EmailThe S&P Energy Sector +0.3% is trading below the broader market at +1.0% Dec crude oil is +0.9% at $86.99, Dec natural gas is -0.1% at $3.69/MMBtu, Dec RBOB is +0.9% at $2.66/gallon, and Dec heating oil is -0.9% at $3.03/gallon. Trading higher following earnings/guidance: SM (+11.5%), UNT (+6.1%), PVA (+4.4%), UPL (+4.3%), PXP (+3.9%), EXH (+3.9%), PXD (+3.7%), CJES (+3.7%), EPL (+3.4%), SU (+3.5%), HOS (+2.9%), ESV (+2.9%), RDS.A (+2.8%), NGLS (+1.4%), RNO (+1.3%); Trading lower: BRY (-10.4%), BBG (-9.0%), SFY (-7.9%), CCJ (-7.0%), WPX (-6.4%), END (-6.5%), TSO (-3.4%), WMB (-3.4%), NOA (-3.1%), KEG (-2.9%), TGE (-2.2%), WNR (-1.9%), WPZ (-1.9%), OIS (-1.9%), PKD (-1.6%), PDCE (-1.3%), MPC (-1.3%), SE (-1.3%).
Gainers on news: PEIX (+3.1%) Pacific Ethanol announced new $10.0 mln revolving credit line, PGH (+3.0%) Pengrowth Energy reported record quarterly average production of 94,284 boepd, up from 74,568 boe/d in 3Q11, GDP (+3.0%) Goodrich Petroleum: SAC Capital disclosed 5.1% passive stake in 13G filing, QRE (+2.4%) QR Energy LP to acquire $215 mln of oil properties; expected to be immediately accretive to Distributable Cash Flow, REGI (+2.4%) Renewable Energy acquired Texas biorefinery for $300K in cash and 900K shares of its common stock, NGS (+1.1%) Natural Gas Services filed for a $150 mln mixed securities shelf offering, NTI (+0.4%) Northern Tier Energy announced offering of $275 mln in aggregate principal amount of senior secured notes due 2020, CHK (+0.4%) Chesapeake Energy announced arrangement of $2.0 bln unsecured term loan facility. Decliners on news: BBG (-8.4%) Bill Barrett announced $335 mln sale of natural gas assets to an affiliate of Vanguard Natural Resources (VNR), WPZ (-1.9%) Williams Partners signed agreement to purchase Williams' (WMB) Gulf olefins business; expects addition of olefins production to its business will be accretive to distributable cash flow. Broker Calls: SM (+11.8%) SM Energy upgraded at Howard Weil, LGCY (+2.8%) Legacy Reserves upgraded at Global Hunter Securities; tgt $31, CAM (+0.9%) Cameron Fair Value est lowered to $56 per share from $59 at Dahlman Rose, PTR (+0.9%) PetroChina downgraded at HSBC Securities, TOT (+0.3%) Total S.A. upgraded at Societe Generale, TLM (+0.64%) Talisman Energy downgraded at Citigroup, BRGYY (-4.3%) BG Group downgraded at BofA/Merrill, RDC (-2.4%) Rowan Cos downgraded at Tudor Pickering, MMP (-1.7%) Magellan Midstream downgraded at Credit Suisse.
