Nomura: It's Finally Time To Buy E&P Stocks
Analysts at Nomura released a new report in which they initiated coverage on a long list of stocks within the U.S. Energy sector.
The report focused on Exploration and Production (E&P) companies.
Analysts have a bullish view on North American E&P overall, despite noting that the S&P 500 is at all-time highs.
Analysts believe that oil prices, which are down nearly 50 percent in the past year, drive the performance of many E&P stocks, and they believe that a recovery in oil prices is coming in the near future.
Analysts initiated mostly bullish coverage on the following stocks:
- Concho Resources (NYSE: CXO)-Buy, $149 target
- Canadian Natural Resources Ltd (NYSE: CNQ)-Buy
- Range Resources Corp (NYSE: RRC)-Buy, $71 target
- Newfield Exploration Co (NYSE: NFX)-Buy, $47 target
- Marathon Oil Corp (NYSE: MRO)-Buy, $36 target
- Anadarko Petroleum Corp (NYSE: APC)-Buy, $104 target
- Continental Resources Inc (NYSE: CLR)-Buy, $61 target
- Encana Corp (NYSE: ECA)-Buy, $16 target
- EOG Resources Inc (NYSE: EOG)- Buy, $112 target
- Pioneer Natural Resources Co (NYSE: PXD)-Buy, $212 target
- Suncor Energy Inc (NYSE: SU)-Buy
- Apache Corp (NYSE: APA)-Reduce, $63 target
- Chesapeake Energy Corp (NYSE: CHK)-Reduce, $13 target
- Cenovus Energy Inc (NYSE: CVE)-Reduce
- Denbury Resources (NYSE: DNR)-Reduce, $9 target
- Noble Energy (NYSE: NBL)-Reduce, $48 target
- Cabot Oil & Gas Corp (NYSE: COG)-Neutral, $33 target
- ConocoPhillips (NYSE: COP)-Neutral, $70 target
- Devon Energy Corp (NYSE: DVN)-Neutral, $74 target
- Hess Corp (NYSE: HES)-Neutral, $85 target
- Murphy Oil Corp (NYSE: MUR)-Neutral, $52 target
- Oasis Petroleum Inc (NYSE: OAS)-Neutral, $17 target
- Southwestern Energy Corp (NYSE: SWN)-Neutral, $27 target
- Ultra Petroleum Corp (NYSE: UPL)-Neutral, $17 target
- Whiting Petroleum Corp (NYSE: WLL)-Neutral, $39 target
- Climarex Energy Corp (NYSE: XEC)-Neutral, $130 target
Latest Ratings for APA
|Sep 2016||Mitsubishi UFJ||Initiates Coverage on||Neutral|
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