CVR Energy, Inc. (CVI), Tesoro Co. (TSO), Anadarko Petroleum (APC), Hess Corp. (HES), Marathon Oil Co. (MRO), Talisman Energy (TLM) and AeroVironment (AVAV) had ratings and price targets on them adjusted by analysts.
Macquarie downgraded CVR Energy, Inc. (CVI) from a "Outperform" rating to a "Neutral" rating.
Bank of America upgraded Tesoro Co. (TSO) from a "Underperform" rating to a "Neutral" rating.
Global Hunter Securities initiated coverage on Anadarko Petroleum (APC). They placed a "Buy" rating and price target of $102.00 on the company.
Global Hunter Securities initiated coverage on Hess Corp. (HES). They placed a "Neutral" rating and price target of $70.00 on the company.
Global Hunter Securities initiated coverage on Marathon Oil Co. (MRO). They placed a "Neutral" rating and price target of $37.00 on the company.
Global Hunter Securities initiated coverage on Talisman Energy (TLM). They placed a "Neutral" rating " rating and price target of $14.50 on the company.
EarlyBird Capital downgraded AeroVironment (AVAV) from a "Buy" rating to a "Hold" rating.
Showing posts with label Hess. Show all posts
Showing posts with label Hess. Show all posts
Wednesday, March 7, 2012
Tuesday, November 23, 2010
Hess (NYSE:HES) Expands Bakken Holdings at Bargain Price
Hess Corp. (NYSE:HES) enlarged its holdings in the Bakken shale, acquiring an additional 167,000 acres at a bargain price of $4,500 an acre.
"HES agreed to acquire 167,000 net acres in the Bakken shale play from privately held TRZ Energy for $1.05 billion in cash, or an attractive price of -$4,500/acre after adjusting for 4.4 MBoed of production. This is well below the $8,500/acre price paid by WMB last week, the $5,000/acre paid for AEZ’s acreage, and other recent deal metrics of $5,500-$6,500/acre. The transaction will be funded by HES’ $2.4 billion cash balance at the end of 3Q, and is expected to close by year-end," said UBS.
UBS reiterated their "Buy" rating on Hess, which was trading at $68.86, losing $0.83, or 1.19 percent at 12:32 PM EST. UBS has a price target of $78 on Hess, increasing it from $76.
"HES agreed to acquire 167,000 net acres in the Bakken shale play from privately held TRZ Energy for $1.05 billion in cash, or an attractive price of -$4,500/acre after adjusting for 4.4 MBoed of production. This is well below the $8,500/acre price paid by WMB last week, the $5,000/acre paid for AEZ’s acreage, and other recent deal metrics of $5,500-$6,500/acre. The transaction will be funded by HES’ $2.4 billion cash balance at the end of 3Q, and is expected to close by year-end," said UBS.
UBS reiterated their "Buy" rating on Hess, which was trading at $68.86, losing $0.83, or 1.19 percent at 12:32 PM EST. UBS has a price target of $78 on Hess, increasing it from $76.
Friday, November 5, 2010
Hess (NYSE:HES), Petrobras (NYSE:PBR), PetroChina (NYSE:PTR) Surge on Rising Oil Prices
Hess Corporation (NYSE:HES), Petrobras (NYSE:PBR), PetroChina (NYSE:PTR) were all moving up Thursday on the inflationary measures put in place by the Federal Reserve through QE2, which pushed the broader commodity market up, along with raw materials companies within each sector, including the oil producers.
Commodity prices overall rose, including silver, which increased to over $26 an ounce. Gold prices rose to all-time record highs again, closing in on the $1,400 an ounce mark. Aluminum surged to its highest levels since April.
Light, sweet crude for December delivery settled the trading day up $1.80 a barrel on the New York Mercantile Exchange at $86.49.
Hess Corporation closed at $69.25 Thursday, rising $2.81, or 4.23 percent. Petrobras surged to close at $20.42, gaining $0.96, or 4.93 percent. PetroChina was up to $131.06 at the end of the trading day, rising by $2.25, or 1.75 percent.
Commodity prices overall rose, including silver, which increased to over $26 an ounce. Gold prices rose to all-time record highs again, closing in on the $1,400 an ounce mark. Aluminum surged to its highest levels since April.
Light, sweet crude for December delivery settled the trading day up $1.80 a barrel on the New York Mercantile Exchange at $86.49.
Hess Corporation closed at $69.25 Thursday, rising $2.81, or 4.23 percent. Petrobras surged to close at $20.42, gaining $0.96, or 4.93 percent. PetroChina was up to $131.06 at the end of the trading day, rising by $2.25, or 1.75 percent.
Thursday, September 23, 2010
Exxon (NYSE:XOM), Forest Oil (NYSE:FST) Downgraded by Howard Weil, Hess (NYSE:HES) Upgraded
Howard Weil sent a couple of mixed signals with the oil sector, downgrading ExxonMobil (NYSE:XOM) and Forest Oil (NYSE:FST), while upgrading Hess Corp. (NYSE:HES).
Exxon was downgraded from "Focus Stock" to "Market Outperform" with the price target lowered from $81 to $77.
The oil giant closed at $61.45, providing an approximate 25 percent upside for the stock.
Forest Oil was downgraded from "Market Outperform" to "Market Perform," with the price target lowered from $39 to $34. Forest closed Wednesday at $29.22, down $0.29, or 0.98 percent.
Hess on the other hand was upgraded from "Market Perform" to "Market Outperform. The price target on Hess was downwardly revised from $78 to $73.
Hess closed at $65.40, gaining $0.25, or 0.46 percent.
Exxon was downgraded from "Focus Stock" to "Market Outperform" with the price target lowered from $81 to $77.
The oil giant closed at $61.45, providing an approximate 25 percent upside for the stock.
Forest Oil was downgraded from "Market Outperform" to "Market Perform," with the price target lowered from $39 to $34. Forest closed Wednesday at $29.22, down $0.29, or 0.98 percent.
Hess on the other hand was upgraded from "Market Perform" to "Market Outperform. The price target on Hess was downwardly revised from $78 to $73.
Hess closed at $65.40, gaining $0.25, or 0.46 percent.
Monday, September 20, 2010
Conoco (NYSE:COP), Exxon (NYSE:XOM) Earnings Cut by Credit Suisse (NYSE:CS)
Credit Suisse (NYSE:CS) slashed earnings estimates on a number of oil and gas producers, basing their decision on lower price expectations for oil and gas in 2011.
For the overall average price of oil, Credit Suisse is looking at $72.50 a barrel next year. For gas, CS sees the price in a range dropping from their prior $6.50 down to $5.25 per million BTUs. Long term they see the top number remaining viable.
For ConocoPhillips (NYSE:COP), earnings per share was downwardly revised from $6.57 to $5.36, while Exxon was cut from $6.29 to $5.47 for 2011.
Some companies they like, especially because of new exploration projects, are Hess (NYSE:HES), Bunge Limited (NYSE:BG) and Marathon Oil (NYSE:MRO). The idea is this will help them stand out from their competitors.
Another idea from Credit Suisse is the large oil companies need to increase their dividends in order to attract more investors, as it would confirm management is confident about the future cash flows.
For the overall average price of oil, Credit Suisse is looking at $72.50 a barrel next year. For gas, CS sees the price in a range dropping from their prior $6.50 down to $5.25 per million BTUs. Long term they see the top number remaining viable.
For ConocoPhillips (NYSE:COP), earnings per share was downwardly revised from $6.57 to $5.36, while Exxon was cut from $6.29 to $5.47 for 2011.
Some companies they like, especially because of new exploration projects, are Hess (NYSE:HES), Bunge Limited (NYSE:BG) and Marathon Oil (NYSE:MRO). The idea is this will help them stand out from their competitors.
Another idea from Credit Suisse is the large oil companies need to increase their dividends in order to attract more investors, as it would confirm management is confident about the future cash flows.
Monday, July 12, 2010
BP (NYSE:BP): Not Selling Assets, Not Selling Stock, Not Selling Shares
There has been many rumors surrounding whether potential investors would purchase BP (NYSE:BP). It seems to be more of a fairytale hope then anything else according to analysts.
There are several variables that must be looked at. For one, are BP's assets worth the hassle? With the thousands upon thousands of legal claims as well as the public relations issue, for any oil company to take on BP would be an extreme risk.
Paul Malchanov, an analyst for Raymond James in Houston, TX., said, " It's very debatable that any company would be comfortable wading into this legal nightmare, which would last many years. The biggest problem is getting your hands around the liabilities."
While the CEO of Petroleum and Resources Corporation, Doug Ober, said he's even heard traders talk about Conoco Phillips purchasing BP. " The likelihood of BP getting taken over is next to nil. Why would a U.S. company want to buy BP given the black eye that it has," said Ober.
Malchonov said he does not recommend BP for investors. Other companies like Chevron and Hess are trading at cheaper valuations. There is still to much risk and uncertainties with BP.
There are several variables that must be looked at. For one, are BP's assets worth the hassle? With the thousands upon thousands of legal claims as well as the public relations issue, for any oil company to take on BP would be an extreme risk.
Paul Malchanov, an analyst for Raymond James in Houston, TX., said, " It's very debatable that any company would be comfortable wading into this legal nightmare, which would last many years. The biggest problem is getting your hands around the liabilities."
While the CEO of Petroleum and Resources Corporation, Doug Ober, said he's even heard traders talk about Conoco Phillips purchasing BP. " The likelihood of BP getting taken over is next to nil. Why would a U.S. company want to buy BP given the black eye that it has," said Ober.
Malchonov said he does not recommend BP for investors. Other companies like Chevron and Hess are trading at cheaper valuations. There is still to much risk and uncertainties with BP.
Friday, May 28, 2010
Citigroup (NYSE:C) On Gulf Lawsuits, Lobbying
While we hear a lot about BP (NYSE:BP) and Transocean (NYSE:RIG) in the Gulf oil crisis, there are a lot of oil companies who could have exposure to the fallout from the oil spill, which could result in some significant pressure in the months ahead, according to a Citigroup (NYSE:C) analyst.
The analyst said, In the Independent Oil & Gas industry, Anadarko (NYSE:APC), Apache (NYSE:APA), Newfield (NYSE:NFX), Nexen (NYSE: NXY) and Noble Energy (NYSE:NBL) have offshore Gulf of Mexico exposure. Of the US integrated oil industry, Chevron (NYSE:CVX) and Marathon (NYSE:MRO) have the highest level of activity taking place in the deep waters of the GOM. ExxonMobil (NYSE:XOM) and Hess (NYSE:HES) have limited exposure. Occidental Petroleum (NYSE:OXY) has zero exposure and is likely to benefit from the current environment."
Ultimately what some consider an over-response from the Obama administration, this could be devastating to the overall U.S. economy at a time when it continues to struggle to recover from the great recession.
The analyst said, In the Independent Oil & Gas industry, Anadarko (NYSE:APC), Apache (NYSE:APA), Newfield (NYSE:NFX), Nexen (NYSE: NXY) and Noble Energy (NYSE:NBL) have offshore Gulf of Mexico exposure. Of the US integrated oil industry, Chevron (NYSE:CVX) and Marathon (NYSE:MRO) have the highest level of activity taking place in the deep waters of the GOM. ExxonMobil (NYSE:XOM) and Hess (NYSE:HES) have limited exposure. Occidental Petroleum (NYSE:OXY) has zero exposure and is likely to benefit from the current environment."
Ultimately what some consider an over-response from the Obama administration, this could be devastating to the overall U.S. economy at a time when it continues to struggle to recover from the great recession.
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