Top Energy Stocks
Energy shares were higher in pre-market trading Monday, as crude-oil futures rose.
Light, sweet crude oil for September delivery was up 0.3% at $97.96 per barrel. In other energy futures, heating oil was up 0.1% at $2.88 per gallon, while natural gas was up 0.7% at $3.99 per million British thermal units.
In other energy news, Gulfport Energy ( GPOR ), an oil and natural gas exploration-and-production company, was upgraded by analysts at Stifel Nicolaus to a buy investment rating from a hold. The firm also set its price target on the stock at $70 a share, which represents a potential upside of 26% from its Friday close.
Blackstone Group ( BX ) is nearing a deal to acquire Royal Dutch Shell PLC's (RDS.A) half-stake in a huge Louisiana gas field, according to people familiar with the matter, The Wall Street Journal reported. The deal could value Shell's stake at more than $1 billion, the report said. It would include RDS.A's half-stake in a joint venture that owns more than 350,000 acres within the Haynesville Shale, a gas-filled rock formation buried deep in northern Louisiana and east Texas. BX shares were up more than 2% pre-market.
Rice Energy ( RICE ) shares were up more than 3% after the natural-gas and oil company reported its Q2 adjusted EPS was $0.03, below the Street estimate according to Thomson Financial of $0.05, but operating revenue was $91.9 million, above the Street estimate of $90 million.
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