Here’s Why These 3 Energy

Stocks Moved 20% This Week

This was a rather quiet week in the energy sector, but that didn’t

stop some energy stocks from moving 20%+ on the week.

Here’s a closer look at the three energy stocks that made some of the biggest moves this week.

Photo credit: TaxCredits.net

What:

The biggest mover to the downside was mid-continent driller SandRidge Energy (NYSE: SD), which plunged more than 25.3% this week.

So What:

Key driver: A debt-for-equity exchange agreement with a bondholder

SandRidge is exchanging $50 million of bonds for nearly 28 million shares of its stock

Now What:

S&P cut SandRidge’s credit rating from B to CCC+ as the exchange signals its debt might be a distressed exchange

Key takeaway: With $3.4 billion in debt, the $50 million exchange doesn’t solve its problem and might make matters worse

What:

On the upside, Williams Partners (NYSE: WPZ) soared 21.5% after it agreed to be bought out by its general partner.

So What:

Key driver: Williams Partners agreed to be acquired in a unit-for-stock deal by its general partner and largest investor, Williams Companies (NYSE: WMB), for an 18% premium.

Now What:

The deal will lead to faster dividend growth at Williams, estimated at 10%-15% annually through 2020

Key takeaway: Investors like the move as it will lead to faster growth and better dividend coverage

What:

The last big mover, Rosetta Resources (NASDAQ: Rose), jumped 24.7% this week.

So What:

Key driver: Rosetta Resources agreed to a merger deal with Noble Energy (NYSE:NBL)

The stock-for-stock deal is for a 28% premium to Rosetta’s average trading price during the past month

Now What:

In agreeing to a stock-for-stock deal, Rosetta’s investors keep the upside as they’ll own 9.6% of the combined company

However, the deal became a necessity as Rosetta’s debt was hampering its ability to grow

Key takeaway: The deal is the first mega-merger of a U.S. shale player since oil prices collapsed last year and could be a forerunner of future deals

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