Pritchard Capital Provides Color on Exploration and Production Sector

Pritchard Capital provided color on the exploration and production sector.

In the report, Pritchard states, “For the week, E&P stocks remained flat while the 12-month forward NYMEX gas curve declined by 2.5%... Top Fundamental Picks: Apache Corporation (APA-$115.98), Bill Barrett Corporation (BBG-$44.92), Devon Energy Corporation (DVN-$76.61), Petrohawk Energy Corporation (HK-$23.24), Gastar Exploration Ltd (GST-$3.39) and Goodrich Petroleum Corporation (GDP-$17.98).”

On Friday, Apache (NYSE: APA) lost 1.22% of its value to finish the day at $115.98. Its shares edged a bit higher in today's pre-market trading, however, rising 0.02% to $116. Bill Barrett (NYSE: BBG) lost 0.29% of its value on Friday to close the day at $44.92, while Devon Energy (NYSE: DVN) lost 1.14% to finish the day at $76.61. A bad day for the sector's companies continues with Petrohawk Energy (NYSE: HK), whose shares retreated 2.72% on Friday to end the day at $23.24. Petrohawk continued to shed value in today's pre-market trading, as its shares fell 2.28% to $22.71. Small losses on Friday suffered Gastar Exploration (NYSE: GST) and Goodrich Petroleum (NYSE: GDP), whose share fell by 0.29% and 0.39% to $3.39 and $17.98 respectively.