Editor’s Note: Related tickers: SandRidge Energy Inc. (NYSE:SD), Chesapeake Energy Corporation (NYSE:CHK), Exxon Mobil Corporation (NYSE:XOM), Rex Energy Corporation (NASDAQ:REXX), Devon Energy Corporation (NYSE:DVN)
SandRidge Energy Inc. (NYSE:SD) was downgraded by analysts at Raymond James to a “market perform” rating in a research report issued to clients and investors on Monday, ARN reports. Shares of SandRidge Energy Inc. (NYSE:SD) traded up 0.37% during mid-day trading on Monday, hitting $5.38. SandRidge Energy Inc. (NYSE:SD) has a one year low of $4.52 and a one year high of $7.80. The stock’s 50-day moving average is currently $5.02. The company’s market cap is $2.571 billion. SandRidge Energy Inc. (NYSE:SD) last released its earnings data on Tuesday, May 7th.
S&P lifts Chesapeake view to stable from negative (MarketWatch)
Standard & Poor’s Ratings Services raised its outlook on Chesapeake Energy Corporation (NYSE:CHK) -.00% to stable from negative, citing expectations the oil-and-gas company will pursue a more moderate growth strategy under its new chief executive. S&P, which affirmed Chesapeake Energy Corporation (NYSE:CHK)’s rating three levels below investment grade at double-B-minus, also said it expects the company to improve its profitability and deleverage its capital strucutre. S&P said it will reassess its view on Chesapeake Energy Corporation (NYSE:CHK) when it has a clearer picture of the company’s business strategy and financial policy under its new CEO.
Exxon Mobil Corporation (NYSE:XOM) and its employees donate money to colleges and universities of Kansas. (FinancialsTrend)
Exxon Mobil Corporation (NYSE:XOM) closed in the previous trading session at $94.03 after going 0.80% (or -$0.76) in the southwards direction. The stock has hit day’s high at $93.61 and day’s low at $94.52. As part of the Exxon Mobil Corporation (NYSE:XOM) Foundations 2012 Educational Matching Gift Program, the company, Exxon Mobil Corporation (NYSE:XOM) and its employees along with the employees from XTO Energy in Kansas donated $665,994 to around 10 higher education institutions across Kansas.
Rex Energy Announces Addition to Board of Directors (MarketWatch)
Rex Energy Corporation (NASDAQ:REXX) +1.70% is pleased to announce Todd N. Tipton has joined the company’s Board of Directors. Mr. Tipton has over 35 years of experience in the oil and gas industry. Most recently, he served as Executive Vice President of Exploration for SandRidge Energy Inc. (NYSE:SD) where he was responsible for the exploration and exploitation strategy for the company. Before joining SandRidge Energy Inc. (NYSE:SD), Mr. Tipton served as Exploration Manager for the Western Division of Devon Energy Corporation (NYSE:DVN).
Chicago Fuels Rally After Exxon Cuts Rates at Illinois Refinery (BusinessWeek)
Chicago fuels strengthened relative to New York futures after Exxon Mobil Corporation (NYSE:XOM) reduced rates at the 238,000-barrel-a-day Joliet, Illinois, refinery, the fifth-largest plant in the U.S. Midwest. The discount for ultra-low-sulfur diesel fuel in Chicago narrowed 0.5 cent to 4.5 cents a gallon versus New York Mercantile Exchange futures at 12:43 p.m. The spread trimmed for a fifth day, the longest such streak since Nov. 16, 2012. The fuels rallied after regulatory filings showed that Exxon Mobil Corporation (NYSE:XOM)’s Joliet refinery shut an “east co” boiler and cut rates on July 26.
Chesapeake Energy Corp. (NYSE:CHK) Outlook Raised which is alarming Exxon Mobil Corporation (NYSE:XOM) (PRCarbon)
Chesapeake Energy Corporation (NYSE:CHK) outlook raised from negative to stable by Standard & Poor’s Ratings Services , citing potentials the oil-and-gas company will follow a more moderate development strategy under its new chief executive. S&P, which acknowledged Chesapeake Energy Corporation (NYSE:CHK)’s rating three levels below investment grade at double-B-minus, also told that it believes the company to increase its profitability and deleverage its capital structure. Natural gas has factually been the focus of Chesapeake Energy Corporation (NYSE:CHK)’s growth creativeness and accounted for 70% of reserve.
