Energy Stocks: Winners and Losers

NEW YORK (TheStreet) -- Suntech Power Holdings (STP), LDK Solar (LDK) and Yingli Green Energy Holdings (YGE) showed strength this past week, whereas Berry Petroleum Company (BRY), YPF SA (YPF) and TC Pipelines (TCLP) eroded substantial value.

The majority of solar stocks rallied this past week, taking cue from the European leaders' decision to resolve the eurozone sovereign debt crisis rattling governments and banks in the region. It was agreed that banks would take a 50% loss on the Greek bonds they hold and announce a strong financial package to protect the region's banks and economies. Solar companies attract a major portion of their business from the eurozone.

Suntech Power Holdings led the rally in solar stocks last week, up 48.8%, followed by LDK Solar at 44.3%. Other solar majors such as Yingli Green Energy Holdings and Trina Solar ( TSL) jumped 33.5% and 29.8%, respectively, last week.

Nabors Industries ( NBR) improved 25.2% after the company swung to third quarter 2011 net profit of $74.3 million, or 25 cents per share, compared to net loss of $39.6 million, or 14 cents per share, in the year-ago quarter. Revenue for the quarter increased to $1.66 billion from $1.08 billion earlier.

CARBO Ceramics ( CRR) gained 23.4% after reporting 41% surge in its third quarter 2011 revenue to $167.1 million. Net income was up 83% to $36.9 million, or $1.59 per diluted share.

Key Energy Services ( KEG) added 22.3%. The company announced third quarter 2011 revenue of $501.3 million last week, an increase of 76.7% from the comparable quarter prior year. KEG swung to net income of $44.2 million, or 30 cents per share, vs. net loss of $1.5 million, or 1-cent per share, in the year-ago quarter.

ReneSola ( SOL) and SunPower ( SPWRA) appreciated 20.9% and 19.7%, respectively. Last week, analysts at Piper Jaffray had a new price target of $10.00 for SPWRA that the stock crossed during the week.

Cheniere Energy Partners ( CQP) climbed 17% last week after it was known that CQP's subsidiary Sabine Pass Liquefaction entered into its first LNG sale and purchase agreement with BG Gulf Coast LNG, a subsidiary of BG Group. Under the agreement, BG will purchase 3.5 million tons LNG a year.

Exterran Holdings ( EXH) rallied 15.9% after announcing a cash distribution of 48.75 cents per limited partner unit payable Nov. 14. The distribution is $0.005 higher than the prior quarter and $0.02 above the third quarter 2010 levels.

National-Oilwell Varco ( NOV) gained 15.2% after reporting third quarter 2011 net profit of $532 million, or $1.25 per share, from $404 million, or 96 cents per share, in the year-ago quarter. Revenue was up 24% to $3.74 billion. Meanwhile, rig technology backlog expanded 33% from the prior quarter level, led by 28 offshore rig packages.

Berry Petroleum Company was at the helm of losers, plunging 20.3%, after announcing 1.8% decline in third quarter 2011 revenue. The company has lowered its production guidance to 36,000 boe/d for 2011 from the earlier forecasted range of 37,000 boe/d to 39,000 boe/d.

YPF SA shed 6.2% after Fitch Ratings downgraded the company's foreign currency Issuer Default Rating (IDR) to B+ from BB- and reaffirmed local currency IDR at BB. Meanwhile, at close last week, TC Pipelines relinquished 5.1%.

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