Archive for the ‘Energy Stocks’ Category

Rosetta Resources (ROSE) stock propels higher on upbeat numbers and upgrades

Monday, May 9th, 2011

Rosetta Resources Inc. (Nasdaq: ROSE) shares advanced 19.7% to $49.20, after several analysts upgraded shares of the oil and natural-gas company. Volume for the stock topped 3.1 million shares Monday, or nearly five times its daily average.

Investment firm Cannacord Genuity was particularly bullish and placed a $53 price target on the stock, which represents about a 30% premium to its Friday closing price. On Friday, the Houston-based Rosetta announced, for the first quarter ended March 31, 2011, net income of $11.0 million, or $0.21 per diluted share, versus a net income of $7.3 million, or $0.14 per diluted share, for the same period in 2010. These results include a $1.8 million after tax gain related to the settlement of hedges associated with the divested DJ Basin property.

Revenues for the first quarter of 2011 were $97.1 million compared to $70.1 million for the same period in 2010. Compared to a year ago, higher product revenues from oil and liquids were partially offset by lower gas revenues.

Said CEO Randy Limbacher, “the first quarter of 2011 delivered strong results led by continued success in our Eagle Ford shale play. We have continued to shift our production base to a more balanced portfolio weighted towards liquids and are reaping the benefits of a lower operating cost structure.
“We successfully completed our asset divestiture program and the proceeds will provide additional flexibility to execute our growth plans. Rosetta entered 2011 a streamlined and more focused company that is positioned to deliver double-digit growth into the future.”

Rosetta Resources Inc. is an independent exploration and production company engaged in the acquisition and development of onshore energy resources in North America. The Company’s activities are primarily located in South Texas, including its largest producing region in the Eagle Ford shale and in the Southern Alberta Basin in northwest Montana.

International Coal Group Inc. (ICO) takeover target sees price soar

Monday, May 2nd, 2011

International Coal Group Inc. (NYSE: ICO) shares climbed 30.9% Monday to $14.44, after Arch Coal Inc. (NYSE: ACI) said it would buy the coal miner for $3.4 billion. Volume for International Coal stock was a towering 153.5 million shares, overwhelming a daily average of around 7.8 million.

The combined company will be the second largest U.S. metallurgical coal supplier and a top-five overall global coal producer and marketer. Arch will have a balanced metallurgical (“met”) and thermal coal portfolio with unparalleled operational diversification in every major U.S. supply basin and the No. 1 or No. 2 position in each of its three core operating regions.

“The acquisition of ICG is a significant strategic step that strengthens Arch’s position as a world-class, global coal franchise positioned for growth,” said Arch CEO Steven F. Leer.

“This transaction will greatly expand our participation in global met markets; provide a powerful platform for future organic met coal production growth; enhance and further diversify our met and thermal coal product slate; extend our operating portfolio into every major U.S. coal-producing basin; and solidify our position as one of the industry’s lowest cost producers.”

Ben Hatfield, president and CEO of International Coal Group, said, “ICG has assembled a high-quality portfolio of low-cost mining operations and reserves, and one of the industry’s most talented and productive workforces. By teaming up with Arch, we expect to realize tremendous value for the shareholders of both companies while ensuring that our operations achieve their full potential.”

ICG is a leading producer of coal in Northern and Central Appalachia and the Illinois Basin. The company has 13 active mining complexes, of which 12 are located in Northern and Central Appalachia and one in Central Illinois. ICG’s mining operations and reserves are strategically located to serve utility, metallurgical and industrial customers domestically and internationally.

Arch Coal is one of the world’s largest coal producers, with more than 160 million tons of coal sold in 2010. Arch’s national network of mines supplies cleaner-burning, low-sulfur coal to customers on four continents, including U.S. and international power producers and steel manufacturers. In 2010, Arch achieved record revenues of $3.2 billion.

GTXI gallops, CSCO clicks, NEP slips

Wednesday, April 13th, 2011

GTX Inc. (Nasdaq: GTXI) shares advanced 41.8% to $3.90, on volume of 2.9 million, dwarfing an average of only 85,000, after Citigroup Inc. upgraded the drug company to buy from hold.

Cisco Systems Inc. (Nasdaq: CSCO) traded in 49.2 million shares, making it a volume leader Wednesday, but still falling below its average of 77.5 million. Share prices were down 1.2% to $17.24.

China North East Petroleum (AMEX: NEP) plummeted 15.9% to $3.22, on volume of 2.5 million, towering over a daily average around 440,000.

EROC soars, ALU also spreads wings, MSB in the mud

Wednesday, April 13th, 2011

Eagle Rock Energy Partners L.P. (Nasdaq: EROC) shares rose 14.8% to $11.74, on volume of two million shares, or nearly seven times its daily average, a day after the natural-gas firm said it would acquire CC Energy II LLC.

Alcatel-Lucent (NYSE: ALU) did a brisk trade of 55.9 million shares, compared to a daily average of 37.5 million. Shares vaulted in price by 7.6% to $6.07, on announcing plans to expand its broadband network.

Mesabi Trust (NYSE: MSB) shares fell 8% to $35.55, on volume of 677,065, better than twice its daily average, a day after the owner of mining rights in parts of Minnesota said it cut its dividend.

CAK soars, LVLT basks, YUII ails

Wednesday, April 13th, 2011

CAMAC Energy Inc. (AMEX: CAK) was a surprise victor among market movers Wednesday, gaining 51.8% in price to $2.08. Volume was 6.1 million shares, or 12 times its normal full-day average.

Level 3 Communications Inc. (Nasdaq: LVLT) proved one of the most popular movers on Wall Street Wednesday, trading in 39.4 million shares, or twice its full-day average. Prices for the stock inched ahead 0.6% to $1.68, a day after announcing it was buying Global Crossing for $3 billion.

Yuhi International Inc. (Nasdaq: YUII) took a slip Wednesday, docking its price by 18.6% to $5.42, on 447,000 shares, compared to normal volume around 92,600.