NEW YORK ( TheStreet) - In the energy sector, SM Energy (SM - Get Report), Petrobras Argentina (PZE - Get Report) advanced last week, whereas Frontline (FRO - Get Report), CGG Veritas (CGV), Transatlantic Petroleum (TAT - Get Report), STR Holdings (STRI - Get Report) and Exterran Holdings (EXH - Get Report) eroded substantial value.
Among the week's advancers, SM Energy topped the charts gaining 4.4% as it announced the sale of mineral rights acreage in the Eagle Ford basin in Texas for about $227.4 million. The company also reported positive second-quarter earnings. Jefferies upgraded the stock to buy from hold with a target price of $114 per share.
Frontline was the top lagger, shedding 28%. Jefferies equity analyst Douglas Mavrinac downgraded the stock to hold from buy with a 12-month target price of $10 per share.
also published an article citing slow demolition rates hurting revenue for tankers.
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CGG Veritas shed 27% after second-quarter results fell below guidance. Operating income came at $16 million, 60% below consensus estimates.
Transatlantic Petroleum plummeted 27% at close last week.
STR Holdings plunged 24% as Macquarie Research equity analyst Kelly Dougherty downgraded the stock to underperform from neutral with a 12-month target price of $11.5 per share.
(EXH - Get Report)
retreated 23% after Credit Suisse downgraded the stock to neutral from outperform with a target price of $17 per share from $32.
Among other losers last week,
(SOL - Get Report)
Cobalt International Energy
Helmerich & Payne
(HP - Get Report)
shed 20%, while
(NBR - Get Report)
(MRO - Get Report)
erased 19% after the company reported disappointing earnings. The stock was downgraded to neutral from outperform at Credit Suisse with a target price of $36 per share.
(XEC - Get Report)
shed 18% as the company lowered production guidance for the full year. Tudor Pickering cut the stock to accumulate from buy.
(CLR - Get Report)
erased 18% after a cut to hold at Tudor Pickering.
(CRR - Get Report)
(PTEN - Get Report)
relinquished 17% and 16.7%, respectively.
(RES - Get Report)
Energy XXI (Bermuda)
(EXXI - Get Report)
trimmed 16.5% and 16.4%, respectively.