All Of Seaport Global's Energy Ratings Changes

Seaport Global disclosed rating changes for seven companies in the energy sector. Of these seven, the brokerage upgraded five while downgrading the other two. Significantly, there is no Sell rating on any of the stocks. Similarly, no price targets were slashed for any of the companies under review.


The following shares were upgraded by Seaport Global:

  • Jones Energy Inc JONE: After a suspended rating, the brokerage rated the stock Accumulate, citing compelling valuation after transformative SCOOP/STACK acquisition, which boosts IRR potential. The price target is set at $3.50.
  • Laredo Petroleum Inc LPI: Seaport upgraded it from Sell to Neutral citing improved economics and returns from projects. The price tag was raised from $8 to $11.
  • Oasis Petroleum Inc. OAS: Upgraded from Neutral to Accumulate driven by changes in well expenses. Debt-adjusted production and momentum from midstream business are cited as favorable catalysts. The price target was lifted from $10 to $12.
  • PDC Energy Inc PDCE: Shares were upgraded from Neutral to Buy following the addition of 57,000 net acres in the Delaware Basin, thus removing concerns on inventory. The price objective was lifted from $61 to $87.
  • SM Energy Co SM: Seaport upgraded the shares from Neutral to Buy citing compelling valuation due to 41,000 core Permian acreage. The price tag was increased from $30 to $53.

Related Link: Parsley Energy Named A Top Pick At Morgan Stanley, Positive On Company's Multiple Expansion


The following shares were downgraded by Seaport Global:

  • Marathon Oil Corporation MRO: The brokerage downgraded the shares from Buy to Neutral citing 54 percent upside movement after March 30, thus closing the valuation gap. However, the brokerage maintains the $17 price tag on the stock.
  • Rice Energy Inc RICE: Seaport downgraded Rice to Neutral from Buy, as the stock moved 100 percent since the March 30 upgrade and closed the valuation gap. However, the brokerage lifted its price objective from $26 to $29.

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Posted In: energySeaport GlobalAnalyst ColorLong IdeasUpgradesDowngradesPrice TargetCommoditiesInitiationMarketsAnalyst RatingsTrading IdeasGeneral

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