Markets

Sector Update: Energy Stocks Mixed Late; Regency Energy Partners Retreats from 6-Year High After Pricing Upsized Note Offering

Top Energy Stocks

XOM +0.77%

CVX +0.91%

COP +0.87%

SLB -1.19%

OXY +0.41%

Energy stocks were narrowly mixed this afternoon with the NYSE Energy Sector Index slipping about 0.1% while shares of energy companies in the S&P 500 were up 0.6% as a group. Crude oil for September delivery settled 73 cents higher at $103.02 per barrel while August natural gas fell 1 cent to $3.76 per 1 million BTU.

In company news, Regency Energy Partners LP ( RGP ) shares turned negative in late Wednesday trading after the oil and gas pipeline company priced an upsized $700 million offering of 5.00% senior notes due 2022 at 99.158% of their face value.

The company plans to use net proceeds from the offering - which was increased by $200 million shortly before pricing - to repay existing debt owed under its revolving credit facility.

RGP shares were down 0.6% at $31.61 in recent trade, giving back an earlier rise to a new six-year high of $32.35 a share.

In other sector news,

(+) TLM, Confirms approach by Spanish energy giant Repsol SA ( REPYY ) about several potential transactions it did not identify.

(-) HERO, Surprise Q2 net loss of $0.06 per share trails analyst consensus looking for a $0.02 profit by $0.06 per share. Revenue climbs 14.8% year over year to $242.9 mln, lagging Street view by $1.64 mln.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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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.

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