While the price of crude oil moved around quite a bit, it was a relatively quiet week news-wise in the energy sector. Having said that, it didn't stop a number of energy stocks from making huge moves this week. According to S&P Capital IQ data, the names making the biggest moves this week were Stone Energy (NYSE: SGY), Azure Midstream Partners (NYSE: AZUR), and Clayton Williams Energy (NYSE: CWEI).
Stone Energy was the lone loser of the bunch. Its stock price was affected primarily by volatility in the oil price. The only news item was the fact that the borrowing base on the company's credit facility was reconfirmed. That was actually good news for Stone Energy because it guarantees the company's liquidity cushion for the next six months.
Azure Midstream Partners, likewise, didn't have a whole lot of news fueling its double-digit move this week. About the only news relating to the company was an analyst report, in which the company's stock rating went from a sell to a hold. While that's an upgrade, the report wasn't exactly bullish on Azure Midstream Partners' future.
Clayton Williams Energy had the most interesting news after a report surfaced that the company had put itself up for sale. That report was actually confirmed by the company. Meanwhile, an analyst chimed in saying that, if a sale does go through, it would likely result in Clayton Williams Energy fetching a real big premium in a buyout.
To learn even more about why these stocks moved so sharply this week, check out the following slideshow.
