Energy Stocks: Winners and Losers
NEW YORK (TheStreet) -- El Paso (EP), Atlas Energy (ATLS), Brigham Exploration Co. (BEXP) and Whiting Petroleum (WLL) showed strength this past week, whereas Suntech Power Holdings (STP), LDK Solar (LDK), Newfield Exploration (NFX) and Quicksilver Resources (KWK) lost considerable value.
El Paso led the pack of winners this past week, jumping 27.6%. Kinder Morgan recently announced it would acquire all the outstanding shares of El Paso in a transaction that will create the largest midstream in North America, with an enterprise value of around $94 billion and 80,000 miles of pipelines. The total purchase price is approximately $38 billion.
Atlas Energy climbed 25.8%.
Brigham Exploration improved 20.4%. Norwegian Oil & Gas major Statoil (STO) has acquired Brigham for approximately $4.4 billion. Statoil will pay $36.5 per share in an all-cash tender offer.Other movers were Whiting Petroleum (+15.4%), JA Solar Holdings (JASO) (+14.4%) and Oasis Petroleum (OAS) (+13.8%). Anadarko Petroleum (APC) moved up 12%. The stock was rated new overweight at Morgan Stanley with a target price of $100 a share. Denbury Resources (DNR) edged up 11.3%. SM Energy (SM) added 10.5%. Equity analyst John Nelson at Macquarie Research has raised the stock to outperform from neutral with a 12-month target price of $87.00 a share. EXCO Resources (XCO) and The Williams Cos. (WMB) gained 10.4% each. Noble (NE) piled on 10.4%. The stock was raised to buy at Pareto Securities. Niska Gas Storage Partners (NKA) rose 10.2%. Berry Petroleum (BRY) surged 9.6%. The stock was rated a new buy at Sterne, Agee & Leach, with a 12-month target price of $60.00 a share. Pioneer Natural Resources (PXD) and EOG Resources (EOG) moved up 8.7% and 7.9%, respectively. Goldman recommends a buy on both the stocks, ahead of their third-quarter results. Among the laggards, Suntech Power Holdings was the top decliner, plunging 13.8%. LDK Solar shed 12.5%. Newfield Exploration pared 11.9%. The company was cut to neutral from overweight at Simmons & Co. QuickSilver Resources relinquished 10.6%. Halliburton (HAL) dropped 10.5%. The stock was cut to neutral from buy at Guggenheim Securities with a target price of $45 a share, vs. the earlier $55. RPC (RES) erased 10.2%. Frontline (FRO) dived 9.4%. Jonathan Chappell, equity analyst at Evercore Partners, has downgraded the stock to underweight from equal-weight. The 12-month target price is $4 a share.
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