Paul Ferretti has joined Ferris Baker Watts as an equity oil analyst. He has initiated coverage on GMX Resources (Nasdaq: GMXR), American Oil & Gas (Amex: AEZ), Gasco Energy Inc. (Amex: GSX) and Warren Resources Inc. (Nasdaq: WRES) and will be adding up to five more stocks by year-end.

Previously, he was a managing director with Morgan Joseph & Co.'s equity-research department; a senior energy analyst with Ladenburg Thalmann & Co.; and held similar positions with Dresdner Kleinwort Wasserstein, ABN Amro and Dillon Read & Co.

Ferretti will be based in Baltimore and can be reached at 410-659-0376.

Jay Saunders has joined privately held New York-based asset manager Jennison Associates as an energy analyst. Saunders was an oil analyst with Deutsche Bank.