Energy stocks were ending higher Friday with the NYSE Energy Sector Index rising about 0.9% while shares of energy companies in the S&P 500 were up 0.8% as a group. Crude oil for July delivery settled 38 cents higher at $106.91 per barrel while July natural gas fell 2 cents to $4.74 per 1 million BTU.
In company news, S&P MidCap 400 constituent Cimarex Energy Co. ( XEC ) was ending with a 2% advance Friday after the oil and gas company was selected to join the S&P 500 stock index, replace International Game Technology ( IGT ).
Following the scheduled changes after the close of trading next Friday, June 20, IGT will replace XEC in the S&P MidCap 400.
XEC shares was ahead 2% at $138.46 apiece in recent trade, just 10 cents under its session high. The stock has a 52-week range of $62.98 to $139.95 a share, jumping 94% over the past 12 months.
IGT was up 10.6% this afternoon at $15.87 a share.
In other sector news,
(+) PVA, Raised to Buy from Hold at Stifel Nicolaus in a valuation move following the stock's recent price decline. It also cited production volume growth and PVA's $312.5 mln offering of convertible preferred stock earlier this week.
(-) CHK, Prices $500 mln private placement of 6.5% Senior Notes due July 2022 to repay debt at its Seventy Seven Energy oilfield-services (SSE) unit ahead of its planned spinoff from CHK.
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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.
