Energy Stocks Still Higher Nearing Market Close

FB Nasdaq FB Facebook

Energy stocks eased slightly from their earlier highs with the NYSE Energy Sector Index rising about 1.7% in late trade while shares of energy companies in the S&P 500 were ahead nearly 1.8% as a group. Crude oil for April delivery settled 62 cents higher at $102.82 per barrel while March natural gas shed 39 cents today to finish at $4.62 per 1 million BTU.

In company news, Noble Energy (NYSE:NBL) was up more than 4% in late Monday trading after KLR Group began coverage of the oil and gas company with a Buy rating and a price target of $91 a share. Shares were up 4.2% at $69.64 apiece in recent trade, climbing as high as $70.50 a share during today’s session. The stock has a 52-week range of $52.62 to $78.01 a share.

Chesapeake Energy Corporation (NYSE:CHK), Said it is pursuing strategic alternatives for Chesapeake Oilfield Services, its oilfield services division, including a potential spin-off to CHK shareholders or an outright sale.

Magnum Hunter Resources Corp (NYSE:MHR), Shares hit new 52-week high, only to turn sharply lower after Q4 revenue doubles over year-ago levels but still trails analyst forecasts by over 8%. Adjusted net loss of $0.14 per share came in $0.07 less than expected.



Signup for free to be the first to receive exclusive free links. Now in your mailbox!
Join over 15,000 subscribers
Send me links

Your information will not be shared to anyone