3 Energy Stock Stories to Fuel Midweek Investment Chatter

Exxon Mobil Corporation (NYSE:XOM): Closing price $89.43

On Wednesday, Exxon Mobil’s board declared a cash dividend of 63 cents per share on the common Stock, payable on June 10 to shareholders of record at the close on May 13. The second quarter dividend is comparable to 57 cents per share paid in the first quarter. The corporation has increased its annual dividend payment to shareholders for 31 straight years.

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XOM

TransCanada Corporation (NYSE:TRP): Closing price $48.70

Joe Oliver, Canada’s minister for natural resources, remarked on Wednesday that a United States rejection of the proposed Keystone XL pipeline “would represent a serious reversal in our long-standing energy relationship.” Oliver’s comments at a Washington think tank were the most recent in a series of overt nudges to the Obama administration to okay the 875-mile pipeline that would transport oil sands from Alberta to Nebraska, and ultimately to refineries on the Gulf Coast. The Minister continued, “Make no mistake: Canadian resource development and export, including from the oil sands, will continue, Keystone or no Keystone.”

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TRP

Magnum Hunter Resources Corporation (NYSE:MHR): Closing price $2.86

The corporation reported Wednesday that it has closed on the divestiture of all of its ownership interests in its Eagle Ford Shale properties in Gonzales and Lavaca Counties of South Texas to a wholly-owned subsidiary of Penn Virginia Corporation, for a an aggregate price of $401 million. The total consideration was comprised of $361 million in cash and 10 million shares of common stock of Penn Virginia Corporation, valued at $4 per share, before accounting for customary purchase price adjustments. The effective date of the sale was January 1, 2013.

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MHR

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