Goldman Cuts Brent Forecasts (And Gives E&P M&A Ideas)
The investment bank issued a broad swatch of comments on the global oil sector.
Aside from numerous downgrades, Goldman Sachs is also fearful of regional oil performance in China, Austria and the Association of Southeast Asian Nations (ASEAN).
One special bit that sticks out is the estimation from Goldman for asset quality appeal to potential buyers of E&P:
Also of note, Whiting Petroleum Corp (NYSE: WLL) is the only stock -- in Goldman Sachs' view -- that has all three favorable qualities in its M&A screen: Attractive M&A returns, free cash and asset quality.
Newfield Exploration Co. (NYSE: NFX), Marathon Oil Corporation (NYSE: MRO), PDC Energy Inc (NASDAQ: PDCE), Hess Corp. (NYSE: HES), Oasis Petroleum Inc. (NYSE: OAS) and a handful of others are stocks the bank says has two of three favorable conditions.
Latest Ratings for WLL
|Dec 2016||Wells Fargo||Downgrades||Outperform||Market Perform|
|Dec 2016||Stifel Nicolaus||Upgrades||Hold||Buy|
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