Energy sector finished higher on Friday, finishing the week high 2.9 percent, ahead of most S&P 500 Index subsectors.
Energy sector was the second best performer sector, trailing technology stocks. All energy stocks announced gains on Friday, with WPX Energy Inc (NYSE:WPX) and EOG Resources Inc (NYSE:EOG) at the top.
Hess Corp (NYSE:HES) stock hiked 1.1 percent. The company on Friday came out swinging against Institutional Investor Services, the proxy adviser that sided with activist shareholder Elliott Management.
ISS was the third proxy adviser to weigh up in the proxy war amid Hess and the hedge fund, with Egan Jones siding with Hess. Glass Lewis & Co supported Elliott earlier current week.
Hess Corp. (NYSE:HES) ended higher by 0.79 points or 10.09% to complete the day at 73.00. The total number of shares changed hands during the day was 4.78 million. After opening at $73.00, the stock hit as high as $73.91. However, it traded between $39.67 and$74.48 over the last twelve months.
EQT Corporation (NYSE:EQT) stock surged 1 percent. The corporation announced on Friday that it acquired 99,000 acres in the Marcellus and Utica shale fields and 10 wells from Chesapeake Energy Corporation (NYSE:CHK)for $113 million.
EQT Corporation (NYSE:EQT) closed yesterday at $75.13, a 0.98% increase. Around 2.03 million shares were traded, beating an-average trading volume of 2.03M shares. The company is now valued at around $11.30 B.
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