NEW YORK ( TheStreet) -- Denbury Resources ( DNR) and Whiting Petroleum ( WLL) showed strength this past week, while McMoRan Exploration ( MMR) and Core Laboratories ( CLB) had losses.
Denbury Resources topped the gainers' list last week, jumping 14.4%. During the week, analysts at Morgan Keegan rated it a favorite pick. They cited a good production profile, a 2012 capital expenditure plan that will be paid for by cash flow and sales of noncore assets, and "respectable" near-term production growth. Elsewhere, analysts at Raymond James upgraded the stock to strong buy from outperform.
Whiting Petroleum Corp. followed, gaining 11.0% last week. Meanwhile, CNOOC ( CEO) and Atlas Energy LP ( ATLS) moved up 11.5% and 10.5%, respectively, while Continental Resources ( CLR) rose 12.2%. CNOOC rallied after Beijing raised the threshold of a windfall tax on crude. Last week, the company announced the successful commissioning of the Lufeng (LF) 13-2 adjustment project. Analysts at RBC Capital markets initiated coverage on Atlas Energy with an outperform rating. Energy stocks rose after crude oil prices gained ground last week. PetroChina ( PTR) and TransAtlantic Petroleum ( TAT) advanced 10.4% and 8.4%, respectively. Petro China will process 17.5 million metric tons of crude this year at its Dalian plant. The company plans to buy the balance 40% interest in a Canadian oil sands project for $673 million. McMoRan Exploration closed at $13.63, down 6.3%. Core Laboratories was down 3.6%. EXCO Resources ( XCO) tumbled 6.7% as natural gas prices declined to less than $3 last week. Bristow Group ( BRS) and Sunoco Logistics Partners ( SXL) shed 1.8% and 2.7%, respectively, last week. Analysts at Bank of America have downgraded SXL to underperform.