SOURCE: Five Star Equities

Five Star Equities

June 12, 2012 08:20 ET

Energy Stocks Struggle as Oil Prices Continue to Slide

Five Star Equities Provides Stock Research on Magnum Hunter Resources and ATP Oil & Gas

NEW YORK, NY--(Marketwire - Jun 12, 2012) - Oil stocks have struggled over the last month amongst concerns of a potential financial crisis in Europe. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has fallen nearly 10 percent in the past month. Since Europe accounts for approximately 20 percent of the world's consumption of oil, a weak economy would weigh heavily on oil demand. Five Star Equities examines the outlook for companies in Oil and Gas Industry and provides equity research on Magnum Hunter Resources Corp. (NYSE: MHR) and ATP Oil & Gas Corporation (NASDAQ: ATPG).

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"There have been no 'game changers' this week," said Julian Jessop, chief global economist for Capital Economics. "The prices of commodities should end the year much lower than they are now."

Oil prices dipped below $83 a barrel last Friday after Federal Reserve Chairman Ben Bernanke comments gave no hint of stimulus from the central bank to help boost the economy. Bernanke stated that the Federal Reserve was ready to take action if Europe's problems began to threaten the U.S. economy, but gave no hint that any additional measures were coming in the near future. After factoring in a less-than stellar global economic outlook Barclays expects crude to trade "sideways" for the next few weeks.

Five Star Equities releases regular market updates on companies in the Oil & Gas Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Magnum Hunter Resources is presently active in three of the most prolific unconventional shale resource plays in North America, namely the Marcellus Shale, Utica Shale, Eagle Ford Shale and Williston Basin/Bakken Shale. The company recently announced the acquisition of certain Bakken/Three Forks Sanish properties located in the Williston Basin of North Dakota for $311 million.

ATP Oil & Gas is an international offshore oil and gas development and production company with operations in the Gulf of Mexico, Mediterranean Sea and the North Sea. ATP bonds hit their lowest levels after the company's new CEO Matt McCarroll resigned, just a week after being appointed.

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