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.

Outlook

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 price is coming in the near future.

Analysts initiated mostly bullish coverage on the following stocks:

• Concho Resources CXO-Buy, $149 target
• Canadian Natural Resources Ltd CNQ-Buy
• Range Resources Corp RRC-Buy, $71 target
• Newfield Exploration Co NFX-Buy, $47 target
• Marathon Oil Corp MRO-Buy, $36 target
• Anadarko Petroleum Corp APC-Buy, $104 target
• Continental Resources Inc CLR-Buy, $61 target
• Encana Corp ECA-Buy, $16 target
• EOG Resources Inc EOG- Buy, $112 target
• Pioneer Natural Resources Co PXD-Buy, $212 target
• Suncor Energy Inc SU-Buy
• Apache Corp APA-Reduce, $63 target
• Chesapeake Energy Corp CHK-Reduce, $13 target
• Cenovus Energy Inc CVE-Reduce
• Denbury Resources DNR-Reduce, $9 target
• Noble Energy NBL-Reduce, $48 target
• Cabot Oil & Gas Corp COG-Neutral, $33 target
• ConocoPhillips COP-Neutral, $70 target
• Devon Energy Corp DVN-Neutral, $74 target
• Hess Corp HES-Neutral, $85 target
• Murphy Oil Corp MUR-Neutral, $52 target
• Oasis Petroleum Inc OAS-Neutral, $17 target
• Southwestern Energy Corp SWN-Neutral, $27 target
• Ultra Petroleum Corp UPL-Neutral, $17 target
• Whiting Petroleum Corp WLL-Neutral, $39 target
• Climarex Energy Corp XEC-Neutral, $130 target