Top Energy Stocks
Energy stocks were higher Tuesday, with the NYSE Energy Sector Index (^NYE) rising about 1.5% while shares of energy companies in the S&P 500 (^IXE) were up 1.5% as a group. Crude oil for February delivery (CLG16.NYM) settled 33 cents higher at $36.14 per barrel while February natural gas futures (NGG16.NYM) were 4 cents lower at $1.95 per 1 million BTU.
In company news, shares of Peabody Energy ( BTU ) were rising Tuesday after the coal miner said regulators in Wyoming have reaffirmed the company's eligibility to self-bond future reclamation activities at its North Antelope Rochelle and Rawhide surface mines.
The Dec. 18 decision by the the Wyoming Department of Environmental Quality follows an agency review of the company and the mines, Peabody disclosed in a regulatory filing. As part of its normal U.S, operations, the company is required to reclaim mined lands, with Peabody also using commercial surety bonds, bank guarantees and letters of credit in addition to self-bonding to ensure the necessary funding to carry out those activities.
BTU shares were up more than 16% in late trade at $8.62 apiece, easing from an earlier session high of $8.84 a share.
In other sector news,
(+) DNR, Begins private exchange offer for all of its outstanding 6% senior subordinated notes due 2021 and 5% senior subordinated notes due 2022 as well as its 4% senior subordinated notes due 2023.
(-) REXX, KeyBanc downgrade to Sector Weight from Overweight.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.