Pritchard Capital Provides Color on Exploration and Production
Pritchard Capital provided color on the exploration and production sector. In a research report published today, the rating agency named its top picks, among other things.
In the report, Pritchard states, “For the week, E&P stocks rose by 5.9% while the 12-month forward NYMEX gas curve increased by 5%. Weekly summary of stock catalysts, comparative shale economics, hedge positions, historic multiples and valuation comp tables… Top Fundamental Picks: Apache Corporation (APA-$123.52), Bill Barrett Corporation (BBG-$46.52), Devon Energy Corporation (DVN-$80.46), Brigham Exploration Co. (BEXP-$32.41), Gastar Exploration Ltd (GST-$3.88) and Goodrich Petroleum Corporation (GDP-$18.73).”
On Friday, Apache (NYSE: APA) added 3.02% to its value to finish the day at $123.52, while Bill Barrett (NYSE: BBG) rose 6.06% to close the day at $46.52. At the same time, Gastar Exploration (NYSE: GST) added 0.26% to its value on Friday to end the day at $3.88, while Goodrich Petroleum (NYSE: GDP) rose 8.27% to finish the week at $18.73. Brigham Exploration (NASDAQ: BEXP) added 8.43% to its value on Friday to finish the week at $32.41. Its shares lost some of Friday's gains in today's pre-market trading, falling 0.96% to stand around $32.10. Finally, Devon Energy (NYSE: DVN) added 3.31% to its value on Friday to close the week at $80.46. Its shares lost some of Friday's gains in today's pre-market trading, falling 0.14% to trade around $80.35.
