SM Energy Co. (NYSE:SM) blew up Wednesday trading with a daily percentage gain of 8.11% and closed at $51.56 per share. SM Energy announced today that their Eagle Ford shale program averaged 230 MMCFE/d in July 2012 and that for the second quarter of 2012, net production in this program averaged 207 MMCFE/d. SM Energy also announced that it is starting up additional tank batteries to allow for continued production growth in its operated Eagle Ford shale program.
Cosan Limited (USA) (NYSE:CZZ) shares rose 3.25% during Wednesday trading and closed at $14.61 per share. Yesterday, Zacks Investment Services reiterated a neutral rating on shares of CZZ and noted a $15 dollar price target.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) shares rose 2.14% before closing at $15.24 to cap off Wednesday’s trading session. Analysts at Credit Agricole put a buy rating on shares of PTEN today and have a price target of $19.00 dollars on shares of the company.
Delek US Holdings, Inc. (NYSE:DK) shares dropped -5.44% and closed at $25.90 per share. The company sold 3 million shares at $25.35 for a combined valuation of $76,050,000 dollars according to a ‘form 4’ released by the company.
Shares of BP plc (ADR) (NYSE:BP) gapped south at the market open today beneath the 50 SMA and were unable to recover the loss before trading ended. Shares of BP closed down -3.05% at $40.36 per share. The U.S. Department of Justice (DoJ) has reportedly filed a brief accusing the company of “gross negligence & wilful misconduct” regarding the Macondo oil spill in the Gulf of Mexico during April, 2010.
