Energy stocks received a boost Friday as a tropical storm threatened to shut down roughly half of the oil and natural gas production in the Gulf Coast. The United States Natural Gas Fund, LP (NYSEARCA: UNG) increased 0.17 percent to close at $18.06, down approximately 4.4 percent year-to-date. Production in the Gulf accounts for approximately 23 percent of total crude production and 7 percent of natural gas production in the U.S. By Friday companies operating in the Gulf have shut down roughly 40 percent of total natural gas production. Here is how some natural gas stocks reacted Friday:
Chesapeake Energy Corporation (NYSE: CHK) shares traded in the range of $26.07 to $26.67 Friday before settling to close at $26.50, an increase of 1.22 percent. The stock appears to be facing some resistance at the $27.30 and $28.54 levels with some support at $26.33. Shares of Chesapeake Energy have gained approximately 60.0 percent in 2013.
More information on Chesapeake Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/CHK
Devon Energy Corp. (NYSE: DVN) shares traded in the range of $57.99 to $59.14 Friday before settling to close at $58.92, an increase of 1.64 percent. The stock appears to be facing some resistance at the $60.03 and $60.36 levels with some support at $58.29. Shares of Devon Energy have gained approximately 13.0 percent in 2013.
More information on Devon Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/DVN
SandRidge Energy Inc. (NYSE: SD) shares traded in the range of $6.05 to $6.15 Friday before settling to close at $6.08, an increase of 0.50 percent. The stock appears to be facing some resistance at $6.24 with some support at the $6.05 and $5.87 levels. Shares of SandRidge Energy have fallen approximately 4.0 percent in 2013.
More information on SandRidge Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/SD
Southwestern Energy Company (NYSE: SWN) shares traded in the range of $35.56 to $36.12 Friday before settling to close at $35.89, an increase of 0.53 percent. The stock appears to be facing some resistance at the $36.31 and $36.63 levels with some support at $35.64. Shares of Southwestern Energy have gained approximately 7.0 percent year-to-date.
More information on Southwestern Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/SWN
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