energy Sector Update for 09/14/2016: WPT,NS,OAS

Top Energy Stocks

XOM -1.01%

CVX -1.18%

COP -2.61%

SLB -1.06%

OXY -2.58%

Energy stocks extended their declines this afternoon, with the NYSE Energy Sector Index dropping 1.2% while shares of energy companies in the S&P 500 were down nearly 1.3% as a group. Crude oil for October delivery settled $1.32 lower at $43.58 per barrel while October natural gas futures fell 2 cents to $2.89 per 1 million BTU.

In company news, World Point Terminals ( WPT ) was moderately higher this afternoon after analysts at Stifel today raised their investment call for the petroleum storage company to Buy from Hold in a reported value play, also setting a $16 price target for the stock.

WPT shares were up over 2% in late trade at $14.85 each, or just 2 cents under their session high.

In other sector news,

(+) ESV, Scotia Howard Weil resumes analyst coverage with an Outperform investment rating.

(-) OAS, Prices upsized $275 mln public offering of 2.625% senior unsecured convertible notes due 2023 at par. Net proceeds will be used to repurchase the company's 7.25% senior notes due 2019 and also funding a Dutch auction tender offer for senior notes maturing in 2021, 2022 and 2023.

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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