Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Sector Snap: Shares of Natural Gas Drillers Rise

NEW YORK (AP) -- Shares of companies that drill for natural gas rose Wednesday as an analyst said prices could keep rising and natural gas futures reached their highest prices in two and a half years.

Citi Investment Research analyst Anthony Yuen said U.S. prices for natural gas could keep rising because the harsh winter weather will lead to sustained strong demand, depleting inventories. He said prices could reach $5 per million BTUs, a threshold they did not break last winter.

In afternoon trading the biggest gainers were Southwestern Energy Co., which advanced $1.77, or 4.4%, to $42.09, and Range Resources Corp., which picked up $2.31, or 2.7%, to $87.24. Cabot Oil & Gas Corp. shares rose $0.80, or 2.1%, to $39.89 and Chesapeake Energy Corp. shares ticked up $0.48, or 1.8%, to $26.93.

Earlier in the day shares of Range Resources hit an all-time high of $88.24 and Cabot also reached an all-time high at $40.62. Southwestern shares set a two-year high of $42.06.

Elsewhere in the sector Devon Energy Corp. stock gained $0.66 to $60.34 while Clayton Williams Energy shares added $1.14 to $72.03 and shares of QEP Resources edged up $0.27 to $31.07.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2805049, ~/Articles/ArticleHandler.aspx, 9/3/2015 7:21:21 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Associated Press

Today's Market

updated 10 hours ago Sponsored by:
DOW 16,351.38 293.03 1.82%
S&P 500 1,948.86 35.01 1.83%
NASD 4,749.98 113.87 2.46%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes