Top Energy Stocks
XOM +0.47%
CVX -0.42%, but still near year highs
COP +0.22%
SLB +0.34%
OXY +0.35%
Energy stocks are narrowly mixed today with the NYSE Energy Sector Index currently down about 0.3% while the S&P Energy Index is up less than 0.1%. Crude oil for May delivery is down 57 cents to $95.77 per barrel. May natural gas is up 6 cents to $4.05 per 1 mln BTU.
In company news, Pioneer Natural Resources ( PXD ) is down about 0.9% near $125 a share despite SunTrust Robinson Humphrey today naming the oil and gas company as its new Top Pick, saying the stock has underperformed because of concerns over PXD's financing needs.
The research shop also says the company's ratios of revolver capacity and net debt to EBITDA should continue to be unchanged through 2014, adding it believes PXD's Midland Basin assets are undervalued. Overall, SunTrust rates the stock at Buy with a $6.50 price target.
In other sector news,
(-) EC, (-0.8%, nearer year lows) Enters into two-part credit facility guaranteed by the U.S. EximBank: $420.4 mln amortized over seven years at LIBOR plus 0.65%; and $426.6 mln amortized over 10 years at Libor plus 0.95%.
(-) ACMP, (-2.4% from near year highs) Prices offering of 9 mln equity units at $39.86 mln apiece.
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
