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Stock Market & Financial Investment News

News Breaks
November 29, 2012
18:30 EDTLRELRR Energy to acquire oil and gas producing properties from Lime Rock Resources
LRR Energy (LRE)announced that it signed a definitive agreement to acquire oil and natural gas properties in the Mid-Continent region in Oklahoma from its sponsor, Lime Rock Resources, for a purchase price of $21M, subject to customary purchase price adjustments. As part of the transaction, LRE will acquire commodity hedge contracts that LRE estimates to be currently valued at approximately $1.7M. The purchase price will be adjusted based on the value of the hedge contracts at the closing of the transaction. The effective date of the transaction is October 1, and closing of the transaction is expected to occur on or about January 3, 2013, and is subject to customary approvals and closing conditions. LRE plans to finance the transaction with borrowings under its existing revolving credit facility. Terms of the transaction were approved on November 29 by the Board of Directors of the general partner of LRE and by the Board's conflicts committee, which is comprised entirely of independent directors. The properties are located in Dewey and Custer Counties, Oklahoma. The acquisition is expected to be immediately accretive to distributable cash flow per unit.
News For LRE From The Last 14 Days
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March 25, 2015
10:00 EDTLREOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AB InBev (BUD) downgraded to Reduce from Overweight at HSBC... BreitBurn Energy (BBEP) downgraded to Sell from Neutral at UBS... DiamondRock (DRH) downgraded to Reduce from Neutral at SunTrust... Ethan Allen (ETH) downgraded to Hold from Buy at Gabelli... Felcor Lodging (FCH) downgraded to Neutral from Buy at SunTrust... Finish Line (FINL) downgraded to Neutral from Buy at B. Riley... Hannover Re (HVRRY) downgraded to Sell from Hold at Deutsche Bank... Hersha Hospitality (HT) downgraded to Reduce from Neutral at SunTrust... Host Hotels (HST) downgraded to Reduce from Neutral at SunTrust... ING Groep (ING) downgraded to Neutral from Buy at Goldman... Informatica (INFA) downgraded to Neutral from Buy at Mizuho... Kofax (KFX) downgraded to Hold from Buy at Canaccord... LRR Energy (LRE) downgraded to Sell from Neutral at UBS... LaSalle Hotel (LHO) downgraded to Reduce from Neutral at SunTrust... Munich Re (MURGY) downgraded to Sell from Hold at Deutsche Bank... Orbital ATK (OA) downgraded to Market Perform from Outperform at Wells Fargo... PCTEL, Inc. (PCTI) downgraded to Neutral from Buy at B. Riley... Quest Diagnostics (DGX) downgraded to Hold from Buy at Deutsche Bank... SJW Corp. (SJW) downgraded to Neutral from Outperform at RW Baird... Selective Insurance (SIGI) downgraded to Neutral from Buy at BofA/Merrill... Sonus (SONS) downgraded to Hold from Buy at Wunderlich... Starwood (HOT) downgraded to Neutral from Buy at SunTrust... Synchrony Financial (SYF) downgraded to Neutral from Buy at BofA/Merrill... Tesla (TSLA) downgraded to Underperform from Outperform at CLSA... Twitter (TWTR) downgraded to Hold from Buy at Pivotal Research... ZAGG (ZAGG) downgraded to Market Perform from Outperform at Northland... iDreamSky (DSKY) downgraded to Neutral from Overweight at JPMorgan.
05:30 EDTLRELRR Energy downgraded to Sell from Neutral at UBS
UBS downgraded LRR Energy to Sell saying leverage above four times, upcoming debt redeterminations and weak commodity pricing create the potential for significant distribution cuts. UBS cut its price target for shares to $5 from $7.

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