2. The Williams ( WMB) is a natural gas company operating in the Rocky Mountains, Gulf Coast, Pacific Northwest, Eastern Seaboard and the Marcellus Shale in Pennsylvania. The company plans to expand its midstream business in Pennsylvania's Marcellus Shale. Williams recently acquired the midstream assets of Cabot Oil & Gas ( COG) in Susquehanna County for $150 million. As of Dec. 2010, the company's total proved natural gas and oil reserves stood at 4.5 trillion cubic feet equivalent. Around 94% of total proved reserves are natural gas. Recently, the ratio of PDP grew faster than proved undeveloped reserves. As on date, approximately 59 % of the reserves are PDP and 41% are proved undeveloped. Analysts expect the stock to deliver 17% in the next one year with buy ratings of 82%. The stock is trading at 22.9 times its estimated 2011 earnings.