Can These Stocks Smooth Out The Bump? Laredo Petroleum Inc (LPI), Ruckus Wireless Inc (RKUS) and BreitBurn Energy Partners L.P. (BBEP)
New York, NY – GDP INSIDER – 04/14/2014.
This article discusses three companies: Laredo Petroleum Inc (NYSE:LPI), Ruckus Wireless Inc (NYSE:RKUS) and BreitBurn Energy Partners L.P. (NASDAQ:BBEP)
Laredo Petroleum Inc (NYSE:LPI) fell by 2.43% in trading on Monday to $14.08. The oil & gas exploration and production company was more bullish on its 2015 production forecast. It expects full-year output of 15.6 – 16 million barrels of oil equivalent. This is an increase of 13% -16%. This was an increase from its December forecast for an increase of 12% following a 47% increase last year. This increase also means higher capex for the firm. Investors reacted negatively to the news, hold for now.
Ruckus Wireless Inc (NYSE:RKUS) shares were down 6.3% yesterday and it trades in middle part of its $8.65 – $15.21. The stock was removed from Goldman Sachs Conviction list and that caused the decline in the share price. That said, Goldman Sachs maintained a Buy rating on Ruckus Wireless and a target price of $16. The stock closed Monday at $12.14. Ruckus has an MFI indicator reading of 47.45 and an RSI of 42.98. RKUS shares continue to have upside and these technical readings support the view that they are pushing the top of their range.
BreitBurn Energy Partners L.P. (NASDAQ:BBEP) shares have struggled for the past year and continue to trade at the bottom of their 52-week range of $4.55 – $23.15. The company made acquisitions in the past that created the largest upstream weighted MLP. The deals allowed it to grow its distributions substantially over that period. However, it made a deal to buy QR Energy last year at the top of the oil market. Oils price decline after the deal led to company to cut distributions and seek another billion in funding. Positively, the company did hedge much of its production and a rebound in oil prices could alleviate concerns and send the shares higher.
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