Market Overview

Nomura: It's Finally Time To Buy E&P Stocks

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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 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

DateFirmActionFromTo
Dec 2017Credit SuisseInitiates Coverage OnNeutral
Nov 2017BarclaysMaintainsUnderweight
Nov 2017Bank of AmericaMaintainsUnderperform

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View the Latest Analyst Ratings

Posted-In: Analyst Color Long Ideas Price Target Initiation Analyst Ratings Trading Ideas

 

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