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Last Update: 18-Dec-12 11:16 ET
S&P Energy Index is trading higher, outperforming the S&P 500
The S&P Energy Sector +1.2% is trading above the broader market at +0.7%. Feb crude oil is +0.8% at $88.39/barrel, Jan natural gas is +1.9% at $3.42/MMBtu, Jan RBOB is +1.6% at $2.70/gallon, and Jan heating oil is +1.4% at $3.00/gallon. Gainers on news: HEP (+5.6%) Holly Energy Partners: Alerian announced that HEP will be added to the Alerian MLP Index, BHI (+4.2%) Baker Hughes warned that N. America rev and profit margins are expected to be lower than previous expectations, PVA (+3.6%) Penn Virginia announced increased net acreage in its Lavaca County Eagle Ford Shale position due to non-consent drilling elections by its Partner, GPOR (+3.6%) Gulfport Energy announced 9 mln share public offering of common stock; announced proposed acquisition of additional Utica Acreage; provided operational update: sees 2012 production of 2.55-2.6 mln BOE, OIS (+3.2%) Oil States International announced $300 mln offering of senior unsecured notes, LPI (+3.0%) Laredo Petroleum's CFO to retire end of March 2013; appointed Richard Buterbaugh as Chief Financial Officer, HK (+2.8%) Halcon Resources: Canada Pension Plan disclosed 16.13% stake in 13D filing out last night; intent to appointment of a representative to the Board, PSTR (+2.1%) PostRock Energy approved what is expected to be a final $13 mln investment by White Deer Energy, RIG (+1.8%) Transocean announced the value of new contracts or extensions since the November 18, 2012 fleet update summary is ~$119 mln, COP (+0.9%) ConocoPhillips announced intended sale of Algerian business unit for $1.75 bln, MMR (+0.1%) McMoRan Expl: Leon Cooperman disclosed 7.5% stake in 13G filing. Decliners on news: URRE (-17.6%) Uranium Resources announced it will seek shareholder approval of a reverse stock split; announced plans to conduct a shareholder rights offering.
Broker calls: CRZO (+6.4%) Carrizo Oil & Gas upgraded at CapitalOne, SM (+6.0%) SM Energy tgt cut to $56 from $93 at Jefferies, LPI (+3.0%) Laredo Petroleum tgt lowered to $25 from $28 at C.K. Cooper, TESO (+3.0%) Tesco initiated with an Outperform at Clarkson Capital, GASS (+2.9%) Stealthgas initiated with a Buy at Global Hunter Securities; tgt $10, HK (+2.8%) Halcon Resources downgraded at CapitalOne, APL (+2.4%) Atlas Pipeline initiated with a Outperform at Robert W. Baird; tgt $39, LNG (+2.3%) Cheniere Energy tgt to $25 from $22 at Credit Suisse, NR (+2.1%) Newpark Res initiated with Market Perform at Clarkson Capital, MEMP (+1.9%) Memorial Production Partners upgraded at Raymond James, TPLM (+1.7%) Triangle Petroleum assumed with a Buy at Canaccord Genuity; tgt $10, RTK (+1.6%) Rentech target lowered to $3.68 at Feltl & Co., ARP (+1.5%) Atlas Resource Partners initiated with an Outperform at Robert W. Baird; tgt $29, CJES (+1.3%) C&J Energy initiated with a Buy at Goldman, HFC (+1.0%) HollyFrontier tgt raised to $55 at Oppenheimer, END (+0.5%) Endeavour Intl target lowered to $9 from $11 at Wunderlich; target lowered to $10 at C.K. Cooper, ATLS (+0.3%) Atlas Resource Partners \initiated with a Neutral at Robert W. Baird; tgt $37, DKL (-0.3%) Delek Logistics Partners initiated with an Outperform at Wells Fargo.
Broker calls: CRZO (+6.4%) Carrizo Oil & Gas upgraded at CapitalOne, SM (+6.0%) SM Energy tgt cut to $56 from $93 at Jefferies, LPI (+3.0%) Laredo Petroleum tgt lowered to $25 from $28 at C.K. Cooper, TESO (+3.0%) Tesco initiated with an Outperform at Clarkson Capital, GASS (+2.9%) Stealthgas initiated with a Buy at Global Hunter Securities; tgt $10, HK (+2.8%) Halcon Resources downgraded at CapitalOne, APL (+2.4%) Atlas Pipeline initiated with a Outperform at Robert W. Baird; tgt $39, LNG (+2.3%) Cheniere Energy tgt to $25 from $22 at Credit Suisse, NR (+2.1%) Newpark Res initiated with Market Perform at Clarkson Capital, MEMP (+1.9%) Memorial Production Partners upgraded at Raymond James, TPLM (+1.7%) Triangle Petroleum assumed with a Buy at Canaccord Genuity; tgt $10, RTK (+1.6%) Rentech target lowered to $3.68 at Feltl & Co., ARP (+1.5%) Atlas Resource Partners initiated with an Outperform at Robert W. Baird; tgt $29, CJES (+1.3%) C&J Energy initiated with a Buy at Goldman, HFC (+1.0%) HollyFrontier tgt raised to $55 at Oppenheimer, END (+0.5%) Endeavour Intl target lowered to $9 from $11 at Wunderlich; target lowered to $10 at C.K. Cooper, ATLS (+0.3%) Atlas Resource Partners \initiated with a Neutral at Robert W. Baird; tgt $37, DKL (-0.3%) Delek Logistics Partners initiated with an Outperform at Wells Fargo.
