Beam (BEAM) (ULTA) (UTIW) (ATPG) (AUXL) (CE) Ratings Reiterated

Beam (NYSE: BEAM), Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ: ULTA), UTi Worldwide Inc. (NASDAQ: UTIW), ATP Oil & Gas Co. (NASDAQ: ATPG), Auxilium Pharma (NASDAQ: AUXL) and Celanese Co. (NYSE: CE) had ratings on them reiterated by analysts.

Oppenheimer reiterated its "Outperform" rating on Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA). They have a price target of $85.00 on the company.

Morgan Stanley (NYSE:MS) reiterated its "Equal Weight" rating on UTi Worldwide Inc. (UTIW).

Rodman & Renshaw reiterated its "Outperform" rating on ATP Oil & Gas Co. (ATPG). They have a price target of $12.00 on the company.

Jefferies (NYSE:JEF) reiterated its "Buy" rating on Auxilium Pharma (AUXL). They have a price target of $24.00 on the company.

Goldman Sachs (NYSE:GS) reiterated its "Conviction Buy" rating on Beam (BEAM).

Gilford Securities reiterated its "Hold" rating on Celanese Co. (CE).

Cadence (CADX) (TECUA) (ATPG) (BAMM) (GLGL) (HMPR) Biggest NASDAQ Losers Monday

Cadence Pharmaceuticals, Inc. (CADX), Tecumseh Products Co. (TECUA), ATP Oil & Gas Co. (ATPG), Books-A-Million Inc. (BAMM), GLG Life Tech Corp. (GLGL) and Hampton Roads Bankshares (HMPR) were the biggest losers on the NASDAQ Monday, November 14.

Cadence Pharmaceuticals, Inc. (CADX) ended the day down 21.54 percent, while closing at $3.97. They traded in a range of $3.95 to $4.92. A total of 1,329,501 shares changed hands.

Tecumseh Products Co. (TECUA) ended the day down 14.68 percent, while closing at $4.94. They traded in a range of $4.83 to $5.51. A total of 102,109 shares of the stock changed hands.

ATP Oil & Gas Co. (ATPG) ended the day down 14.37 percent, while closing at $5.78. They traded in a range of $5.53 of $6.72. A total of 8,059,754 shares changed hands.

Books-A-Million Inc (BAMM) ended the day down 13.53 percent, while closing at $2.30. They traded in a range of $2.30 to $2.57. A total of 40,992 shares changed hands.

GLG Life Tech Corp (GLGL) ended the day down 13.36 percent, while closing at $2.01. They traded in a range of $1.63 of $2.10. A total of 253,256 shares changed hands.

Hampton Roads Bankshares (HMPR) ended the day down 13.01 percent, while closing at $3.41. They traded in a range of $3.40 to $3.90. A total of 47,575 shares changed hands.

ATP (ATPG) (ARR) (RIGL) (CMO) (CPA) (STEC) Ratings, PT, EPS

ATP Oil & Gas Co. (ATPG), Armour Residential (ARR), Rigel
Pharmaceuticals, Inc. (RIGL), Capstead Mortgage (CMO), Copa Holdings (CPA) and STEC Inc (STEC) had ratings, price targets or ESP estimates adjusted by analysts.

Compass Point initiated coverage on Armour Residential (ARR). They placed a “Neutral” rating and a price target of $7.00 on the company.

Lazard Capital initiated coverage on shares of STEC Inc (STEC). They placed a “Buy” rating on the company.

Global Hunter Securities downgraded ATP Oil & Gas Co. (ATPG) from an “Accumulate” rating to a “Reduce” rating. They have a price target of $6.25 on the company, down from $14.00.

Piper Jaffray (NYSE:PJC) reiterated its “Overweight” rating on Rigel Pharmaceuticals, Inc. (RIGL).

Compass Point initiated coverage on Capstead Mortgage (CMO). They placed a “Neutral” rating on the company.

Raymond James (NYSE:RJF) downgraded Copa Holdings (CPA) from a “Strong Buy” rating to an “Outperform” rating.

Coverage on (AKS) (ATPG) (CMC) (MRO) (LPR) Initiated by Analysts

Analysts initiated coverage on AK Steel Holding Co. (NYSE: AKS), ATP Oil & Gas Co. (NASDAQ: ATPG), Commercial Metals (NYSE: CMC), Marathon Oil Co. (NYSE: MRO) and Lone Pine Resources (NYSE: LPR).

Jefferies (NYSE:JEF) initiated coverage on shares of AK Steel Holding Co. (AKS). They placed a “hold” rating and a price target of $18.00 on the company.

Rodman & Renshaw initiated coverage on ATP Oil & Gas Co. (ATPG). They placed an “outperform” rating and a price target of $22.00 on the company.

Jefferies initiated coverage on Commercial Metals (CMC). They placed a “hold” rating and a price target of $16.50 on the company.

Morgan Stanley (NYSE:MS) initiated coverage on shares of Marathon Oil Co. (MRO). They placed an “equal weight” rating and a price target of $41.00 on the company.

Wells Fargo & Co. (NYSE:WFC) initiated coverage on shares of Lone Pine Resources (LPR). They placed an “outperform” rating on the company.

AK Steel closed Friday at $16.22, down $0.39, or 2.35 percent. ATP Oil & Gas closed at $15.81, falling $0.04, or 0.25 percent. Commercial Metals closed at $14.31, dropping $0.05, or 0.35 percent. Marathon Oil ended the session at $32.67, losing $0.43, or 1.30 percent. Lone Pine Resources closed at $11.11, gaining $0.20, or 1.83 percent.

ATP (ATPG) Lands Gulf Deepwater Drilling Permit

ATP Oil & Gas Corporation (NASDAQ:ATPG) has become only the third company to receive a permit to resume drilling in the Gulf of Mexico since the BP (NYSE:BP) oil spill.

They will begin drilling again at the Mississippi Canyon ("MC") Block 941 #4 well in the deepwater Gulf of Mexico.

T. Paul Bulmahn, ATP's Chairman and CEO, said, "This permit for the ATP Titan drilling and production platform is the first for a stationary deepwater facility since deepwater drilling was allowed to resume on February 28, 2011. The previous two permits to drill oil and gas wells approved by BOEMRE in 2011, both of them in the last 18 days, are for wells drilled by Mobile Offshore Drilling Units (MODU). We are ready and eager to return to work. ATP has always drilled safely and environmentally soundly. We are looking forward to delivering on our objectives to generate near-term production growth from these developments."

The Obama administration has been slow and lax in the issuing of permits, causing an enormous amount of pain for companies and workers in the region, as well as the communities they live in.

ATP closed Friday at $18.31, up $0.81, or 4.63 percent.

Chesapeake (CHK), Range Resources (RRC), Ultra Petroleum (UPL), ATP (ATPG), GMX (GMXR), Sandridge (SD) Natural Gas Resources Undervalued

Here's a look at Chesapeake (CHK), Range Resources (RRC), Ultra Petroleum (UPL), ATP (ATPG), GMX (GMXR) and Sandridge (SD), which appear to have their natural gas resources undervalued.

We searched for exploration and production (E&P) companies with undervalued natural gas reserves. We think Exxon Mobil's (XOM) purchase of XTO, in addition to the flurry of deals completed by Chesapeake (CHK) has put a floor on valuations, going forward. The best deals around include the lowest cost producer in Marcellus, Range Resources (RRC), and Wyoming, Ultra Petroleum (UPL).

We think mixed oil and gas players in the deepwater, such as ATP Oil and Gas (ATPG), are also likely to fare well, given that there remains plenty of commodity price upside from here. GMX Resources (GMXR) and Sandridge (SD) tipped their hats toward oil in the near-term by introducing themselves to significant oil plays. The names we found are below.

GMX Resources (GMXR) announced on January 28 that it would buy 67,724 net acres of horizontal oil resources within the core development areas of the Bakken / Sanish-Three Forks Formation in the Williston Basin (Bakken) and the Niobrara Formation in the Denver Julesburg (DJ) Basin. The 67,724 net acres is includes 26,087 net acres in the Williston Basin, North Dakota and Montana targeting the Bakken/Sanish – Three Forks Formation and approximately 41,637 acres in the DJ Basin in Wyoming targeting the Niobrara Formation. In addition, this provides 342 additional horizontal drilling locations. The purchase is to be made in $1.8 million in cash and up to 2.7 million shares of stock.






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Hess (NYSE:HES), Marathon Oil (NYSE:MRO), BHP (NYSE:BHP), Shell (NYSE:RDS-A), Noble (NYSE:NE) Drilling Permits Issue a Good Thing?

Thirteen companies which had already been operating in Gulf waters at the time of the Obama moratorium will have permits issued to them again, including ATP Oil & Gas Corp. (Nasdaq:ATPG), BHP Billiton Petroleum (GOM) (NYSE:BHP), Chevron USA (NYSE: CVX), Cobalt International Energy (NYSE:CIE), ENI U.S. Operating Company Inc. (NYSE:E), Hess Corp. (NYSE:HES), Kerr-McGee Oil & Gas Corp. (NYSE:KMG), Marathon Oil Company (NYSE:MRO), Murphy Exploration & Production Company – USA (NYSE:MUR), Noble Energy (NYSE:NE), Shell Offshore (NYSE:RDS-A), Statoil USA E & P (NYSE:STO), and Walter Oil & Gas Corp. (NYSE:WLT).

FBR said this will be viewed as a positive move by some, but they caution investors on chasing companies first being issued their permits.

FBR noted, "The Department of Interior announced that deepwater activities already underway before the imposition of the moratorium could be issued drilling permits without undergoing the extensive new environmental reviews that will be required of new permits. Although the issuance of the first post-moratorium permits will likely be viewed as a positive by some, we caution investors that a sustainable permitting rate is far less likely in the near term.

"According to BOEM, companies whose ongoing deepwater drilling activities were suspended due to the deepwater drilling moratorium do not need to resubmit exploration or development plans in order to begin drilling again. This announcement effectively grandfathers in wells being drilled at the time of the moratorium."