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UPDATE: D.A. Davidson Reiterates On ViewPoint Financial Following OPEC Decision

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In a report published Monday, D.A. Davidson analyst Gary P. Tenner reiterated a Buy rating on ViewPoint Financial Group (NASDAQ: VPFG), but lowered the price target from $31.00 to $30.00.

In the report, D.A. Davidson noted, “Thanksgiving Day's OPEC decision to keep production targets unchanged at 30 million barrels/day resulted in a further decline in per barrel oil prices to $68.83 versus the 2014 high of $107.95, the lowest crude prices reported in over four years. While lower gas prices are a boon to the consumer, we think there is some risk to the growth rates of economies that are particularly energy-centric, particularly Oklahoma and Texas. The U.S. Energy Information Administration reports that energy production and mining accounted for approximately 13% of Oklahoma's 2013 GDP and 11% of Texas'. Wyoming (35%), Alaska (25%), West Virginia (17%) and North Dakota (14%) were the other four states where energy production and mining exceeded 10% of 2013 GDP.”

ViewPoint Financial closed on Friday at $23.84.

Latest Ratings for VPFG

DateFirmActionFromTo
Dec 2014MaintainsBuy
Nov 2013MaintainsBuy
Nov 2013MaintainsOutperform

View More Analyst Ratings for VPFG
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Posted-In: D.A. Davidson Gary P. TennerAnalyst Color Price Target Analyst Ratings

 

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