Petrohawk (HK) (FSLR) (DLB) (DTV) (AINV) (WMS) Downgraded

Petrohawk Energy (NYSE: HK), First Solar, Inc. (NASDAQ: FSLR), Dolby Labs (NYSE: DLB), DirecTV (NYSE: DTV), Apollo Investment Corp. (NASDAQ: AINV) and WMS Industries Inc. (NYSE: WMS) downgraded by analysts.

Dolby Labs (DLB) was downgraded by Avondale Partners from an “Outperform” rating to a “Market Perform” rating. They have a price target $40.00 on the company, down from $60.00.

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

Apollo Investment Corp. (AINV) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating.

First Solar, Inc. (FSLR) was downgraded by ThinkEquity from a “Buy” rating to a “Hold” rating.

Petrohawk Energy (HK) was downgraded by Credit Suisse (NYSE:CS) from an “Outperform” rating to a “Neutral” rating.

WMS Industries Inc. (WMS) was downgraded by Keybanc from a “Buy” rating to a “Hold” rating.

Petrohawk (HK) (SMG) (USG) (ERF) (EVC) Downgraded

Petrohawk Energy (NYSE: HK), Scotts Miracle-Gro (NYSE: SMG), USG Co. (NYSE: USG), Enerplus Resources Fund (NYSE: ERF) and Entravision Communication (NYSE: EVC) downgraded.

Enerplus Resources Fund (NYSE: ERF) was downgraded by Canaccord Genuity from a “buy” rating to a “hold” rating.

Entravision Communication (NYSE: EVC) was downgraded by Gilford Securities from a “buy” rating to a “hold” rating.

Petrohawk Energy (NYSE: HK) was downgraded by RBC Capital to a “sector perform” rating.

Scotts Miracle-Gro (NYSE: SMG) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating. They have a price target of $50.00 on the company, down from $57.00.

USG Co. (NYSE: USG) was downgraded by RBC Capital from an “outperform” rating to a “sector perform” rating. They have a price target of $14.00 on the company, down from $16.00.

Conoco (COP) (EXTR) (FLIR) (HK) (IDRA) Price Targets Changed

ConocoPhillips (NYSE: COP), Extreme Networks Incorporated (NASDAQ: EXTR), FLIR Systems, Inc. (NASDAQ: FLIR), Petrohawk Energy (NYSE: HK) and Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) price targets adjusted.

ConocoPhillips (COP) had its price target raised by Oppenheimer from $82.00 to $90.00. They have an “outperform” rating on the company.

Extreme Networks Incorporated (EXTR) had its price target raised by Wedbush to $3.50.

FLIR Systems, Inc. (FLIR) had its price target lowered by JPMorgan Chase & Co. (NYSE: JPM) to $37.50.

Petrohawk Energy (HK) had its price target raised by RBC Capital from $36.00 to $39.00. They have an “outperform” rating on the company.

Idera Pharmaceuticals, Inc. (IDRA) had its price target lowered by Rodman & Renshaw from $6.00 to $4.00. They have an “outperform” rating on the company.

Patriot Coal (PCX) (HK) (DV) (ANGO) (PPDI) Upgraded by Analysts

Patriot Coal (NYSE: PCX), Petrohawk Energy (NYSE: HK), DeVry Inc. (NYSE: DV), AngioDynamics (NASDAQ: ANGO) and Pharmaceutical Product Development (NASDAQ: PPDI) upgraded by analysts.

Canaccord Genuity upgraded AngioDynamics (ANGO) from a “Hold” rating to a “Buy” rating. They have a price target of $16.50 on the company, up from $15.00.

UBS AG (NYSE: UBS) upgraded DeVry Inc. (DV) from a “Neutral” rating to a “Buy” rating. They have a price target of $75.00 on the company, up from $55.00.

Lazard Capital upgraded Petrohawk Energy (HK) was upgraded by analysts at from a “Sell” rating to a “Neutral” rating.

BMO Capital Markets upgraded Patriot Coal (PCX) to a “Market Perform” rating.

William Blair upgraded Pharmaceutical Product Development (PPDI) from a “Market Perform” rating to an “Outperform” Rating.

Petrohawk Energy (HK) Downgraded by Several Analysts

A number of analysts downgraded shares of Petrohawk Energy (NYSE: HK) after the massive offer for the company from BHP Billiton (NYSE: BHP).

Keybanc downgraded Petrohawk from a "Buy" rating to a "Hold" rating. They have a price target of $36 on the company.

Howard Weil downgraded the natural gas giant from an "Outperform" rating to a "Market Perform" rating.

Tudor Pickering downgraded Petrohawk to a "Hold" rating.

Wells Fargo & Co. (NYSE: WFC) downgraded Petrohawk from an “Outperform” rating to a “Market Perform” rating.

Petrohawk closed Friday at $38.17, gaining $14.68, or 62.49 percent.

Petrohawk (HK) (COP) (MOS) (XCO) (NVE) Ratings Reiterated

Petrohawk Energy (NYSE: HK), ConocoPhillips (NYSE: COP), The Mosaic Company (NYSE: MOS), EXCO Resources, Inc. (NYSE: XCO) and NV Energy (NYSE: NVE) had ratings reiterated by analysts.

JPMorgan Chase & Co. (NYSE:JPM) maintains an "Overweight" rating on ConocoPhillips (COP). They have a price target of $91.00 on the company.

Citigroup (NYSE:C) reiterated a "Hold" rating on Petrohawk Energy (HK).

JPMorgan Chase & Co. reiterated an "Overweight" rating on The Mosaic Company (MOS).

Wunderlich maintains a "Buy" rating on NV Energy (NVE). They have a price target of $17.00 on the company.

Scotia Capital reiterated a "Sector Perform" rating on EXCO Resources (XCO).

Petrohawk Energy closed Friday at $38.17, gaining $14.68, or 62.49 percent. ConocoPhillips closed at $76.42, rising $0.81, or 1.07 percent. The Mosaic Company ended the day at $66.75, up $0.67, or 1.01 percent. EXCO Resources closed at $16.42, climbing $1.26, or 8.31 percent. NV Energy closed at $15.22, jumping $0.06, or 0.40 percent.

Petrohawk (HK) Bid from BHP (BHP) Pushes Up (PXD) (SM) (SFY)

Shares of companies like Pioneer Natural Resources (NYSE:PXD), SM Energy (NYSE:SM) and Swift Energy (NYSE:SFY), which own acreage in Eagle Ford, got a big boost from the premium offered from BHP Billiton (NYSE:BHP) for Petrohawk (NYSE:HK).

BHP's bid of $38.75 a share, was a 60 percent premium over the Thursday close of $23.79 a share by Petrohawk. The $12.1 billion bid was an all-cash offer.

Immediate response from some analysts is this deal is more than likely specific to Petrohawk, rather than an industry consolidation trend. Even so, it is good news for some in the natural gas industry, which could benefit from possible higher valuations as a result.

Swift Energy was trading at $40.92, gaining $3.18, or 8.43 percent, as of 10:51 AM EDT. SM Energy was at $77.97, up $5.83, or 8.08 percent. Pioneer Natural Resources was trading at $92.91, up $6.82, or 7.92 percent. HK was at $28.21, jumping $14.72, or 62.66 percent.

Other companies with large exposure to natural gas were also trading up on the day. EOG Resources (NYSE:EOG) was trading at $100.98, up $4.27, or 4.42 percent. EQT Corporation was at $57.13, gaining $2.40, or 4.39 percent. Carrizo Oil & Gas was at $39.44, up $1.45, or 3.82 percent. Chesapeake Energy (NYSE:CHK) was at $32.12, soaring $1.91, or 6.32 percent.

Pioneer Natural Resources holds 310,000 acres in the Eagle Ford. SM Energy holds 250,000 acres in the Eagle Ford, and Swift Energy holds 79,000 acres in the Eagle Ford.

BHP was trading at $91.15, down $1.13, or 1.22 percent.

Schlumberger (SLB) (HK) (BEXP) (BHI) (VLO) Close Up While Oil Drops

Schlumberger (NYSE:SLB), Petrohawk Energy Corp. (NYSE:HK), Brigham Exploration (NASDAQ:BEXP), Baker Hughes Incorporated (NYSE:BHI) and Valero Energy (NYSE:VLO) ended the session up Thursday, going against the tide of oil futures dropping after rising over $101 a barrel on Wednesday.

The economy of Barack Obama continues to fall apart as first-time unemployment claims soared by another 10,000, exploding past the projected decline of 4,000 economists had been loking for. That's a seasonally adjusted 424,000 for the week ended May 21.

The U.S. economy growth rate was also below expectations, increasing at a very anemic 1.8 percent rate in the first quarter, plunging from the 3.1 percent growth rate in the fourth quarter, and missing the 2.2 percent growth rate economists had estimated.

The U.S. Labor Department also upwardly revised initial unemployment claims from the last report they issued.

This all had an impact on oil prices, as oil futures ended lower on the day. Light, sweet crude for July delivery settled down $1.09, or 1.1 percent, to $100.23 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange settled up 12 cents, or 0.1 percent, to $115.05 a barrel.

Front-month June reformulated gasoline blendstock, settled up 3.21 cents, or 1.1 percent, to $3.0483 a gallon. June heating oil was up 0.26 cent, or 0.1 percent, to $2.9829 a gallon.

With the Memorial Day weekend coming in the U.S., which usually involves significant travel and gasoline used in vehicles, it probably went against the slightly lower price of oil and gas heading into the summer season.

Valero Energy closed Thursday at $26.42, gaining $0.16, or 0.61 percent. Baker Hughes Incorporated ended the day at $74.50, jumping $0.72, or 0.98 percent. Brigham Exploration closed at $30.77, climbing $0.40, or 1.32 percent. Petrohawk Energy Corp. ended the session at $25.76, up $0.16, or 0.62 percent. Schlumberger closed the day at $85.19, rising $1.10, or 1.31 percent.

Cameron (CAM) (TAT) (PQ) (HK) (VLO) Trading Mixed

Shares of Cameron International (NYSE:CAM), TransAtlantic Petroleum (AMEX:TAT), PetroQuest Energy (NYSE:PQ), Petrohawk Energy Corp. (NYSE:HK) and Valero Energy (NYSE:VLO) 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).

Valero Energy (VLO) was trading at $26.35, falling $0.16, or 2:24 percent, as of 2:26 PM EDT. Petrohawk Energy Corp. (HK) was at $25.08, up $0.92, or 3.83 percent. PetroQuest Energy (PQ) was trading at $7.42, up $0.11, or 1.46 percent. TransAtlantic Petroleum (TAT) was at $2.15, gaining $0.05, or 2.27 percent. Cameron International (CAM) was trading at $48.47, jumping $0.43, or 0.90 percent.

Petrohawk (HK) (XCO) (OAS) (RRC) (NOG) Trade Mixed as Energy Falls

Shares of Petrohawk Energy Corp. (NYSE:HK), Exco Resources Inc. (NYSE:XCO), Oasis Petroleum (NYSE:OAS), Range Resources (NYSE:RRC) and Northern Oil and Gas (Amex:NOG) traded mixed on Thursday as oil and gas were down on the day.

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

Brent crude oil for July delivery was down 23 cents, or 0.2 percent, to $112.07.

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.

Linn Energy, LLC (LINE) closed Thursday at $38.35, gaining $0.33, or 0.87 percent. Lufkin Industries, Inc. (LUFK) ended the session at $85.06, up $1.81, or 2.17 percent.

Petrohawk Energy Corp. (HK) closed Thursday at $24.16, falling $0.16, or 0.66 percent. Oasis Petroleum (OAS) closed at $28.77, gaining $0.42, or 1.48 percent.

Petrohawk (HK) (SLB) (NOG) (KOG) (OAS) Up on Lower Gas Inventory

Shares of oil companies Petrohawk Energy Corp. (NYSE:HK), Schlumberger (NYSE:SLB), Northern Oil and Gas (Amex:NOG), Kodiak Oil & Gas (Amex:KOG) and Oasis Petroleum (NYSE:OAS) 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.”

Oasis Petroleum (OAS) was trading at $28.02, gaining $1.37, or 5.14 percent, as of 2:38 PM EDT. Kodiak Oil & Gas (KOG) was at $6.36, up $0.37, or 6.18 percent. Northern Oil and Gas (NOG) was trading at $20.16, increasing $1.61, or 8.68 percent. Schlumberger (SLB) was at $83.48, rising $1.42, or 1.73 percent. Petrohawk Energy Corp. (HK) was trading at $24.20, jumping $0.45, or 1.89 percent.

Petrohawk Energy (HK) Trades Down as Oil Prices Drop

Petrohawk Energy Corp. (NYSE:HK) was under pressure as oil as gas prices fell Wednesday, dragging most of the energy companies down with them.

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.

Petrohawk Energy Corporation participates in the exploration, development, and production of oil and natural gas properties in the United States.

Petrohawk Energy (HK) closed Wednesday at $24.31, down $1.51, or 5.85 percent.

Petrohawk (HK) (TAT) (LUFK) (TSO) (APA) Trade Mixed as Oil Prices Rebounded

Shares of Petrohawk Energy Corp. (NYSE:HK), TransAtlantic Petroleum (AMEX:TAT), Lufkin Industries, Inc. (NASDAQ:LUFK), Tesoro Corporation (NYSE:TSO) and Apache Corp (NYSE:APA) traded mixed even as oil prices closed Friday in positive territory.

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.

Petrohawk Energy Corp. (NYSE:HK) closed Friday at $24.33, falling $0.07, or 0.29 percent.

Price Targets on (HK) (HMIN) (IDTI) (IPI) (KSU) Updated

Price targets on Petrohawk Energy (NYSE: HK), Home Inns & Hotels Management Inc. (NASDAQ: HMIN), Integrated Device Technology, Inc. (NASDAQ: IDTI), Intrepid Potash, Inc. (NYSE: IPI) and Kansas City Southern (NYSE: KSU) updated by analysts.

Credit Suisse (NYSE:CS) raised their price target on Petrohawk Energy (HK) from $33.00 to $35.00. They have an “outperform” rating on the company.

Goldman Sachs (NYSE:GS) cut their price target on Home Inns & Hotels Management Inc. (HMIN) from $53.00 to $52.00.

Citigroup (NYSE:C) raised their price target on Integrated Device Technology, Inc. (IDTI) from $10.00 to $11.25. They have a “buy” rating on the company.

Morgan Stanley (NYSE:MS) cut their price target on Intrepid Potash, Inc. (IPI) from $41.00 to $37.00.

Citigroup raised their price target on Kansas City Southern (KSU) from $56.00 to $60.00. They have a “hold” rating on the company.

Petrohawk Energy (HK) Trades Down While Oil, Gas Rise

Crude oil, natural gas and gasoline prices jumped Tuesday, although the share price of Petrohawk Energy Corp. (NYSE:HK) fell on the day.

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.

Petrohawk Energy Corporation participates in the exploration, development, and production of oil and natural gas properties in the United States.

Petrohawk (HK) closed at $25.82, falling $0.09, or 0.35 percent.

Bolt (BOLT) (PETD) (HK) (PTR) (RIG) Trade Up as Oil Prices Rebound

Most oil and related companies performed strong Monday, as Bolt Technology Corp. (NASDAQ:BOLT), PDC Energy (NASDAQ:PETD), Petrohawk Energy Corp. (NYSE:HK), PetroChina (NYSE:PTR) and Transocean (NYSE:RIG) traded up as the price of oil rebounded.

Gastar was the only one of the list above to close down Monday.

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.

PetroChina (PTR) closed Monday at $136.28, climbing $1.39, or 1.03 percent.

Shares of (RIG) (DRQ) (PETD) (HK) (STR) 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 Transocean (NYSE:RIG), Dril-Quip, Inc. (NYSE:DRQ), PDC Energy (NASDAQ:PETD), Petrohawk Energy Corp. (NYSE:HK) and Questar Corporation (NYSE:STR), 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.

Transocean (RIG) closed Friday at $67.79, falling $0.98, or 1.43 percent.

Price Targets on (HK) (GOLD) (DTV) (FLO) (GGC) Updated

Analysts updated their price targets on Petrohawk Energy (NYSE: HK), Randgold Resources Ltd. (NASDAQ: GOLD), DirecTV (NYSE: DTV), Flowers Foods, Inc. (NYSE: FLO) and Georgia Gulf (NYSE: GGC) today.

Kaufman Brothers raised their price target on DirecTV (DTV) from $55.00 to $57.00. They have a “buy” rating on the company.

Longbow Research raised their price target on Flowers Foods, Inc. (FLO) from $30.00 to $35.00. They have a “buy” rating on the company.

Dahlman Rose raised their price target on Georgia Gulf (GGC) from $38.00 to $40.00. They have a “buy” rating on the company.

HSBC (NYSE:HBC) raised their price target on shares of Randgold Resources Ltd. (GOLD) from $104.00 to $111.00. They have an “overweight” rating on the company.

FBR Capital raised their price target on Petrohawk Energy (HK) from $24.00 to $32.00. They have an “outperform” rating on the company.

Petrohawk (HK) (EPD) (BPL) (PQ) (APA) Pressured as Oil Falls

Oil and oil-related companies Petrohawk Energy Corp. (NYSE:HK), Enterprise Products Partners (NYSE:EPD), Buckeye Partners L.P. (NYSE:BPL), PetroQuest Energy (NYSE:PQ) and Apache Corp (NYSE:APA) were pressured Thursday as crude for June delivery dropped below the $100 a barrel mark.

Crude oil for June delivery was down $9.44, or 8.6 percent, to $99.80 a barrel on the New York Mercantile Exchange. The price has fallen 12 percent so far this week, declining every day of the week. Crude has soared 25 percent over the last year.

Gasoline for May delivery was down 22.71 cents, or 6.8 percent, to $3.0954 a gallon on the Nymex, the lowest settlement in five weeks. Gasoline has jumped 39 percent in a year.

Averaged across the nation, regular gasoline at the pump increased 0.3 cent to $3.985 a gallon on Wednesday, according to the website of AAA. That's highest price of gasoline since July 24, 2008.

Heating oil for May delivery was down 25.61 cents, or 8.1 percent, to $2.8869 a gallon on the Nymex. Heating oil has climbed 32 percent over the last year.

The New York Mercantile Exchange reported that oil futures settled at $99.80, down $9.44 or 8.6 percent on Thursday.

Government figures show gasoline demand in America has dropped about 2 percent over the last month, which added to rises in inventory, should push gasoline prices down again.

PetroQuest Energy (PQ) closed Thursday at $7.74, down $0.27, or 3.37 percent.

Marathon (MRO) (DVN) (SHI) (HK) (OAS) Trade Down on Slowing Oil Demand

Oil companies and other industry-related companies Devon Energy (NYSE:DVN), SINOPEC Shangai Petrochemical (NYSE:SHI), Petrohawk Energy Corp. (NYSE:HK), Oasis Petroleum (NYSE:OAS) and Marathon Oil (NYSE:MRO) all closed down Wednesday as oil prices took a breather.

Oil prices dropped after a government report showed that inventories are growing as demand softens in the U.S. Benchmark crude for June delivery was down $1.81 to settle at $109.24 a barrel on the New York Mercantile Exchange.

In other NYMEX trading for June contracts, heating oil fell 4.78 cents to settle at $3.143 a gallon, gasoline futures lost 0.69 cent to $3.3225 a gallon and natural gas was lower by 9.4 cents to $4.644 per 1,000 cubic feet.

The U.S. dollar index shrunk 0.15 percent to $73.01, down from Tuesday's 73.127 close. The dollar index has fallen 7.5 percent so far in 2011.

Petrohawk Energy Corp. (HK) closed Wednesday at $24.04, falling $1.17, or 4.64 percent.