Continue reading Ultra Petroleum's Stock Continues to Meander

Ultra Petroleum's Stock Continues to Meander originally appeared on BloggingStocks on Thu, 16 Dec 2010 15:30:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Procter & Gamble (PG) upgraded to buy from neutral at Goldman.
• Capital One (COF) upgraded to outperform from market perform at FBR Capital.
• Airgas (ARG) upgraded to outperform from neutral at RW Baird.
• Broadcom (BRCM) upgraded to positive from neutral at Susquehanna.
• Lululemon (LULU) upgraded to hold from underperform at Jefferies.
• DryShips (DRYS) upgraded to outperform from neutral at Credit Suisse.

Continue reading Analyst Calls: AVB, BRCM, COF, DRYS, IFF, LULU, NSM, OII, OSG, PG ...

Analyst Calls: AVB, BRCM, COF, DRYS, IFF, LULU, NSM, OII, OSG, PG ... originally appeared on BloggingStocks on Fri, 10 Dec 2010 10:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Sprint (S) was upgraded to neutral from underweight at Piper Jaffray.
• Cree (CREE) was upgraded to outperform from market perform at Morgan Keegan.
• Brocade (BRCD) was upgraded to outperform from market perform at JMP Securities.
• JPMorgan upgraded WuXi PharmaTech (WX) to overweight from neutral.
• Barclays upgraded ITC Holdings (ITC) to overweight from equal weight.
• Centene (CNC) was upgraded to outperform from underperform at Oppenheimer.
• Senior Housing (SNH) was upgraded to buy from hold at Jefferies.
• UBS upgraded Hovnanian (HOV) to neutral from sell.
• GeoResources (GEOI) was upgraded to accumulate from neutral at Madison Williams.
• Compellent (CML) was upgraded to hold from sell at Canaccord.

Continue reading Analyst Calls: BRCD, CCE, DPS, HOV, JOYG, KMB, KO, PEP, S, ...

Analyst Calls: BRCD, CCE, DPS, HOV, JOYG, KMB, KO, PEP, S, ... originally appeared on BloggingStocks on Tue, 16 Nov 2010 12:00:00 EST. Please see our terms for use of feeds.

I first discussed Ultra Petroleum (UPL) here on June 4, 2009, at a price of $46. The independent oil/natural gas company has disappointed investors this summer, as the shares formed a bear hug -- a bearish pattern -- plummeting from $54 to about $37 in the process.

Moreover, the plunge was surprising because Ultra's growth prospects are strong, with three-year reserve replacement rates that are among the best in its class; below-competitor operating expenses represent another UPL advantage.
One factor in the stock's slide? Lower-than-expected natural gas prices.

Continue reading Ultra Petroleum's Slide Continues

Ultra Petroleum's Slide Continues originally appeared on BloggingStocks on Mon, 13 Sep 2010 14:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Canaccord believes growth in DigitalGlobe's (DGI) commercial business will be a catalyst for shares. The firm upgraded shares to buy from hold and has a $38 price target on the stock.
• Standpoint upgraded Abercrombie & Fitch (ANF) to accumulate from hold based on valuation. The firm has a $47 target on the stock.
• Morgan Keegan upgraded Open Text (OTEX) to outperform from market perform based on the company's strong FY2011 EPS outlook.
• Devon Energy (DVN) was upgraded to overweight from equal weight at Morgan Stanley.
• Magna (MGA) was upgraded to outperform from sector perform at RBC Capital.
• EnCana (ECA) was upgraded to outperform from neutral at Macquarie.

Continue reading Analyst Calls: ANF, CRUS, DGI, EAT, EV, MELI, OTEX, PH, SIRI, WYNN ...

Analyst Calls: ANF, CRUS, DGI, EAT, EV, MELI, OTEX, PH, SIRI, WYNN ... originally appeared on BloggingStocks on Thu, 19 Aug 2010 10:00:00 EST. Please see our terms for use of feeds.

Continue reading E*TRADE, Amgen and Others Heating Up in Google Searches

E*TRADE, Amgen and Others Heating Up in Google Searches originally appeared on BloggingStocks on Thu, 03 Jun 2010 17:30:00 EST. Please see our terms for use of feeds.

Continue reading Ultra Petroleum: Independent oil company extraordinaire

Ultra Petroleum: Independent oil company extraordinaire originally appeared on BloggingStocks on Thu, 04 Jun 2009 15:20:00 EST. Please see our terms for use of feeds.

Among all the negative economic data that came out last week was a positive surprise: retail sales were higher in January. A fluke or a glimmer at the end of the tunnel? That may depend on whether we see any positive surprises arising from items on this week's economic calendar:

• Consumer Analyst Group of New York Conference: Monday through Friday
• NY Empire Manufacturing Index (Feb. 2009): Tuesday, 8:30 AM
• NAHB Housing Market Index (Feb. 2009): Tuesday, 1:00 PM
• Fed's Bullard speaks before National Association of Business Economists: Tuesday, 1:00 PM
• Housing starts (Jan. 2009): Wednesday, 8:30 AM
• Fed's Pianalto speaks before Commercial Developers Power Breakfast: Wednesday, 9:00 AM
• Industrial production (Jan. 2009): Wednesday, 9:15 AM
• Fed's Bernanke speaks before National Press Club Luncheon: Wednesday, 12:30 PM

Continue reading The week in preview: A glimmer at the end of the tunnel?

The week in preview: A glimmer at the end of the tunnel? originally appeared on BloggingStocks on Sun, 15 Feb 2009 12:30:00 EST. Please see our terms for use of feeds.

During July, the prices of oil exploration and coal stocks mentioned in my newsletter tumbled precipitously. For example, Arch Coal (NYSE: ACI) and Peabody Energy (NYSE: BTU) lost roughly a quarter of their value by the end of July and Ultra Petroleum (NYSE: UPL) and Southwestern Energy (NYSE: SWN) which had been up over 40% through June ended July up a relatively paltry 4% and 11% respectively.

I find this interesting because it violates one of the basic theories I have about what moves stock prices. This beat-and-raise theory says that if a company beats earnings estimates and raises its guidance, then the stock will rise. Otherwise it will fall. In the case of these four companies, each of them with the exception of Ultra which did not report, reported doubling or tripling of earnings and raised their guidance.

So why did their stocks fall? In the case of the oil and gas companies, it could be because of declining oil prices. Those peaked at $146 a barrel and recently traded at $127. But I am not aware of any diminution in the price of coal for which demand is strong due to Chinese and Indian infrastructure investment among other factors. Coal is used to make steel and to fire up power plants.

Continue reading Is the commodity bubble bursting?

Is the commodity bubble bursting? originally appeared on BloggingStocks on Sat, 02 Aug 2008 18:00:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Citigroup initiated Smart Balance (NASDAQ: SMBL) with a Hold rating and $9 target, as they believe success of the company's new products is not a foregone conclusion and prefers to wait for increased visibility before becoming more positive on the name.
  
• JP Morgan believes Cascal NV (NYSE: HOO) will leverage its global scale and expertise in water infrastructure markets to drive 25% annual EPS growth through 2010. The firm has an Overweight rating on the stock.
  
• Ashland (NYSE: ASH) was started with a Positive rating as Susquehanna, as they are positive on ASH's earnings power. The firm views shares as a compelling risk/reward opportunity.

• Broadpoint assumed SuccessFactors (NASDAQ: SFSF) with a Strong Buy rating and $12 target.
  
• Morgan Stanley initiated Fastenal (NASDAQ: FAST) with an Equal Weight rating and $40 target.
  
• RBC Capital started Ultra Petroleum (NYSE: UPL) with a Sector Perform rating and $80 target.

Analyst initiations: SMBL, HOO and ASH originally appeared on BloggingStocks on Mon, 10 Mar 2008 11:56:00 EST. Please see our terms for use of feeds.

Murphy Oil (NYSE: MUR), a global oil and gas exploration and production company with refining and marketing operations, will report Q4 EPS on January 31. MUR overall option implied volatility of 40 is above its 26-week average of 33 according to Track Data, suggesting larger price fluctuations.

Ultra Petroleum (NYSE: UPL) is an independent, exploration and production company with gas operations focused in the Green River Basin of southwest Wyoming. Natural Gas Futures are down 2.35% to 7.805 according to Bloomberg. UPL overall option implied volatility of 39 is above its 26-week average of 35 according to Track Data, suggesting larger price risk.

Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Options update 1-22-08: Gas firms MUR, UPL volatility up originally appeared on BloggingStocks on Tue, 22 Jan 2008 09:55:00 EST. Please see our terms for use of feeds.

Continue reading Ultra Petroleum (UPL) is well-positioned in a preferred energy form

Ultra Petroleum (UPL) is well-positioned in a preferred energy form originally appeared on BloggingStocks on Mon, 14 Jan 2008 17:23:00 EST. Please see our terms for use of feeds.