3 Energy Stocks That Surged More Than 10% This Week

The energy market was relatively tame this week, despite the fact

that OPEC was meeting. That meeting turned out to be rather mundane as OPEC stuck with its

plan, which was largely expected. That said, while OPEC didn't drive oil stocks this week,

there was some noteworthy news that fueled double-digit

rallies in the stock prices of thee energy-related companies.

Photo credit: TaxCredits.net

What:Teekay Tankers’ (NYSE: TNK) stock rose more than 11% this week.

So What: Key driver: Surging demand

for oil tankers is leading to strong daily rates for tankers

In addition to that driver, Teekay also announced a $80 million equity distribution agreement with Evercore Group

Agreement enables Teekay to raise capital, if needed

Now What: Daily rates for

supertankers are at rates not seen since 2008

Key takeaway: Higher daily rates are great for tanker companies as it drives higher cash flow

What:Biofuel maker Renewable Energy Group (NASDAQ: REGI) jumped almost 13%

this week.

So What: Key driver: The EPA

released a proposal setting the standard for renewable fuel mandates

As a result of that proposal, Renewable Energy Group’s stock was upgraded to “overweight” by Piper Jaffray

Now What: The proposed mandate lifts

some of the regulatory overhang impacting the company

Key takeaway: The proposal reduces uncertainty and it pushes for the growing use of advanced biofuels over the next few years, which are both positives for REG

What:Shares of oil and gas driller Halcon Resources (NYSE: HK) surged more than 14%

this week.

So What: Key driver: Halcon Resources

disclosed that CEO Floyd Wilson bought stock in open market transactions

Wilson bought 1 million shares paying an average cost of $1.03 per share

The CEO now directly owns 4.75 million shares valued at $4.9 million

Now What: Insider buying is seen as a

bullish sign by investors In this case, the CEO grew

his stake in the company by 20%

Key takeaway: Despite the bullish sign, Wilson’s direct ownership is still very minor at less than 1% of outstanding shares

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