Energy Sector Update for 01/23/2023: AQUA, XYL, NE, BKR
Energy stocks were advancing Monday afternoon, with the NYSE Energy Sector Index rising 0.8% and the Energy Select Sector SPDR Fund (XLE) up 1.0%. The Philadelphia Oil Service Sector index and the Dow Jones US Utilities Index both were posting around 0.6% gains.
West Texas Intermediate crude oil was rising 0.8% at $82.27 per barrel while North Sea Brent crude also was advancing 1.2% to $88.64 per barrel. Henry Hub natural gas futures were 5.2% higher at $3.34 per 1 million BTU.
In company news, Evoqua Water Technologies (AQUA) rose over 14% after the water treatment company agreed to a $7.5 billion buyout offer from water infrastructure firm Xylem (XYL), with investors receiving 0.48 of a Xylem share for each of the Evoqua shares. The deal values Evoqua at around $52.89 a share, or about 29% above Friday's closing price. Xylem shares were dropping almost 9% this afternoon.
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