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Holly Energy Partners advanced 2.4%, the highest gainer in a week when most energy stocks ended in the red.
Idemitsu Kosan, in the wake of better-than-expected earnings, rose 1.6%. Net profit soared to $750 million. According to International Resource News, the company is in discussions to invest in the Nghi Son refinery project in Vietnam.
Linc Energy rose by a marginal 0.2%.
STR Holdings moved higher on better-than-estimated results. First-quarter sales were $92.9 million, compared to an estimated $92.9 million. Adjusted EPS was 33 cents against the estimated 32 cents.
SandRidge was the top loser, declining 16.2% during the week after reporting disappointing earnings. Net loss for the first quarter of 2011 was $10.1 million against an estimated profit of $5.4 million. Last year, net profit for the same quarter was $12.42 million. Consequently, EPS was negative at 2 cents, compared to estimates of 1.8 cents for the quarter.
First Oil dipped 15.8% during the week after failing to meet EPS and revenue estimates. The company reported first quarter EPS of 19 cents against the estimated 34 cents. Revenue was $203.1 million compared to $232.4 million in the quarter.
Brigham Exploration plunged 15.4% during the week.
Vestas Wind Systems lost 15.1% on a brokerage downgrade. Goldman Sachs cut Vestas to neutral on weak first quarter results. The brokerage firm cut the price target to DK180 ($34.60) from DK220 ($42.30).
Other decliners were RPC, Dril-Quip and
Unit Corporation(UNT - Get Report), down 14.8%, 14.7% and 14.4%, respectively.
SM Energy(SM - Get Report) shed 14% after a brokerage downgrade. Equity analyst David Tameron of Wells Fargo cut SM Energy stock to market perform from outperform.
Imarex Energy(XEC - Get Report) declined 13.8% last week on lower-than-estimated EPS. For first quarter 2011, EPS was reported at $1.37 per share, compared to the consensus estimate of $1.58. Revenue for the quarter slipped 5% to $426.6 million from the same period last year, beating the consensus estimate of $413.7 million.
Comstock Resources(CRK) shed 13.6% during the week.
Helmerich & Payne(HP) declined 13.1% last week on a brokerage downgrade. Equity analyst Charles Minervino of Susquehanna downgraded the stock to neutral from positive. The 12-month target price is $72 per share.
Pioneer Natural Resources(PXD) slumped 12.9% last week.
OGX Petroleo(OGXPY) fell 12.7% last week. UBS cut the stock's price target on the expectation that first crude oil production from the Waimea prospect could be delayed. The company reported a net loss of $33.9 million in the first quarter compared to $56.9 million in the same period last year.
Helix Energy Solutions(HLX),
Petroleum Geo Services(PGSVY),
Atlas Energy(ATLS) and
Atlas Pipeline Partners(APL) wiped out 12.6%, 11.8%, 11.7%, 11.5%, 11.5%, 11.4% and 11.4%, respectively.
Murphy Oil Corporation(MUR) lost 11.4% during the week. The company's lower-than-expected second-quarter production guidance did not excite the market. Besides, JPMorgan has an underweight rating on the stock with a price target of $73.4.
Royal Dutch Shell(RDS/A),
Petroleo Brasileiro(PBR) and
Total (TOT) erased 7.5%, 7.3%, 8% and 8.1%, respectively.