Top Energy Stocks
Energy stocks were narrowly higher Friday, with the NYSE Energy Sector Index rising about 0.2% and shares of energy companies in the S&P 500 gaining just 0.1% as a group. Crude oil for November delivery was up 44 cents at $45.34 per barrel while November natural gas futures were 7 cents lower at $2.61 per 1 million BTU.
In company news, Transocean ( RIG ) fell Friday after responding to assertions by a former Petrobras ( PBR ) employee who was offered a bribe by a person claiming to represent Transocean. The company said it has no knowledge of any wrongdoing by any of its employees or agents.
Transocean said it was investigating the assertions made by Eduardo Costa Van Musa during the Brazilian government's probe into state-owned Petrobras, adding it would continue efforts to ensure no violations of company policy or law has or will occur.
RIG shares were more than 1% at $12.82 apiece, recovering from an earlier slide to $12.53 a share. Prior to today's decline, the stock already had fallen more than 59% over the past 12 months.
PBR American depository shares were down more than 2% at $4.06 each this afternoon.
In other sector news,
(+) GEL, (+0.7%) Wunderlich begins analyst coverage with a Buy rating and a $50 price target.
(-) EMES, (-29.5%) Cancels FY15 distribution guidance, citing "difficult" market conditions in its Sand and Fuel segments. Analyst downgrades at Stifel Nicolaus, Robert W. Baird & Co.
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