Energy News

Transocean (RIG) Soars on $1.4 Billion Settlement Agreement

2013-01-03T14:05:00.001-05:00

Shares of Transocean (RIG) skyrocketed on the news the company reached a $1.4 billion settlement agreement with the United States Justice Department over the failure of the oil rig - the Deepwater Horizon. Transocean, which is based in Switzerland, agreed to pay $1 billion in civil penalties and $400 million in criminal penalties. Also according to the court filing, Transocean plead guilty to

Exelon (EXC) (BRY) (WPX) (FM) (MTL) (PEC) (PGN) Ratings Changes

2012-11-02T23:59:00.000-04:00

Exelon Co. (EXC), Berry Petroleum Comp (BRY), WPX ENERGY INC (WPX), First Quantum Minerals Limited (FM), Mechel (MTL), Porto Energy Corp. (PEC) and Progress Energy (PGN) had ratings on them adjusted by analysts. Jefferies Group downgraded Exelon Co. (EXC) from a "Buy" rating to a "Hold" rating. They have a price target of $34.00 on the company. Haywood Securities downgraded First Quantum

Oil Stockpiles Drop 7.2 Million Barrels

2012-09-05T20:46:00.002-04:00

Oil stockpiles in the U.S. plunged 7.2 million barrels last week, according to the American Petroleum Institute, pushing up oil prices for the second day in a row. The drop in inventories was the most occurring in the U.S. in five weeks. Hurricane Isaac, according to a report from the Energy Department, could result in a decline of 4.95 million barrels. Just under 50 percent of oil production

Oil Supported By QE3 Probability

2012-07-12T12:37:00.002-04:00

With most investors believing it's inevitable that Ben Bernanke will institute another round of quantitative easing, it has helped support oil prices which otherwise would probably drop much further than the support it has found in the mid $80 a barrel range. That has also helped shore up the price of other commodities as well, which would have otherwise plummeted even worse than they have been.

Chevron (CVX) Says Q2 Profits Will Surpass Prior Quarter

2012-07-11T22:56:00.000-04:00

Profits for the second quarter will surpass the first quarter, according to Chevron Corp. (CVX), citing better margins from its refining operations. Refining margins climbed higher than the previous quarter, rising to $4 a barrel to $24.89, while West Coast margins rose to $21.32 a barrel Oil and gas production in the U.S. also improved for the quarter, jumping an average of 665,000 barrels

Buy Encana (ECA) Says Nenner

2012-06-25T17:31:00.000-04:00

In an interview on Breakout, Charles Nenner gave his input on the price movements of oil and natural gas, where he sees the recent roles being reversed as oil continues to drop in price while natural gas has jumped from $1.80 about a month ago to $2.70 now. Nenner was very close to calling that exact, where he saw natural gas dropping to $1.70 before it rebounded. From the end of April, oil has

Key Energy (KEG) (BCEI) (CLD) (SYRG) (WFT) (PGH) Ratings, Price Targets

2012-06-22T15:07:00.002-04:00

Key Energy (KEG), Bonanza Creek Energy Inc (BCEI), Cloud Peak Energy (CLD), Synergy Resources (SYRG), Weatherford (WFT) and Pengrowth Energy Trust (PGH) had ratings and price targets on them adjusted by analysts. Wunderlich Securities initiated coverage on Bonanza Creek Energy (BCEI). They placed a "Buy" rating and price target of $29.00 on the company. JPMorgan Chase (NYSE:JPM)

Exxon (XOM) Receives Approval for Hebron

2012-06-01T08:01:00.000-04:00

Exxon Mobil (NYSE: XOM) received approval from Labrador Offshore Petroleum Board and Newfoundland to proceed with plans to develop the Hebron oil field. The field is located off Newfoundland, Canada. Partners with Exxon in the endeavor include Chevron (NYSE: CVX), with a 26.7 percent interest; Suncor Energy (NYSE: SU), with 22.7 percent; and Statoil ASA (NYSE: STO), with 9.7 percent. Exxon has a

Chesapeake (CHK) (XOM) (CVX) Climb on Oil Prices, Natural Gas Demand

2012-05-21T11:35:00.000-04:00

A number of energy companies enjoyed moves into positive territory today, including Chesapeake Energy (CHK), Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX), which were all up on stronger oil prices and a perceived increase in demand for natural gas as a streak of warmer weather approaches. Shares of energy companies have been getting hit hard as of late, with 12 of the last 13 trading session has

Peabody Energy (BTU) Leases Over 400 Million Tons of Coal

2012-05-18T18:32:00.001-04:00

The bid by Peabody Energy Corp. (NYSE: BTU) of $1.11 per mineable ton of sulfur coal was enough to land it control over 402 million tons of ultra low sulfur coal reserves located in Wyoming.The leased tons are in Southern Powder River Basin in Wyoming, which is next to the North Antelope Rochelle Mine the coal giant operates.Also close to the mine is the North Porcupine region which Peabody will

Chesapeake (CHK) Abandoned by Major Investment Funds

2012-05-17T16:09:00.001-04:00

According to regulatory filings, Chesapeake Energy Corp. (NYSE: CHK) has had a number of investment funds funds sell off huge portions of their stakes in the company. Chesapeake has been under fire and pressure for a long time on the outrageous amount of debt it has incurred, resulting in the need to either sell of quality assets at below market levels, or to tap into more debt in hopes of

Fracking Banned in Irrelevant Vermont

2012-05-17T13:14:00.000-04:00

In a bizarre and ignorant move by Democrat Gov. Peter Shumlin of Vermont, he signed a strange law which bans hydraulic fracturing in the state, even though there is pretty much no known gas or oil underneath the Vermont ground. The law is strange for that very reason, as the nutty governor added this: "I hope other states will follow us. The science on fracking is uncertain at best. Let the

Horizontal Drilling Bill Approved by Ohio Senate

2012-05-16T17:39:00.000-04:00

New rules for horizontal drilling in Ohio has been approved by the Senate on a bipartisan basis. This is in response to those who are attempting to slow down drilling in shale in the eastern part of the United States, which would devastate the extraordinary potential for enormous energy deposits, as well as the creation of numerous, good-paying jobs. Some of the requirements of the bill include

Exxon (XOM) (CPK) (NGG) (OAS) (SU) (NKA) (HES) Ratings, Price Targets

2012-04-25T11:41:00.001-04:00

Exxon Mobil (XOM), Chesapeake Utilities (CPK), National Grid (NGG), Oasis Petroleum Inc. (OAS), Suncor Energy Inc. (SU), Niska Gas Storage (NKA) and Hess (HES) had ratings and price targets on them adjusted by analysts. Hilliard Lyons upgraded Chesapeake Utilities Corp (CPK) from a "Neutral" rating to a "Long" rating. They have a price target of $45.00 on the company. Morgan Stanley

Exxon (XOM) (HAL) (WLT) (CHK) (GPRE) (COP) (TCK) (WLT) Ratings, Price Targets

2012-04-20T10:54:00.001-04:00

Exxon Mobil (XOM), Halliburton (HAL), Walter Energy (WLT), Chesapeake Energy (CHK), Green Plains Renewable Energy Inc. (GPRE), ConocoPhillips (COP), Teck Resources Limited (TCK) and Walter Energy (WLT) had ratings and price targets on them adjusted by analysts. Global Hunter Securities upgraded Halliburton (HAL) from an "Accumulate" rating to a "Buy" rating. Morgan Stanley upgraded

Anadarko (APC) (OAS) (CAM) (HAL) (MPC) (RIG) (WLL) Ratings, Price Targets

2012-04-16T11:05:00.001-04:00

Anadarko Petroleum (APC), Oasis Petroleum Inc. (OAS), Cameron (CAM), Halliburton (HAL), Marathon Petroleum (MPC), Transocean (RIG) and Whiting Petroleum Co. (WLL) had ratings and price targets on them adjusted by analysts. CLSA upgraded Anadarko Petroleum (APC) from an "Outperform" rating to a "Buy" rating. Pritchard upgraded Oasis Petroleum Inc. (OAS) from a "Neutral" rating to a "

W&T (WTI) (CHK) (CLNE) (NOG) (RECV) (RGP) (SXLP) Ratings, Price Targets

2012-04-11T14:19:00.001-04:00

W&T Offshore, Inc. (WTI), Chesapeake Energy (CHK), Clean Energy Fuels Corp. (CLNE), Northern Oil & Gas, Inc. (NOG), Recovery Energy (RECV), Regency Energy Partners LP (RGP) and Signature Exploration and Production (SXLP) had ratings and price targets on them adjusted by analysts. Pritchard upgraded W&T Offshore, Inc. (WTI) from a "Neutral" rating to a "Buy" rating. Tudor

NRG (NRG) (SLB) (SRE) (CXPO) (EGN) (CVE) (RDS-A) (HES) Ratings, Price Targets

2012-04-05T11:12:00.000-04:00

NRG Energy, Inc. (NRG), Schlumberger (SLB), Sempra Energy (SRE), Crimson Exploration (CXPO), Energen (EGN), Cenovus Energy (CVE), Royal Dutch Shell (RDS-A) and Hess (HES) had ratings and price targets on them adjusted by analysts. Sterne Agee upgraded Schlumberger (SLB) from a "Neutral" rating to a "Buy" rating. $93.00 RBC Capital upgraded Sempra Energy (SRE) from a "Sector Perform"

Halliburton (HAL) (HERO) (RIG) (HFC) (CXO) (CVE) (KEG) (NOV) Ratings, Price Targets

2012-04-02T11:01:00.002-04:00

Halliburton (HAL), Hercules Offshore, Inc. (HERO), Transocean (RIG), HollyFrontier (HFC), Concho Resources Inc. (CXO), Cenovus Energy (CVE), Key Energy (KEG) and National-Oilwell Varco, Inc. (NOV) had ratings and price targets on them adjusted by analysts. Howard Weil downgraded Halliburton (HAL) from an "Outperform" rating to a "Market Perform" rating. $43.00 CLSA upgraded Hercules Offshore,

Rex (REXX) (WFT) (OSG) (TNK) (TNP) (OXF) (HTS) Ratings, Price Targets

2012-03-28T09:28:00.001-04:00

Rex Energy (REXX), Weatherford (WFT), Overseas Shipholding Group Inc. (OSG), Teekay Tankers Ltd. (TNK), Tsakos Energy Navigation (TNP), Oxford Resource Partners (OXF) and Hatteras Financial Corp. (HTS) had ratings and price targets on them adjusted by analysts. Capital One upgraded Rex Energy (REXX) to a "Neutral" rating. Guggenheim downgraded Weatherford (WFT) from a "Buy" rating to a "

Peabody (BTU) (CNX) (CAM) (DRQ) (LINE) (DG) Ratings, Price Targets

2012-03-23T09:52:00.000-04:00

Peabody Energy Corp. (BTU), CONSOL Energy Inc. (CNX), Cameron (CAM), Dril-Quip (DRQ), Linn Energy, LLC (LINE) and Dollar General (DG) had ratings and price targets on them adjusted by analysts. Davenport downgraded Peabody Energy Corp. (BTU) from a "Buy" rating to a "Neutral" rating. Davenport downgraded CONSOL Energy Inc. (CNX) from a "Buy" rating to a "Neutral" rating. RBC Capital

Exxon (XOM) (EMR) (GLF) (HOS) (SUBCY) (XEC) Ratings, Price Targets

2012-03-22T11:03:00.002-04:00

Exxon Mobil (XOM), Emerson Electric Co. (EMR), Gulfmark Offshore (GLF), Hornbeck Offshore (HOS), Subsea 7 SA (SUBCY) and Cimarex Energy Co. (XEC) had ratings and price targets on them adjusted by analysts. JPMorgan Chase & Co. upgraded Exxon Mobil (XOM) from an "Underweight" rating to a "Neutral" rating. Nomura upgraded Emerson Electric Co. (EMR) from a "Neutral" rating to a "Buy" rating.

Hercules (HERO) (STI) (NI) (OSHC) (NWSA) (NRGY) Ratings, Price Targets

2012-03-21T11:19:00.001-04:00

Hercules Offshore, Inc. (HERO), SunTrust (STI), Nisource (NI), Ocean Shore Holding (OSHC), News Corp. (NWSA) and Inergy (NRGY) had ratings and price targets on them adjusted by analysts. FBR Capital upgraded Hercules Offshore, Inc. (HERO) from a "Underperform" rating to a "Market Perform" rating. They have a price target of $5.75 on the company. Guggenheim downgraded SunTrust (STI) from a

RRI (GEN) (NE) (OGZPY) (DO) (HERO) (NOG) (UPS) Ratings, Price Targets

2012-03-20T10:39:00.002-04:00

RRI Energy, Inc. (GEN), Noble (NE), Gazprom OAO (OGZPY), Diamond Offshore Drilling, Inc. (DO), Hercules Offshore, Inc. (HERO), Northern Oil & Gas, Inc. (NOG) and United Parcel Service, Inc. (UPS) had ratings and price targets on them adjusted by analysts. Deutsche Bank downgraded RRI Energy, Inc. (GEN) from a "Hold" rating to a "Sell" rating. Macquarie downgraded Noble (NE) from a "

Devon (DVN) (RSOL) (SOL) (ESV) (EXM) (SXC) (PETD) (SUBCY) Ratings, Price Targets

2012-03-19T12:37:00.001-04:00

Devon Energy Co. (DVN), Real Goods Solar, Inc. (RSOL), ReneSola Ltd. (SOL), ENSCO PLC (ESV), Excel Maritime Carriers Ltd (EXM), Suncoke Energy (SXC), Petroleum Development Co. (PETD) and Subsea 7 SA (SUBCY) had ratings and price targets on them adjusted by analysts. Cantor Fitzgerald downgraded Real Goods Solar, Inc. (RSOL) from a "Buy" rating to a "Hold" rating. Macquarie downgraded ReneSola