Top Energy Stocks
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.
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