E&P Sector to be Impacted by Commodity Prices in 2010

Robert S Morris of Citi said that shares in the E&P sector are likely to be impacted by commodity prices in 2010. The analyst added that the consensus expectations for oil prices were low and should be raised.

According to Citi, there is an upside to the stocks of companies that have higher exposure to oil than those that have exposure to natural gas. The analyst initiated coverage of Anadarko Petroleum Corporation (NYSE: APC), Apache Corporation (NYSE: APA), Canadian Natural Resource Ltd (USA) (NYSE: CNQ), EOG Resources Inc (NYSE: EOG), Talisman Energy Inc (USA) (NYSE: TLM) and XTO Energy Inc (NYSE: XTO).