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Last Update: 06-Nov-12 10:49 ET
S&P Energy Index is trading higher, outperforming the S&P 500
The S&P Energy Sector +1.0% is trading above the broader market at +0.5% Dec crude oil is +0.9% at $86.45/barrel, Dec natural gas is +0.5% at $3.57/MMBtu, Dec RBOB is +1.7% at $2.66/gallon, and Dec heating oil is +0.6% at $3.00/gallon. Trading higher following earnings/guidance: ALJ (+9.9%), EOG (+5.1%), CVI (+4.7%), CLNE (+2.6%), TTI (+2.2%), PAA (+1.9%), GEL (+1.3%), MRO (+1.0%), MMLP (+0.6%), CMLP (+0.5%), BBEP (+0.5%); Trading lower: KWK (-13.6%), AREX (-6.1%), OXF (-3.0%), TDW (-1.7%), DNR (-1.4%), CRZO (-0.9%), OPNG (-0.5%), NRP (-0.3%). Gainers on news: PSX (+3.3%) Phillips 66 filed for a mixed securities shelf offering for an undisclosed amount, NOA (+3.0%) North American Energy announced five-year mining services contract, XEC (+2.9%) Cimarex announced sale of $294 mln certain non-core long-lived oil and gas properties in Texas, WLB (+2.8%) Westmoreland Coal disclosed that it received an imminent danger order at its Rosebud Mine in Colstrip, Montana, FXEN (+2.5%) FX Energy reported Frankowo-1 well flows gas; updateed operations, MWE (+0.9%) MarkWest Energy and Antero Resources announced agreement to construct midstream infrastructure in the Utica Shale, APL (+0.5%) Atlas Pipeline filed for offering of common units representing limited partner interests having an aggregate offering price of up to $150 mln, BBEP (+0.5%) Breitburn Energy announced the retirement of Randall H. Breitenbach as President and appointment of Mark L. Pease as President and COO, ZAZA (+0.1%) ZaZa Energy announced Eaglebine and Eagle Ford drilling operations; Eaglebine drilling completed; hydraulic fracturing to begin immediately. Decliners on news: PWE (-3.9%) Penn West Energy announced that Hilary Foulkes, Executive Vice President and Chief Operating Officer, has left the organization effective immediately.
Broker Calls: TESO (+8.9%) Tesco upgraded at FBR Capital; tgt raised to $12, PVA (+5.9%) Penn Virginia upgraded at Stifel Nicolaus; tgt $6.50, FANG (+0.3%) Diamondback Energy initiated with an Outperform at Wells Fargo and at Credit Suisse; initiated with a Buy at Sun Trust Rbsn Humphrey and at Sterne Agee; initiated with a Hold at Wunderlich; tgt $18, PDS (-1.3%) Precision Drilling downgraded at Jefferies, TS (-1.1%) Tenaris: Heard downgraded at Goldman.
Broker Calls: TESO (+8.9%) Tesco upgraded at FBR Capital; tgt raised to $12, PVA (+5.9%) Penn Virginia upgraded at Stifel Nicolaus; tgt $6.50, FANG (+0.3%) Diamondback Energy initiated with an Outperform at Wells Fargo and at Credit Suisse; initiated with a Buy at Sun Trust Rbsn Humphrey and at Sterne Agee; initiated with a Hold at Wunderlich; tgt $18, PDS (-1.3%) Precision Drilling downgraded at Jefferies, TS (-1.1%) Tenaris: Heard downgraded at Goldman.
