Top Energy Stocks
Energy stocks were edging lower this afternoon, with the NYSE Energy Sector Index falling nearly 0.3% while shares of energy companies in the S&P 500 were down almost 0.4% as a group. West Texas Intermediate crude oil for October delivery was slipping 81 cents to $54.94 per barrel at the New York Mercantile Exchange while the global benchmark Brent crude November contract was declining 78 cents to $60.03 per barrel. October natural gas futures were unchanged at $2.56 per 1 million BTU. Among energy-related ETFs, the United States Oil fund was falling around 2.1% while the United States Natural Gas fund was ahead just more than 0.1%. The Philadelphia Oil Service Sector index was falling almost 1.9%.
Among energy stocks moving on news:
(-) Pembina Pipeline (PBA) was narrowly lower after the company said Thursday it has closed on a $1.5 billion offering of senior unsecured medium-term notes, beginning with an initial $600 million tranche of 2.56% senior notes due June 2023 followed with another $600 million round of 3.31% senior notes maturing in February 2030 and a $300 million tranche of reissued 4.54% senior notes due April 2049. Net proceeds will be used to repay debt.
In other sector news:
(-) Taronis Technologies (TRNX) fell 1% on Thursday. The renewable fuels and industrial gas producer said it generated $1.85 million in revenue during August, up 114% over the year-ago period.
(-) Oil States International (OIS) dropped more than 5% after Wells Fargo downgraded the oilfield-services company to market perform from outperform.
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