Topic: How To Invest

I would like your take on ATP Oil & Gas.

Article Excerpt

ATP Oil & Gas, $6.36, symbol ATPG on Nasdaq, (Shares outstanding: 35.9 million; Market cap: $228.0 million) is an offshore oil and gas development and production company. ATP has operations in the Gulf of Mexico and in the British and Dutch sectors of the North Sea. The company first sold shares to the public and began trading on Nasdaq at $14 in February, 2001. Houston, Texas-based ATP focuses on development rather than exploration. ATP’s strategy is to acquire and develop offshore properties that have some proven undeveloped reserves, but are too small to interest major oil and gas companies. About two-thirds of ATP’s reserves are in the Gulf of Mexico and one third is in the North Sea. The company’s product mix is 60% natural gas and 40% oil. In the three months ended September 30, 2008, cash flow per share fell 4.2%, to $2.07 from $2.16 a year earlier. Revenues rose 1.4%, to $118.3 million from $116.7 million. In the latest…