Sunday, July 10, 2011

US Energy Stocks: This Week's Winners and Losers

Key Energy Services(KEG_), EV Energy Partners(EVEP_), Tesoro(TSO_) and Complete Production Services(CPX_) were top performers last week, while J.A. Solar(JASO_), Forest Oil(FST_) and Trina Solar(TSL_) eroded substantial value.

Among the advancers the past week, Key Energy Services and EV Energy Partners topped the charts, gaining 10.9% and 10.8%, respectively.

Tesoro rose 10.7% over the week, as Barclays Capital has raised the stock's rating to overweight from equal weight with a target price of $37 per share. Tesoro's Los Angeles refinery, temporarily shutdown, is ramping up towards normal operations.

Complete Production Services rose 10.1% after J.P. Morgan rated the stock overweight with a target price of $42 per share.

InterOil(IOC_) and SunPower (SPWRA_) gained 9.8% and 9.5%, respectively.

Oil States International(OIS_) moved up 9.3% as CLSA has raised the stock's rating to buy from outperform. The brokerage has raised the target price to $95 per share from $94.

Halliburton advanced 9% this week.

G.T. Solar (SOLR_) rose 8.7% after receiving equipment orders worth $81.7 million from two customers in Asia. The orders were for equipment to produce poly-silicon used in the manufacture of solar cells.

Among other movers, Patterson-UTI Energy(PTEN_) advanced 8.6%, RPC Inc(RES_) rose 7.7%, Superior Energy Services(SPN_) grew 7.7% and Seacor Holdings(CKH_) added 7.4%,

Helmerich & Payne(HP_) moved up 7.4% last week after signing agreements to build and operate 12 FlexRigs, for delivery to eight exploration and production companies during fiscal 2012.

Oceaneering International(OII_) gained 7.1% during the week.

National-Oilwell Varco(NOV_) piled 6.8% on plans to acquire Ameron International, a manufacturer of fiberglass-composite pipes for a consideration of $85 per share in all an all-cash transaction valuing Ameron at $772 million, or 7.1 times its estimated 2012 EBITDA.

Other winners included Whiting Petroleum(WLL_) up 6.6%, while Continental Resources(CLR_) gained 6.3%. Atlas Energy(ATLS_) rose 6.2%, whereas Anadarko Petroleum (APC_) and Schlumberger(SLB_) gained 6.1% each. Nexen (NXY_) improved 6.0%, Concho Resources(CXO_) piled 5.8% and YPF (YPF_) advanced 5.8%.

J.A. Solar Holdings was the top lagger, shedding 8.2% as a drop in polysilicon prices could affect the company's competitiveness. The company has signed long-term purchase contracts with producers like GCL-Poly Energy Holdings and Wacker Chemie.

Forest Oil Corporation shed 7.5%.

Trina Solar declined 5.6% as Zacks has maintained a sell on the stock.(The Street)

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