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Last Update: 31-Oct-12 10:36 ET
S&P Energy Index is trading higher, in-line with the S&P 500
The S&P Energy Sector +0.3% is trading even with the broader market at +0.3% Dec crude oil is +0.9% at $86.41, Dec natural gas is +1.6% at $3.75/MMBtu, Dec RBOB is +1.7% at $2.66/gallon, and Dec heating oil is -0.2% at $3.6/gallon. Trading higher following earnings/guidance: GPRE (+16.1%), TOT (+1.8%), CLMT (+1.6%), CPLP (+1.0%), NKA (+1.0%), PSX (+0.8%), OKS (+0.5%), CKH (+0.3%), RDC (+0.2%); Trading lower: QEP (-6.4%), CAM (-5.0%), LGCY (-3.5%), GEVO (-1.9%), WTI (-0.4%), MMP (-0.1%).
Gainers on News: URRE (+12.3%) Uranium Resources announced positive results of groundwater study, MILL (+4.3%) Miller Energy Resources successfully restarted RU-1 oil well, GPOR (+3.3%) Gulfport Energy reported Ryser 1-25H tested at a peak rate of 1,488 barrels of condensate per day, 5.9 mln cubic feet per day of natural gas, and 649 barrels of natural gas liquids per day assuming full ethane recovery and a natural gas shrink of 21%, or 2,914 boepd, HUSA (+3.0%) Houston American energy provided update on Zorro Gris #1 well; co completed the drilling of the well to a total depth of 13,160', BBEP (+1.4%) Breitburn Energy increased quarterly cash distribution to $0.465 per unit from $0.460 per unit, CNX (+1.0%) CONSOL Energy's Miller Creek surface operations to be idled. Decliners on News: OXF (-28.8%) Oxford Resource Partners trading lower after announcing reduced cash distribution on Oct 29, FXEN (-12.6%) FX Energy to plug Kutno-2 well, QRE (-1.5%) QR Energy LP extended 9.25% senior notes exchange offer due to inclement weather and tenders 100% of senior notes, SE (-0.3%) Spectra Energy increased quarterly dividend by 8.9% to $0.305 per share; co to acquire one-third interest in Sand Hills Pipeline and Southern Hills Pipeline.
Broker Calls: SUSP (+2.7%) Susser Petroleum Partners initiated with an Outperform at RBC Capital Mkts, an Outperform at Raymond James, a Buy at BofA/Merrill, and with a Neutral at UBS, STO (+0.4%) Statoil ASA downgraded at HSBC Securities, FST (flat) Forest Oil upgraded at RBC Capital Mkts, FXEN (-13.3%) FX Energy tgt lowered to $8 from $8.50 at C.K. Cooper, QEP (-6.4%) QEP Resources downgraded at Raymond James, CLNE (-5.0%) Clena Energy Fuels downgraded at Piper Jaffray, HK (-2.5%) Halcon Resources initiated with a Neutral at Goldman and a Neutral at JP Morgan.
Gainers on News: URRE (+12.3%) Uranium Resources announced positive results of groundwater study, MILL (+4.3%) Miller Energy Resources successfully restarted RU-1 oil well, GPOR (+3.3%) Gulfport Energy reported Ryser 1-25H tested at a peak rate of 1,488 barrels of condensate per day, 5.9 mln cubic feet per day of natural gas, and 649 barrels of natural gas liquids per day assuming full ethane recovery and a natural gas shrink of 21%, or 2,914 boepd, HUSA (+3.0%) Houston American energy provided update on Zorro Gris #1 well; co completed the drilling of the well to a total depth of 13,160', BBEP (+1.4%) Breitburn Energy increased quarterly cash distribution to $0.465 per unit from $0.460 per unit, CNX (+1.0%) CONSOL Energy's Miller Creek surface operations to be idled. Decliners on News: OXF (-28.8%) Oxford Resource Partners trading lower after announcing reduced cash distribution on Oct 29, FXEN (-12.6%) FX Energy to plug Kutno-2 well, QRE (-1.5%) QR Energy LP extended 9.25% senior notes exchange offer due to inclement weather and tenders 100% of senior notes, SE (-0.3%) Spectra Energy increased quarterly dividend by 8.9% to $0.305 per share; co to acquire one-third interest in Sand Hills Pipeline and Southern Hills Pipeline.
Broker Calls: SUSP (+2.7%) Susser Petroleum Partners initiated with an Outperform at RBC Capital Mkts, an Outperform at Raymond James, a Buy at BofA/Merrill, and with a Neutral at UBS, STO (+0.4%) Statoil ASA downgraded at HSBC Securities, FST (flat) Forest Oil upgraded at RBC Capital Mkts, FXEN (-13.3%) FX Energy tgt lowered to $8 from $8.50 at C.K. Cooper, QEP (-6.4%) QEP Resources downgraded at Raymond James, CLNE (-5.0%) Clena Energy Fuels downgraded at Piper Jaffray, HK (-2.5%) Halcon Resources initiated with a Neutral at Goldman and a Neutral at JP Morgan.
