NEW YORK ( TheStreet) - Green energy leader LDK Solar (LDK) led the energy pack last week. Oil and gas services company Frontline (FRO) showed strength, while Tesoro (TSO - Get Report) and Advantage Oil & Gas (AAV - Get Report) pared significant losses.
LDK Solar was the top gainer, jumping 21% after signing an agreement with
for the manufacture and distribution of 20 megawatts of LDK-certified modules at the latter's Ontario plant. Also,
has signed an agreement with LDK to manufacture LDK monocrystalline PV panels at its Thornhill facility in Ontario.
Frontline climbed 19.7% after its board approved restructuring the company for the formation of a new entity named Frontline 2012, primarily to buy assets for a total value of $1.12 billion from Frontline, assume $666 million in bank debt, and raise $250 million in new equity.
(CRK - Get Report)
surged 18.3% after the company announced the acquisition of acreage in the Delaware Basin in West Texas from
Eagle Oil & Gas Co.
and others for a purchase price of $332.7 million.
Energy Transfer Equity
(ETE - Get Report)
moved up 5.9% last week after announcing that approximately 98% shareholders of
Southern Union Company
voted in favor of adopting a merger agreement with ETE on Friday. Analysts at Zacks Investment Research have upgraded ETE from underperform to neutral.
Suntech Power Holdings
Boardwalk Pipeline Partners
(BWP - Get Report)
rose 5% each last week. Suntech was awarded the 2011 Gigaton Prize for its part in reducing carbon emissions around the world. Analysts at Auriga have upgraded Suntech Power to a hold rating. Boardwalk Pipeline was upgraded by analysts at Morgan Keegan from market perform to outperform.
Tesoro was at the helm of losers last week, wiping out 11.1% after a Credit Suisse analyst cut the stock's ratings from outperform to neutral citing that other companies in the sector offer better returns, currently.
Advantage Oil & Gas dropped 10.9% last week, tracking a 1.56% decline in oil prices to $99.41 from $100.99.
Gran Tierra Energy
(GTE - Get Report)
slipped 8.9% after the company announced that its two Colombian wells drilled recently returned disappointing results with no commercially useable oils.
(NFX - Get Report)
dropped 8.2% and 8%, respectively. Newfield Exploration traded lower after the company announced a crude oil supply agreement with Tesoro to provide 18,000 barrels per day of supply capacity at Tesoro's refinery in Salt Lake City.
(SOL - Get Report)
lost 14.2% during the last week.