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TheStreet Open House

Energy Stocks: Winners and Losers

NEW YORK ( TheStreet) - Oneok Partners (OKS), Cheniere Energy Partners (CQP), Frontline (FRO) showed strength this past week, whereas First Solar (FSLR), Forest Oil Corporation (FST) pared significant losses.

Oneok topped the gainers' list last week, jumping 7.4%, after Citi boosted its natural gas liquids price expectation for 2012. The company's long-term succession plan also took shape last week with Terry Spencer named president of the parent company and Oneok Partners.

oil

Cheniere Energy and Frontline followed, both gaining 5.2% last week. Cheniere Energy has signed an agreement with GAIL (India) to sell 3.5 million metric tons of liquefied natural gas, every year for the next two decades. Also, the company has announced that its subsidiary Corpus Christi Liquefaction is developing an liquefied natural gas export terminal in San Patricio County, Texas.

Frontline announced the formation of a new company and raised $285 million from a private sale of shares. In early December, the company had announced plans to split and restructure the company business, likely to be completed by Dec. 31. It added that in 2012, it would take control of the newest vessels and also the outstanding orders at shipyards.

Cobalt International Energy (CIE) moved up by 4.7% last week after it extended its $360,000 per day lease on Diamond Offshore Drilling's Ocean Confidence rig by as much as two weeks to mid-March 2012. Citi group analysts reiterate a buy rating on the stock.

Teekay LNG Partners (TGP) and Western Gas Partners (WES) edged forward 3.7% and 3.5%, respectively. Western Gas announced that it has agreed to acquire the Red Desert Complex and related assets from Anadarko Petroleum Corporation for a total consideration of $483 million.

First Solar led the losers last week, wiping out 30.1% after it reduced its 2011 earnings guidance and announced layoffs of 100 people. The company said it is shifting its strategy toward solar systems for utilities and away from markets that depend on government subsidies. Analysts at Stifel Nicolaus have downgraded the company's rating from buy to hold while Piper Jaffray has revised its rating on the stock from overweight to neutral.

Forest Oil dropped 23.6% last week. The company has proposed to invest between $550 million and $600 million for capital activities for the year ended Dec. 31. It also sees net sales rising 5% to 6% above 2011 levels and 2012 net liquids sales volume increasing by 10%.

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