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Market Overview

3 Wall Street Firms Pick Top E&P Stocks


Several major Wall Street firms have weighed in on exploration and production (E&P) stocks this week. The majority of E&P stocks are now priced at only a fraction of where they were just a year ago.

For some companies, current share prices offer a great investment opportunity for a long-term recovery. For other companies, liquidity issues and other concerns could mean that the worst is yet to come.

Here’s a summary of what these three firms had to say about which E&P names investors should be buying now.

Northland Capital Markets

Northland is expecting increased volatility in the E&P space surrounding Friday’s OPEC meeting. Northland has an Outperform rating on the following names:

  • Bellatrix Exploration Ltd (NASDAQ: BXE)
  • Bonanza Creek Energy Inc (NASDAQ: BCEI)
  • Callon Petroleum Co (NASDAQ: CPE)
  • Carrizo Oil & Gas Inc (NASDAQ: CRZO)
  • Diamondback Energy Inc (NASDAQ: FANG)
  • Earthstone Energy Inc (NASDAQ: ESTE)
  • EP Energy Corp (NASDAQ: EPE)
  • Evolution Petroleum Corp (NASDAQ: EPM)
  • Gulfport Energy Corp (NASDAQ: GPOR)
  • Matador Resources Co (NASDAQ: MTDR)
  • Midstates Petroleum Company Inc (NASDAQ: MPO)
  • Osage Exploration and Development Inc (NASDAQ: OEDV)
  • Parsley Energy Inc (NASDAQ: PE)
  • Rex Energy Corp (NASDAQ: REXX)
  • Ring Energy Inc (NASDAQ: REI)
  • RSP Permian Inc (NASDAQ: RSPP)
  • Sanchez Energy Corp (NASDAQ: SN)
  • Synergy Resources Corp (NASDAQ: SYRG)
  • Viper Energy Partners LP (NASDAQ: VNOM)

Credit Suisse

Credit Suisse remains a buyer of E&Ps with high-quality assets and strong balance sheets. Credit Suisse has Outperform ratings on the following stocks:

  • Antero Resources Copr (NASDAQ: AR)
  • PDC Energy (NASDAQ: PDCE)
  • Penn Virginia Corp (NASDAQ: PVA)
  • Range Resources (NASDAQ: RRC)
  • Bonanza Creek Energy
  • Diamondback Energy
  • Gulfport Energy
  • Sanchez Energy

BMO Capital Markets

BMO sees leverage, rather than liquidity, as the key issue for many E&Ps moving forward. BMO has Outperform ratings on the following E&P stocks:

  • Rice Energy Inc (NYSE: RICE)
  • Memorial Resource Development Corp (NASDAQ: MRD)
  • SM Energy Co (NYSE: SM)
  • Matador Resources Co (NYSE: MTDR)
  • Bonanza Creek Energy
  • PDC Energy
  • Carrizo Oil & Gas

Latest Ratings for CPE

Mar 2021Morgan StanleyMaintainsEqual-Weight
Mar 2021Johnson RiceUpgradesHoldAccumulate
Mar 2021MKM PartnersDowngradesBuyNeutral

View More Analyst Ratings for CPE
View the Latest Analyst Ratings


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Posted-In: BMO Capital Credit Suisse Northland CapitalAnalyst Color Long Ideas Analyst Ratings Trading Ideas

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