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Goldman Cuts Brent Forecasts (And Gives E&P M&A Ideas)

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Benzinga's Top Upgrades, Downgrades For October 13, 2017

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

DateFirmActionFromTo
Feb 2018Goldman SachsUpgradesSellNeutral
Jan 2018Morgan StanleyMaintainsUnderweightUnderweight
Dec 2017Seaport GlobalUpgradesSellNeutral

View More Analyst Ratings for WLL
View the Latest Analyst Ratings

Posted-In: Brent E&P M&A Goldman SachsAnalyst Color Commodities Markets Analyst Ratings

 

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