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Last Update: 30-Jan-13 12:15 ET
S&P Energy Index is trading lower, underperforming the market
The S&P Energy Sector (-0.3%) is trading below the broader market (flat). Mar crude oil is +0.1% at $97.62/barrel, Mar natural gas is +1.0% at $3.29/MMBtu, Mar RBOB is +1.8% at $3.03/gallon, and Mar heating oil is +0.1% at $3.10/gallon. Trading higher following earnings/guidance: PSX (+3.3%), MPLX (+1.4%); Trading lower: SAPMY (-11.4%), HES (-1.9%), MPC (-0.5%).
Gainers on news: CPNO (+15.4%) Copano Energy to be acquired by Kinder Morgan Energy Partners (KMP) for price of ~$5 bln, including the assumption of debt; consideration to Copano unitholders valued at $40.91 per Copano common unit, MILL (+6.0%) Miller Energy Resources completed RU-4 gas well; RU-4 successfully tests at 1.7 million cubic feet per day, CHK (+5.3%) Chesapeake Energy announced CEO succession plan; Co-founder, CEO and President, Aubrey K. McClendon, has agreed to retire, PXD (+1.7%) Pioneer Natural Resources discontinuing divesture process for Barnett Shale properties, announces $1.7 billion horizontal Wolfcamp Shale transaction with Sinochem, EXLP (+1.0%) Exterran increased cash distribution ~1% to $0.5125 per limited partner unit. Decliners on new: PBR (-5.1%) Petrobras Brasileiro announced price adjustment in 6-K filing, AMID (-1.0%) American Midstream Partners disclosed it has entered into second waiver credit agreement, ALDW (-0.7%) Alon USA Partners announced maintenance work on Big Spring refinery unity, BP (-0.2%) BP announced U.S. District Court's acceptance of plea resolving all criminal claims against company relating to Deepwater Horizon accident. Broker calls: CHK (+5.4%) Chesapeake Energy upgraded at Stifel Nicolaus; tgt $25, SZYM (+3.3%) Solazyme initiated with Outperform at Cowen, SAPMY (-11.4%) Saipem SpA downgraded at Credit Suisse, Deutsche Bank, and at Exane BNP Paribas, BTU (-4.6%) Peabody Energy downgraded at Credit Agricole, TOO (-1.9%) Teekay Offshore downgraded at Raymond James, HES (-1.9%) Hess downgraded at CapitalOne, VLO (-1.7%) Valero Energy target raised to $48 from $40 at UBS; target raised to $44 at Howard Weil; target raised to $55 at Oppenheimer; target raised to $55 at Dahlman Rose, ORIG (-0.9%) Ocean RIG UDW initiated with an Outperform at Imperial Capital; tgt $19.50, XOM (-0.6%) Exxon Mobil downgraded at Macquarie, E (-0.5%) ENI S.p.A.: Heard named long Research Tactical Idea at Morgan Stanley, BP (-0.2%) BP: Heard Morgan Stanley out cautious on BP.
Gainers on news: CPNO (+15.4%) Copano Energy to be acquired by Kinder Morgan Energy Partners (KMP) for price of ~$5 bln, including the assumption of debt; consideration to Copano unitholders valued at $40.91 per Copano common unit, MILL (+6.0%) Miller Energy Resources completed RU-4 gas well; RU-4 successfully tests at 1.7 million cubic feet per day, CHK (+5.3%) Chesapeake Energy announced CEO succession plan; Co-founder, CEO and President, Aubrey K. McClendon, has agreed to retire, PXD (+1.7%) Pioneer Natural Resources discontinuing divesture process for Barnett Shale properties, announces $1.7 billion horizontal Wolfcamp Shale transaction with Sinochem, EXLP (+1.0%) Exterran increased cash distribution ~1% to $0.5125 per limited partner unit. Decliners on new: PBR (-5.1%) Petrobras Brasileiro announced price adjustment in 6-K filing, AMID (-1.0%) American Midstream Partners disclosed it has entered into second waiver credit agreement, ALDW (-0.7%) Alon USA Partners announced maintenance work on Big Spring refinery unity, BP (-0.2%) BP announced U.S. District Court's acceptance of plea resolving all criminal claims against company relating to Deepwater Horizon accident. Broker calls: CHK (+5.4%) Chesapeake Energy upgraded at Stifel Nicolaus; tgt $25, SZYM (+3.3%) Solazyme initiated with Outperform at Cowen, SAPMY (-11.4%) Saipem SpA downgraded at Credit Suisse, Deutsche Bank, and at Exane BNP Paribas, BTU (-4.6%) Peabody Energy downgraded at Credit Agricole, TOO (-1.9%) Teekay Offshore downgraded at Raymond James, HES (-1.9%) Hess downgraded at CapitalOne, VLO (-1.7%) Valero Energy target raised to $48 from $40 at UBS; target raised to $44 at Howard Weil; target raised to $55 at Oppenheimer; target raised to $55 at Dahlman Rose, ORIG (-0.9%) Ocean RIG UDW initiated with an Outperform at Imperial Capital; tgt $19.50, XOM (-0.6%) Exxon Mobil downgraded at Macquarie, E (-0.5%) ENI S.p.A.: Heard named long Research Tactical Idea at Morgan Stanley, BP (-0.2%) BP: Heard Morgan Stanley out cautious on BP.
