U.S. Stock Update: Gaining energy shares and an advancement in Japanese economic data, forced Asian stock markets to mount, while U.S. stock futures dropped down Wednesday.
Benchmark U.S. crude facilitated Wednesday in Asia, lessening 84 cents to $52.21 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used as a benchmark for international prices, dipped 60 cents to $57.35.
Ultimate Gainer Among Basic Material Shares: EnerJex Resources Inc (NYSEMKT:ENRJ) skyrocketed 91.25%, and closed at $3.06, during the last session, soon after an independent exploration and production company, recently declared that it has confirmed a monthly cash dividend on its non-convertible 10.0% Series A Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Stock”). The dividend is for the month of February 2015 and is payable on February 28, 2015 to holders of record at the close of business on February 16, 2015.
EnerJex Resources (ENRJ), is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties located in the mid-continent region of the United States.
Following are few of other basic material stocks that followed oil prices gaining behavior, and skyrocketed during their last trade:
SandRidge Energy Inc (NYSE:SD) inclined 18.71%, and closed at $1.84, during the last session, following the news that SandRidge will publicize its 2014 fourth quarter and full-year financial and operational results after the close of trading on the New York Stock Exchange on Thursday, February 26, 2015.
SandRidge Energy (SD) together with its subsidiaries explores for and produces oil and natural gas properties primarily in the Mid-Continent region of the United States.
Molycorp Inc (NYSE:MCP) increased 67.90%, and closed at $0.798, during the last session, soon after the company stated rare earth production inclined in Q4 at Molycorp’s Mountain Pass Facility.Company officials said that the higher production volumes they expect at Mountain Pass in 2015 should coincide with relatively strong demand the Company is seeing for products such as the magnetic rare earth material Neodymium/Praseodymium, Lanthanum, and Light Rare Earth Concentrate (“LREC”). Molycorp processes Mountain Pass LREC at vertically integrated downstream processing facilities into a variety of value-added engineered materials, counting rare earth magnetic materials for multiple downstream markets and vehicle emissions catalysts that consume cerium and other materials.
Molycorp (MCP) is an advanced material manufacturer. With 25 locations across 10 countries, the Company produces a range of specialized products from all 16 naturally occurring rare earths (lights, mids, and heavies) and five rare metals (gallium, indium, rhenium, tantalum, and niobium).
Oasis Petroleum Inc (NYSE:OAS) enhanced 15.52%, and closed at $17.64, during the last session, as oil prices gained which force several energy stocks to move up. OAS itself following the commodity price’s trend.
Oasis Petroleum (OAS) an independent exploration and production company, focuses on the acquisition and development of oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin.
California Resources Corp (NYSE:CRC) soared 17.66%, and closed at $6.13, during the last session, after in accordance to filing on Monday with the SEC, Eric W. Mandelblatt’s Soroban Capital Partners disclosed that it has taken a 10% position in the company. Soroban is the first hedge fund to disclose such a position in the recently spun-off company.
California Resources (CRC) is an independent oil and natural gas exploration and production company. The organization is focused on assets in California.
