Energy shares traded generally mixed in pre-market trade Thursday as crude oil futures were down.
Light, sweet crude oil for July delivery was down 0.31% at $102.32 per barrel. In other energy futures, heating oil was up 0.13% at $2.85 per gallon while natural gas was up 0.75% at $4.68 per million British thermal units.
In energy ETFs, the United States Oil Fund ( USO ) was flat at $37.51. The United States Natural Gas ETF ( UNG ) was flat at $25.70.
In other energy news, Abraxas Petroleum ( AXAS ) has been upgraded by analysts at SunTrust Robinson-Humphrey to a buy rating from neutral. The firm also raised its price target on shares of the oil and gas company to $6 from $5.
The upgrade comes the day after AXAS revised its barrels of oil equivalent per day (boepd) production estimates to between 5,500-5,700 from prior estimates of 5,200-5,300 at the company's Eagle Ford and Williston Basin properties.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
