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

/ April 23, 2015

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 CXO 2.33%-Buy, $149 target
  • Canadian Natural Resources Ltd CNQ 1.69%-Buy
  • Range Resources Corp RRC 2.01%-Buy, $71 target
  • Newfield Exploration Co NFX 0.71%-Buy, $47 target
  • Marathon Oil Corp MRO 0.66%-Buy, $36 target
  • Anadarko Petroleum Corp APC 0.45%-Buy, $104 target
  • Continental Resources Inc CLR 1.54%-Buy, $61 target
  • Encana Corp ECA 1.15%-Buy, $16 target
  • EOG Resources Inc EOG 0.58%- Buy, $112 target
  • Pioneer Natural Resources Co PXD 1.29%-Buy, $212 target
  • Suncor Energy Inc SU 0.58%-Buy
  • Apache Corp APA 0.81%-Reduce, $63 target
  • Chesapeake Energy Corp CHK 0.9%-Reduce, $13 target
  • Cenovus Energy Inc CVE 2.88%-Reduce
  • Denbury Resources DNR 2.44%-Reduce, $9 target
  • Noble Energy NBL 0.64%-Reduce, $48 target
  • Cabot Oil & Gas Corp COG 0.7%-Neutral, $33 target
  • ConocoPhillips COP 0.56%-Neutral, $70 target
  • Devon Energy Corp DVN 0.71%-Neutral, $74 target
  • Hess Corp HES 0.69%-Neutral, $85 target
  • Murphy Oil Corp MUR 0.18%-Neutral, $52 target
  • Oasis Petroleum Inc OAS 0.06%-Neutral, $17 target
  • Southwestern Energy Corp SWN 0.04%-Neutral, $27 target
  • Ultra Petroleum Corp UPL 1.77%-Neutral, $17 target
  • Whiting Petroleum Corp WLL 1.41%-Neutral, $39 target
  • Climarex Energy Corp XEC 0.44%-Neutral, $130 target

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