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COPYRIGHT 2002 Access Intelligence, LLC.
Energy-industry stocks lost an average 7.8% in 2001, among 307 companies surveyed this year by independent research firm John S. Herold Inc., Norwalk, Connecticut.
"Stock-price gains did not come easily last year," analysts Nick Cacchione, Bob Gillon and Aaron Johnson report in the firm's annual year-end review of energy-stock performances. The year began with nearly $10 natural gas prices, while oil was more than $25 per barrel. But these declined to less than $3 and $20, respectively, by year-end.
Some E&P stocks did well, nonetheless. "Congratulations to the owners of top-performing Enex Resources, which soared 166% after getting a takeover proposal from 3Tec Energy," the analysts report. "Enex was a...
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