Energy stocks are slightly higher today with the NYSE Energy
Sector Index climbing about 0.3% and the S&P Energy Index also
adding about 0.3%. Crude oil for February delivery is up 39 cents
to $91.19 per barrel. February natural gas is down 10 cents at
$3.37 per 1 million BTU.
In company news, Alon USA Energy Inc. (
) is up more than 10% and has hit 52 week highs today after
analysts at Goldman Sachs initiated coverage of the stock with a
Buy rating and a $21 price target.
Goldman also began coverage of Alon USA Partners (
) with a Neutral rating and a $31 a share price target, noting
ALJ's C-Corporation status is more likely to appeal to a broader
group of investors, according to the research note obtained by
StreetInsider. ALDW is up nearly 1%
"Relative to Buy-rated domestic oil companies that show less
upside, we prefer to keep some diversification among our Buy-rated
top picks. With that said, we see significant upside to our target
price for ALDW, making it a favorite Neutral-rated stock,"
according to the note.
In other sector news,
(+) BPZ, (+7.2%) Peru government signs Supreme Decree allowing
oil and gas company to amend its Block Z-1 license and add Pacific
Rubiales Corp (PRE.TO) to the contract. PRE.TO is down about 0.8%
(+) XOM, (+0.2%) Began expansion of its petrochemical complex in
Singapore, with plans to add 2.6 million of finished product
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