Top Energy Stocks
Energy stocks continued to extend their prior gains on Friday, with the NYSE Energy Sector Index rising more than 0.9% while shares of energy companies in the S&P 500 were up almost 1.2% as a group.
In company news, natural gas and water pipeline manufacturer ZK International Group ( ZKIN ) soared in its Friday debut, rising as much as nearly 74% to a first-day high of $8.68 a share after earlier pricing its initial public offering of almost 1.1 million shares of its common stock at $5 each.
The stock opened today with a 52% bulge over the IPO price at $7.61 a share about an hour into Friday’s trading session. It climbed to its apparent high for today by 1 p.m. ET and has stayed within 20 cents or so of that peak in the hours since.
In other sector news,
(+) NAO, Bjorn Giaever named chief financial officer at both Nordic American Offshore and Nordic American Tankers ( NAT ). Also, executive chairman Herbjom Hansson and his son Alexander today buy 500,000 NAO shares for $1.34 each, boosting their total stake to 11.6%.
(-) STNG, Completes $225 mln acquisition of Navig8 Product Tankers, with Navig8 shareholders spliting 55 million shares and gaining a 19.7% stake in the combined petroleum-shipping company.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.