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Last Update: 05-Nov-12 10:05 ET
S&P Energy Index is slightly lower, outperforming the S&P 500
The S&P Energy Sector -0.1% is trading above the broader market at -0.3% Dec crude oil is +0.2% at $85.04/barrel, Dec natural gas is +0.3% at $3.56/MMBtu, Dec RBOB is flat at $2.57/gallon, and Dec heating oil is -0.1% at $2.94/gallon. Trading higher following earnings/guidance: RIG (+5.2%), LPH (+3.4%), REN (+1.3%), KOS (+0.8%); Trading lower: CGV (-2.6%), LNG (-2.4%), LRE (-1.5%), CQP (-1.0%), TESO (-0.1%). Sector News: EQU (+20.7%) Equal Energy announced sale of Lochend Cardium assets for $62 mln, XCO (+3.4%) Exco Resources announced a partnership with Harbinger Group (HRG) related to conventional oil and gas properties in Texas and Louisiana, LPH (+3.4%) LOngwei Petroleum announced htat its first fiscal quarter ended Sep 30, 2012 sales volume increased 17.8% y/y, NRGM (+2.6%) Inergy Midstream to acquire Rangeland Energy, owner and operator of the COLT crude oil logistics hub, for $425 mln, NTI (+2.4%) Northern Tier Energy priced $275 mln of 7.125% Senior Secured Notes notes due 2020, MPC (+1.0%) Marathon Petroleum announced second accelerated share repurchase program in 2012; announced it has entered into a $500 mln accelerated share repurchase,TRP (+0.1%) TransCanada won an additional $400 mln contract to build new natural gas pipeline infrastructure in Mexico.
Broker Calls: HES (+2.1%) Hess Upgraded at Global Hunter Securities; tgt raised to $65, SDT (+1.4%) SandRidge Mississippian Trust I upgraded at Wunderlich; tgt lowered to $20, EPB (+0.9%) El Paso Piepline Partners upgraded at Goldman, SXL (+0.9%) Sunoco Logistics upgraded at Goldman, CLR (+0.8%) Continental Resrouces upgraded at RBC Capital Markets, WPZ (+0.8%) Williams Partners upgraded at Goldman, BPL (+0.6%) Buckeye Partners upgraded at Deutsche Bank, PWE (-3.1%) Penn West Energy downgraded at Canaccord Genuity, NKA (-1.8%) Niska Gas Storage downgraded at Goldman, BRY (-0.6%) Berry Petroleum downgraded at Sterne Agee, SDR (-0.6%) Sandridge Mississippian Trust II downgraded at Wunderlich; tgt lowered to $22, OKS (-0.6%) ONEOK Partners upgraded at Goldman, SWN (-0.6%) Southwestern Energy downgraded at boutique firm; downgraded at FBR Capital; tgt $37, RDC (-0.4%) Rowan Cos downgraded at Dahlman Rose, WES (-0.3%) Western Gas Partners tgt raised to $56 at Ladenburg Thalmann, ENB (-0.1%) Enbridge upgraded at Goldman.
Broker Calls: HES (+2.1%) Hess Upgraded at Global Hunter Securities; tgt raised to $65, SDT (+1.4%) SandRidge Mississippian Trust I upgraded at Wunderlich; tgt lowered to $20, EPB (+0.9%) El Paso Piepline Partners upgraded at Goldman, SXL (+0.9%) Sunoco Logistics upgraded at Goldman, CLR (+0.8%) Continental Resrouces upgraded at RBC Capital Markets, WPZ (+0.8%) Williams Partners upgraded at Goldman, BPL (+0.6%) Buckeye Partners upgraded at Deutsche Bank, PWE (-3.1%) Penn West Energy downgraded at Canaccord Genuity, NKA (-1.8%) Niska Gas Storage downgraded at Goldman, BRY (-0.6%) Berry Petroleum downgraded at Sterne Agee, SDR (-0.6%) Sandridge Mississippian Trust II downgraded at Wunderlich; tgt lowered to $22, OKS (-0.6%) ONEOK Partners upgraded at Goldman, SWN (-0.6%) Southwestern Energy downgraded at boutique firm; downgraded at FBR Capital; tgt $37, RDC (-0.4%) Rowan Cos downgraded at Dahlman Rose, WES (-0.3%) Western Gas Partners tgt raised to $56 at Ladenburg Thalmann, ENB (-0.1%) Enbridge upgraded at Goldman.
