BP (BP) (ORCL) (BRCM) (ETFC) (GR) Price Targets Changed

BP PLC (NYSE: BP), Oracle (NASDAQ: ORCL), Broadcom Corp (NASDAQ: BRCM), E TRADE Financial Co. (NASDAQ: ETFC) and Goodrich Co. (NYSE: GR) had their price targets adjusted by analysts.

BP PLC (BP) had its price target lowered by The Benchmark Company from $70.00 to $55.00. They have a “Buy” rating on the company.

Oracle (ORCL) had its price target lowered by Jefferies (NYSE:JEF) to $35.00.

Broadcom Corp. (BRCM) had its price target lowered by Auriga from $44.00 to $40.00. They have a “Buy” rating on the company.

E TRADE Financial Co. (ETFC) had its price target lowered by FBR Capital from $18.00 to $14.00. They have an “Outperform” rating on the company.

Goodrich Co. (GR) had its price target lowered by Bank of America (NYSE:BAC) from $110.00 to $98.00.

Halliburton (HAL) (RIG) (BP) (APC) (CAM) Drop on Recession Fear

The weak jobs report, tropical storm Lee, and continual fallout from the Macondo Well disaster in the Gulf of Mexico are pressuring the shares of major participants Halliburton (NYSE:HAL), Transocean (NYSE:RIG), BP (NYSE:BP), Anadarko (NYSE:APC) and Cameron International (NYSE:CAM). The price of oil also dropped on Friday.

On the New York Mercantile Exchange, crude for October delivery settled at $86.45 a barrel, falling $2.48, or 2.79 percent.

For the week, front-month crude climbed $1.08, or 1.27 percent, from the $85.37 close on Aug. 26 and extended gains for a second straight week.

ICE Brent for October delivery settled at $112.33 a barrel, dropping $1.96, or 1.71 percent.

For the week front-month Brent jumped 97 cents, or 0.87 percent, from the $111.36 settlement on August 26, up for the third week in a row.

Brent crude's premium against U.S. crude expanded to a record $26.98, surpassing the former high of $26.69. The premium was at $25.88 at the close of trading.

Transocean ended the week at $53.73, falling $2.08, or 3.73 percent on Friday. Cameron International closed at $49.63, down $1.96, or 3.80 percent. Halliburton closed at $41.54, declining $1.48, or 3.44 percent. Anadarko ended the session at $69.71, falling $2.31, or 3.21 percent. BP closed at $36.63, down $1.26, or 3.33 percent.

BP (BP) Sued by Halliburton (HAL) for Defamation

BP (NYSE:BP) has been sued by Halliburton (NYSE:HAL) in a Texas state court, in relationship to the Gulf oil spill in 2010.

According to the complaint from Halliburton, they sued BP for "negligent misrepresentation, business disparagement and defamation" concerning the Macondo oil spill.

"Halliburton remains confident that all the work it performed with respect to the Macondo well was completed in accordance with BP's specifications for its well construction plan and instructions, and that Halliburton is fully indemnified under the contract," said the company.

BP has been attempting to recoup costs associated with the spill by showing they weren't the only company at fault. To that end the sued not only Halliburton, but Cameron International (NYSE:CAM) and Transocean (NYSE:RIG) as well.

Halliburton said it has also amended claims against BP in the multi-district litigation in New Orleans, Louisiana.

BP was trading at $36.29, down $1.50, or 3.97 percent, as of 10:45 AM EDT. Halliburton was at $41.61, falling $1.41, or 3.28 percent.

BP (BP) (APC) (COP) (XOM) (RDS-A) (HAL) (CVX) (MRO) Jumped Monday

BP (NYSE:BP), Anadarko (NYSE:APC), Conoco (NYSE:COP), Exxon Mobil (NYSE:XOM), Shell (NYSE:RDS-A), Halliburton (NYSE:HAL), Chevron (NYSE:CVX) and Marathon Oil (NYSE:MRO) all closed up Monday on news consumer spending was slightly up.

Crude for October delivery climbed $1.90 to $87.27 a barrel on the New York Mercantile Exchange, the highest settlement since Aug. 17. Prices have dropped 4.5 percent this year.

Brent oil for October settlement jumped 52 cents, or 0.5 percent, to $111.88 a barrel on the London-based ICE Futures Europe exchange. The European benchmark traded at a premium of $24.61 to U.S. West Texas Intermediate futures, compared with a record $26.21 on Aug. 19.

Marathon closed at $26.41, gaining $0.52. or 2.01 percent. Chevron closed at $98.74, jumping $1.89, or 1.95 percent. Halliburton ended the session at $42.81, climbing $1.35, or 3.26 percent. Royal Dutch Shell closed at $65.33, rising $1.11, or 1.73 percent. Exxon closed at $74.12, increasing $1.48, or 2.04 percent. Conoco closed the day at $67.78, up $2.27, or 3.47 percent. Anadarko closed at $71.75, gaining $2.48, or 3.58 percent. BP closed at $39.25, rising $1.06, or 2.78 percent.

BP (BP) (LHO) (VOCS) (AONE) (ENS) (BYI) Downgraded

BP PLC (NYSE: BP), LaSalle Hotel Properties (NYSE: LHO), Vocus, Inc. (NASDAQ: VOCS), A123 Systems, Inc. (NASDAQ: AONE), EnerSys (NYSE: ENS) and Bally Technologies Inc. (NYSE: BYI) downgraded by analysts.

LaSalle Hotel Properties (LHO) was downgraded by Jefferies (NYSE:JEF) from a “Buy” rating to a “Hold” rating. They have a price target of $18.00 on the company, down from $31.00.

Vocus, Inc. (VOCS) was downgraded by RBC Capital from an “Outperform” rating to a “Sector Perform” rating. They have a price target of $25.00 on the company, down from $33.00.

BP PLC (BP) was downgraded by Goldman Sachs (NYSE:GS) from a “Buy” rating to a “Neutral” rating.

A123 Systems, Inc. (AONE) was downgraded by Goldman Sachs from a “Buy” rating to a “Neutral” rating.

EnerSys (ENS) was downgraded by Ardour Capital from a “Buy” rating to an “Accumulate” rating. They have a price target of $28.00 on the company, down from $42.00.

Bally Technologies Inc. (BYI) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating.

Marathon (MRO) (DVN) (HES) (BP) (APC) Trading Mixed

Shares of Marathon Oil (NYSE:MRO), Devon Energy (NYSE:DVN), Hess Corporation (NYSE:HES), BP (NYSE:BP) and Anadarko (NYSE:APC) 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.

Anadarko (APC) was trading at $75.66, gaining $4.02, or 5.61 percent, as of 1:59 PM EDT. BP (BP) was at $45.03, up $1.14, or 2.60 percent. Hess Corporation (HES) was trading at $78.45, climbing $0.37, or 0.47 percent. Devon Energy (DVN) was at $82.76, rising $0.23, or 0.28 percent. Marathon Oil (MRO) was trading at $51.66, falling $0.26, or 0.50 percent.

BP's (BP) Mitsui (MITSY) Deal Clarifies Gulf Liability

Uncertainty as to the liability that BP's (NYSE:BP) partners in the Gulf of Mexico Macondo well became clearer for Anadarko (NYSE:APC) after a deal was struck between BP and Mitsui (OTC:MITSY) to pay $1.1 billion to BP for cleanup costs in the Gulf.

Mitsui owns a 10 percent stake in the well and Anadarko a 25 percent stake.

By extension, it would imply a $2.66 billion cleanup settlement for Anadarko, less than had been anticipated, pushing up the share price of the company.

Billions more will be worked out in a settlement between BP and its two partners concernings fines, and Mitsui and Anadarko appear ready to do their part and put the issue behind them.

Anadarko was trading at $75.18, gaining $3.54, or 4.94 percent, as of 11:55 AM EDT. Mitsui was trading at $334.86, up $2.24, or 0.67 percent. BP was at $44.83, rising $0.94, or 2.14 percent.

Coverage on BP (BP) (APO) (COF) (DFS) (HMIN) Initiated

Coverage on shares of BP (NYSE:BP), Apollo Global Management (NYSE:APO), Capital One (NYSE:COF) Discover Financial Services (NYSE:DFS) and Home Inns (NASDAQ:HMIN) was initiated by analysts.

Keefe Bruyette initiated coverage on Apollo Global Management (APO), starting them off with an "Outperform" rating.

RBC Capital initiated coverage on BP (NYSE:BP), starting them off with an "Outperform" rating.

Goldman Sachs (NYSE:GS) initiated coverage on Capital One (COF), starting them off with a "Neutral" rating.

Goldman Sachs initiated coverage on Discover Financial Services (NYSE:DFS), starting them off with a "Neutral" rating.

Cowen launched coverage on Home Inns (HMIN), starting them with a "Neutral" rating.

BP (BP) Gets Upgrade from BofA (BAC) Analyst

BP (NYSE:BP) a lot of positive input from Bank of America (NYSE:BAC) analyst Alejandro Demichelis, who upgraded the stock to a "Buy."

Demichelis says he sees upside for the oil giant of 31 percent, saying the stock is undervalued from a net asset value basis.

“Importantly, BP appears to be making progress accessing new deepwater opportunities globally (Brazil, Angola, Australia) that can ultimately inject growth in the portfolio outside of the Gulf of Mexico medium term,” Demichelis wrote in a note.

He noted the BP trades at a 50 percent discount to its net asset value, versus an average of 23 percent among its peers.

As to the risk associated with the Macondo oil spill in the Gulf of Mexico, he said “much of this liability has been already priced into the stock (assuming no gross negligence).”

Concerning the debacle in Russia with Rosneft, he had this to say:

“Whilst talks with ROSN/AAR are ongoing, despite the lapsed deadline, we think that it is likely that the deal may not happen, as we struggle to see room for an improved offer. We nonetheless see a resolution of this situation either way as a positive. In our view, if BP does manage to revive the deal this achieves the strategic aim of entering the Arctic, reducing uncertainties. If BP walks away from it, this calls the strategy into question, putting pressure on management to explore more drastic strategic avenues to crystallise value.”

BP closed Thursday at $43.89, gaining $0.62, or 1.43 percent.

Ratings on (BP) (BRS) (CNW) (LRCX) (NRP) Upgraded

Ratings on shares of BP PLC (NYSE: BP), Bristow Group Inc. (NYSE: BRS), Con-way Inc. (NYSE: CNW), Lam Research Co. (NASDAQ: LRCX) and Natural Resource (NYSE: NRP) upgraded by analysts.

Bank of America (NYSE:BAC) upgraded shares of BP PLC (BP) from a “neutral” rating to a “buy” rating.

Credit Suisse (NYSE:CS) upgraded Bristow Group Inc. (BRS) from a “neutral” rating to an “outperform” rating.

Stifel Nicolaus upgraded Con-way Inc. (CNW) from a “hold” rating to a “buy” rating. They have a price target of $46.00 on the company.

Goldman Sachs (NYSE:GS) upgraded Lam Research Co. (LRCX) from a “neutral” rating to a “buy” rating.

UBS AG (NYSE:UBS) upgraded Natural Resource (NRP) from a “neutral” rating to a “buy” rating.

Exxon (XOM) (COP) (CVX) (BP) Rising on Lower Gas Inventory

Shares of oil companies Exxon Mobil (NYSE:XOM), ConocoPhillips (NYSE:COP), Chevron (NYSE:CVX) and BP (NYSE:BP) were trading up today after a report from the Energy Information Administration saying gas inventory was up less than expected and oil inventory was flat.

Light, sweet crude West Texas Intermediate oil for June delivery is up $3.61 to $100.52 a barrel on the Nymex.

Brent crude July contracts rose $2.74 to $112.73 a barrel.

This could be an indicator that refinery demand may possibly be on the rebound.

MF Global wrote in a note to clients, “We think oil prices will continue to erode and we still think $90 is a reasonable short-term target on WTI, although short-term, we are getting a tad oversold and may be in for a bounce here.”

Chevron was trading at $102.96, gaining $2.55, or 2.54 percent, as of 2:19 PM EDT. BP was at $43.16, up $0.36, or 0.84 percent. ConocoPhillips (COP) was trading at $73.03, jumping $1.49, or 2.08 percent. Exxon Mobil (XOM) was at $81.76, rising $1.35, or 1.68 percent.

Shares of BP (BP) (COP) (XOM) (RDS-A) (DVN) Close Up

Dropping fuel prices prices didn't stop shares of BP (NYSE:BP), ConocoPhillips (NYSE:COP), ExxonMobil (NYSE:XOM), Royal Dutch Shell (NYSE:RDS-A) and Devon Energy from all closing up on Tuesday.

Benchmark crude for June delivery dropped 47 cents to settle at $96.91 a barrel on the New York Mercantile Exchange. It fell as low as $95.02 during the trading session.

Natural gas was down 3 percent, falling 13.3 cents to $4.246 per 1,000 cubic feet.

In Nymex trading in June contracts, heating oil fell 2.93 cents to settle at $2.8451 per gallon, gasoline futures were down 1.18 cents to settle at $2.9193 a gallon and natural gas declined 13.3 cents to settle at $4.246 per 1,000 cubic feet.

In London, Brent crude for June delivery was lower by 85 cents to settle at $109.99 on the ICE Futures exchange.

Exxon closed Tuesday at $80.41, gaining $0.17, or 0.21 percent.

BP (BP) Punished as Oil Prices Plunge

Oil as gas prices dropped Wednesday, dragging many energy companies like BP (NYSE:BP) down with it.

Brent crude settled down $5.06 at $112.57 a barrel, while U.S. crude futures dropped $5.67 to settle at $98.21.

Natural gas for June delivery settled 6.5 cents, or 1.5%, lower, at $4.181 per million British thermal units on the New York Mercantile Exchange.

The U.S. Oil Fund (USO) dropped 4.2 percent to closed at $39.35, the Energy Select Sector SPDR Fund (XLE) was down 2.9 percent to close at $74.28, and the U.S. gasoline fund LP (UGA) plunged 6.4 percent to close at $51.44.

BP provides fuel for transportation, energy for heat and light, retail services, and petrochemicals products.

BP closed Wednesday at $43.96, down $0.60, or 1.35 percent.

BP (BP) Punished as Oil Prices Plunge

Oil as gas prices dropped Wednesday, dragging many energy companies like BP (NYSE:BP) down with it.

Brent crude settled down $5.06 at $112.57 a barrel, while U.S. crude futures dropped $5.67 to settle at $98.21.

Natural gas for June delivery settled 6.5 cents, or 1.5%, lower, at $4.181 per million British thermal units on the New York Mercantile Exchange.

The U.S. Oil Fund (USO) dropped 4.2 percent to closed at $39.35, the Energy Select Sector SPDR Fund (XLE) was down 2.9 percent to close at $74.28, and the U.S. gasoline fund LP (UGA) plunged 6.4 percent to close at $51.44.

BP provides fuel for transportation, energy for heat and light, retail services, and petrochemicals products.

BP closed Wednesday at $43.96, down $0.60, or 1.35 percent.

BP (BP) Blasted on Russian Debacle

The debacle with BP's (NYSE:BP) Russian oil deals and the falling price of oil pushed the share price of the oil giant down on Monday.

U.S. crude futures were down 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.

BP closed Monday at $42.46, falling $0.47, or 1.09 percent.

BP (BP) Shares Drop on Falling Oil Prices

BP (NYSE:BP) starting moving down last Wednesday in response to plunging oil prices, as oil inventories went up as consumer demand went down because of higher gas prices.

On the New York Mercantile Exchange, crude for June delivery on Friday settled at $99.65 a barrel, up 68 cents, or 0.69 percent, after trading in a range of $97.09 to $100.70.

For the week, front-month crude climbed $2.47, or 2.5 percent.

ICE Brent for June delivery settled at $113.83 a barrel, up 85 cents, or 0.75 percent, after trading in a range of $111.72 to $114.92. The Brent crude contract for July delivery was at 66 cents, or 0.6 percent higher on Friday, at $112.99. Last week, Brent crude jumped $4.70, or 4.3 percent.

The U.S. dollar index was up 0.8 percent higher at $75.72 as the euro was down 1 percent against the dollar at $1.411. On Friday, European officials said that Greece, Ireland and Portugal's sovereign debt problems may be worse than previously believed.

NYMEX June gasoline settled at $3.0744 a gallon, up 1.05 cents, or 0.34 percent, after trading in a range of $3.0342 to $3.1388.

For the week, front-month RBOB fell 1.57 cents, or 0.5 percent.

NYMEX June heating oil closed at $2.9422 a gallon, rising 2.85 cents, or 1 percent.

Front-month heating oil for last week was up 9.65 cents.

BP closed Friday at $42.93, down $0.65, or 1.49 percent.

Devon (DVN) Trades Down While Oil, Gas Rise

Crude oil, natural gas and gasoline prices jumped Tuesday, pushing up the share price of Devon (NYSE:DVN).

Benchmark crude for May delivery rose $1.33 to settle at $103.88 a barrel on the New York Mercantile Exchange.

Heating oil jumped 3.94 cents to settle at $3.0012 a gallon. Gasoline futures climbed 10.13 cents to settle at $3.3797 a gallon, while natural gas for June delivery increased 8.7 cents to settle at $4.303 per 1,000 cubic feet.

Separately, Devon Energy was given permission by the Brazilian government to sell assets to BP (NYSE:BP).

Devon Energy Corporation participates in the exploration, development, and production of natural gas and oil; transportation of oil, gas, and natural gas liquids; and processing of natural gas.

Devon (DVN) closed at $85.48, dropping $0.07, or 0.08 percent.

BP (BP) (PTR) (BOLT) (OIS) (GST) Trade Positive as Oil, Gas Rise

Crude oil, natural gas and gasoline prices jumped Tuesday, pushing up the share prices of PetroChina (NYSE:PTR), Bolt Technology Corp. (NASDAQ:BOLT), Oil States Intl., Inc. (NYSE:OIS), Gastar Exploration Ltd (AMEX:GST) and BP (NYSE:BP).

Benchmark crude for May delivery rose $1.33 to settle at $103.88 a barrel on the New York Mercantile Exchange.

Heating oil jumped 3.94 cents to settle at $3.0012 a gallon. Gasoline futures climbed 10.13 cents to settle at $3.3797 a gallon, while natural gas for June delivery increased 8.7 cents to settle at $4.303 per 1,000 cubic feet.

Uncertainty remains as to the effects of the flooding along the Mississippi River could have on regional refinery operations, which could slow down gasoline production and put upward pressure on prices.

Gastar Exploration Ltd (AMEX:GST) closed at $4.11, up $0.13, or 3.27 percent.

BP (BP) (ROSE) (CRK) (NOG) (HES) Stronger on Rising Oil Prices

Most oil and related companies performed strong Monday, as BP (NYSE:BP), Rosetta Resources (NASDAQ:ROSE), Comstock Resources (NYSE:CRK), Northern Oil and Gas (Amex:NOG) and Hess Corporation (NYSE:HES) were strengthened by the increase in oil prices after a prior down week.

Crude oil for June delivery climbed $5.37 to settle at $102.55 a barrel on the New York Mercantile Exchange, the largest one-day boost since February 22.

Brent crude for June settlement jumped $6.77, or 6.2 percent, to $115.90 a barrel on the London-based ICE Futures Europe exchange.

Wholesale gasoline prices soared 5 percent on Monday to $3.20 a gallon on fears that refineries in Mississippi may have to shut down because of the Mississippi River flooding.

The average U.S. price of a gallon of regular gasoline Monday fell by a penny to $3.96, according to AAA.

Immediate delivery futures of Texas crude oil rose $5.53 to $102.71 a barrel. Natural gas was up 0.06 cents to $4.17 per mbtu, while gasoline prices fell 20.17 cents to 329.18 cents a gallon.

Rosetta Resources (ROSE) closed Monday at $49.48, soaring $8.38, or 20.39 percent.

Shares of (LUFK) (CRZO) (SLB) (APA) (BP) Trade Mixed as Oil Closed Down 15% Last Week

Companies exposed to oil and the industry traded mixed to end the week, as oil prices plummeted 15 percent last week, taking Lufkin Industries, Inc. (NASDAQ:LUFK), Carrizo Oil & Gas (NASDAQ:CRZO), Schlumberger (NYSE:SLB), Apache Corp (NYSE:APA) and BP (NYSE:BP), and others, down with it.

Light, sweet crude oil for June delivery on the New York Mercantile Exchange dropped $2.62 to settle at $97.18 a barrel, matching the eight-week low of March 15. The U.S. Oil Fund (USO) closed down 1.1 percent on Friday.

For the week, the June oil futures contract fell 14.7 percent to $113.93.

Light, sweet crude for June delivery fell $2.62, or 2.6%, to close at $97.18 a barrel on the New York Mercantile Exchange.

In London, Brent crude finished the day off $1.67 at $109.13 per barrel on the ICE Futures exchange.

Republicans went on the offensive against higher oil and gas prices by passing a bill to hasten the leasing process dragging on in the Gulf of Mexico as the Obama administration drag their feet on taking action. The bill would also require leasing to be allowed off the coast of Virginia.

According to Rep. Michael Burgess (R-Texas), the bill helped push down the price of oil as it sent a message to the market they're serious about the future supply.

All Obama has done so far has obsessed on the fantasy of green, clean or so-called alternative energy; a dubious matter at best, and at worst, ignoring what they country needs now and is available to it.

In other Nymex trading for June contracts, heating oil fell 4.12 cents to $2.8457 a U.S. gallon and gasoline futures were down 0.53 cents to $3.0901 a U.S. gallon. Natural gas fell 3.4 cents to $4.297 per 1,000 cubic feet.

Apache Corp (APA) closed Friday at $124.21, gaining $1.37, or 1.12 percent.