Continental Resources Inc CLR:NYSE

Last Price$68.61NYSE Previous Close - Last Trade as of 7:00PM ET 8/12/22
NYSE 15-minute delayed Bid/Ask Quotes
Today's Change0(0.00%)
Bid (Size)$63.00 (9)
Ask (Size)$74.51 (3)
Day Low / HighN/A - N/A
Volume563.2 K

Sector Update: Energy Stocks Mixed as Crude Oil Reverses Gains

4:04PM ET 6/14/2022 MT Newswires
Energy stocks turned mixed late in afternoon trading, with the NYSE Energy Sector Index falling 0.3% while the SPDR Energy Select Sector ETF (XLE) still was 0.3% higher. The Philadelphia Oil-Service Sector index was slipping 2.6%, giving back an earlier advance, while the Dow Jones US Utilities Index was falling 2.8%.

Oil prices reversed earlier gains, with West Texas Intermediate crude oil $2 lower at $118.93 per barrel and Brent crude declining $3.04 to $119.71 per barrel. Henry Hub natural gas futures fell $1.42 to $7.19 per 1 million BTU.

In company news, DCP Midstream (DCP) declined 1.7% after the natural gas gathering, transportation and storage company has agreed to acquire Permian Basin gathering and processing assets from Woodland Midstream II, a portfolio company of EIV Capital, for $160 million.

Cenovus Energy (CVE) declined 1.45% after ATB Capital Markets Tuesday raised its price target for the Canadian oil and natural gas company by $1.50 to $34.50 a share, one day after Cenovus announced plans to buy out joint venture partner BP's (BP) 50% share of the Sunrise oil sands project in northern Alberta for CA$1.2 billion. Goldman Sachs Tuesday also reiterated its buy stock rating for Cenovus shares.

TC Energy (TRP) fell 1.4% after the Canada-based pipeline company said it will begin off-taking renewable energy from a solar-energy facility in Strathmore, Alberta, under a 15-year power purchase agreement with Elemental Energy when the new 20-megawatt starts operations on Wednesday. Financial terms were not disclosed.

Among advancers, Continental Resources (CLR) was nearly 15% higher, easing from a 17% gain to its highest share price since August 2014, after controlling shareholder Harold Hamm offered to acquire the 17% of the oil and natural gas producer he and family members don't already own for $70 per share, or roughly 9% above Monday's closing price.