Transocean (RIG) (END) (ROSE) (BOLT) (AXAS) Trading Mixed

Shares of Transocean (NYSE:RIG), Endeavour International (NYSE:END), Rosetta Resources (NASDAQ:ROSE), Bolt Technology Corp. (NASDAQ:BOLT) and Abraxas Petroleum Corp. (NASDAQ:AXAS) were trading mixed today as oil prices were trading down in the session.

Crude-oil futures were trading down $0.79 to $97.65 a barrel on the New York Mercantile Exchange.

U. S. crude oil prices also gained some back from earlier losses spurred by comments from the German Bundesbank, which said growth in Europe's largest economy will probably slow down.

Shares of oil companies like BP (NYSE:BP), Anadarko (NYSE:APC), Transocean and Cameron International (NYSE:CAM), all of which were connected to the Gulf oil spill, were all trading up on news of the settlement between BP and Macondo Well partner Mitsui (OTC:MITSY).

Transocean (RIG) was trading at $70.12, gaining $1.06, or 1.53 percent, as of 2:10 PM EDT. Abraxas Petroleum Corp. (AXAS) was at $4.10, down $0.05, or 1.20 percent. Bolt Technology Corp. (BOLT) was trading at $13.88, falling $0.03, or 0.22 percent. Rosetta Resources (ROSE) was at $45.81, dropping $0.15, or 0.33 percent. Endeavour International (END) was trading at $12.68, falling $0.07, or 0.55 percent.

Anadarko (APC) (BRY) (TAT) (FTI) (AXAS) Trade Mixed as Energy Falls

Shares of Anadarko (NYSE:APC), Berry Petroleum (NYSE:BRY), TransAtlantic Petroleum (AMEX:TAT), FMC Technologies, Inc. (NYSE:FTI) and Abraxas Petroleum Corp. (NASDAQ:AXAS) on Thursday as oil and gas were down on the day.

After the International Energy Agency expressed concerns about the effects of higher oil and gasoline prices on the global economy, oil fell in Thursday trading.

Benchmark crude for June delivery fell $1.63 to settle at $98.93 per barrel on the New York Mercantile Exchange.

June, heating oil fell 1.12 cents to settle at $2.8947 a gallon, gasoline dropped 2.95 cents to $2.926 a gallon and natural gas fell 10.5 cents to $4.161 per 1,000 cubic feet.

Berry Petroleum (BRY) closed Thursday at $48.89, gaining $0.55, or 1.14 percent.

Anadarko (APC) (BRY) (TAT) (FTI) (AXAS) Trade Mixed as Energy Falls

Shares of Anadarko (NYSE:APC), Berry Petroleum (NYSE:BRY), TransAtlantic Petroleum (AMEX:TAT), FMC Technologies, Inc. (NYSE:FTI) and Abraxas Petroleum Corp. (NASDAQ:AXAS) on Thursday as oil and gas were down on the day.

After the International Energy Agency expressed concerns about the effects of higher oil and gasoline prices on the global economy, oil fell in Thursday trading.

Benchmark crude for June delivery fell $1.63 to settle at $98.93 per barrel on the New York Mercantile Exchange.

June, heating oil fell 1.12 cents to settle at $2.8947 a gallon, gasoline dropped 2.95 cents to $2.926 a gallon and natural gas fell 10.5 cents to $4.161 per 1,000 cubic feet.

Berry Petroleum (BRY) closed Thursday at $48.89, gaining $0.55, or 1.14 percent.

Baker Hughes (BHI) (LUFK) (OIS) (GST) (AXAS) Trade Up on Weak U.S. Dollar

Shares of oil and oil related companies Baker Hughes Incorporated (NYSE:BHI), Lufkin Industries, Inc. (NASDAQ:LUFK), Oil States Intl., Inc. (NYSE:OIS), Gastar Exploration Ltd (AMEX:GST) and Abraxas Petroleum Corp. (NASDAQ:AXAS) traded higher Wednesday after a report from the Energy Information Administration saying gas inventory was up less than expected and oil inventory was flat.

Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.

Retail gasoline prices continued to fall, dropping almost 2 cents on Wednesday for a national average of $3.926 a gallon. Gasoline demand continues to fall in wake of high prices at the pump.

Heating oil for June increased 6.08 cents to settle at $2.9059 a gallon and gasoline futures jumped 3.62 cents to settle at $2.9555 a gallon. Natural gas gained 2 cents at $4.266 per 1,000 cubic feet.

Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.

The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in oil prices going up, as well as other commodity prices as well.

The euro traded at $1.4233, strengthening after falling to $1.4193 and up slightly from its $1.4219 close on Tuesday.

Traders bought commodities, including oil, on the weaker greenback.

Abraxas Petroleum Corp. (AXAS) closed Wednesday at $4.08, gaining $0.30, or 7.94 percent.

Rating on Abraxas (AXAS) Upgraded as Oil Prices Fall

The rating on Abraxas Petroleum Corp. (NASDAQ:AXAS) was upgraded by C.K. Cooper from a "Hold" to a "Buy," even as oil prices continue to fall.

U.S. crude futures fell 2.3 percent and gasoline futures dropped 5 percent to hit a nine-week low as worries mounted about high prices squelching energy demand and the fragile economy weigh on the industry.

Crude futures have fallen close to 15 percent so far on the month.

Oil futures were down 2.3 percent to $97.37 a barrel in New York. June Brent fell to $112.87, down 1 percent for Monday.

Gasoline futures for June delivery declined 14 cents, or 5.01 percent, to end the session at $2.93 a gallon, the lowest close since March 16.

U.S. gasoline at the retail level fell to $3.955 Monday from $3.961 Sunday. Diesel prices dropped $4.123 from $4.127.

June natural gas closed up 7 cents, or 1.7 percent, at $4.32 per million British thermal units. Natural gas prices were up on concerns flooding in Louisiana may cut back on supply.

Heating oil futures were down Monday, with the June heating oil contract closing at $2.87 a gallon, down 7 cents, or 2.3 percent.

Abraxas Petroleum Corporation participates in the acquisition, development, exploration, and production of oil and gas mostly in the United States

Abraxas Petroleum Corporation closed Monday at $3.98, down $0.16, or 3.86 percent.

Ratings on (AGO) (AONE) (AVNR) (AXAS) (BAP) Reiterated

Ratings on Assured Guaranty Ltd (NYSE: AGO), A123 Systems, Inc. (NASDAQ: AONE), Avanir Pharmaceuticals Inc (NASDAQ: AVNR), Abraxas Petroleum Corp. (NASDAQ: AXAS) and Credicorp Ltd. (NYSE: BAP) reiterated by analysts.

Piper Jaffray (NYSE:PJC) reiterated an “overweight” rating on Assured Guaranty Ltd (AGO). They have a price target of $25.00 on the company.

Wunderlich reiterated a “sell” rating on A123 Systems, Inc. (AONE). They now have a price target of $3.50 on the company.

Wedbush reiterated an “outperform” rating on Avanir Pharmaceuticals Inc (AVNR).

Wunderlich reiterated a “buy” rating on Abraxas Petroleum Corp. (AXAS).

Goldman Sachs (NYSE:GS) reiterated a “neutral” rating on Credicorp Ltd. (BAP).

Chesapeake (CHK), GeoResources (GEOI), Abraxas (AXAS) Jumping as Oil Prices Rise

For consumers, the return of $100-a-barrel oil is nothing but bad news. But investors see an opportunity: They're piling into unconventional energy stocks, betting that high oil prices could translate into big profits for some smaller U.S.-based oil companies.

In fact, companies that specialize in extracting crude from oil shale and oil sands are posting the biggest gains among energy companies this year.

212Email Print Chesapeake Energy (NYSE:CHK) has seen its stock jump 30% this year. Shares of small-cap GeoResources (NASDAQ:GEOI) are up nearly 40%. Abraxas Petroleum (NASDAQ:AXAS), which pulls oil out of the shale in the Rocky Mountains, has had a 27% runup.

"These [oil shale] companies basically start printing money once oil is above $90 a barrel," said Fadel Gheit, an oil industry analyst with Oppenheimer & Co.

Analysts and investors think these unconventional energy outfits could benefit the most if oil remains in the neighborhood of $100.




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