Citi Upgrades Oil & Gas Companies EOG, KWK and SWN
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Citi upgrades EOG Resources (NYSE: EOG), Quicksilver Resources (NYSE: KWK) and Southwest Energy (NYSE: SWN) from Hold to Buy.
Citi analyst says, "We think investors should position themselves for a short winter trade opportunity. We have upgraded three names with heavy natural gas exposure to Buy from Hold: EOG, KWK, and SWN...With rig count dropping and colder weather approaching, natural gas prices are likely to see a near-term rebound carrying the natural gas heavy companies along...However, we caution that the duration of this trade will heavily rest on the severity of winter weather."
EOG Resources, Inc. (EOG), together with its subsidiaries, explores for, develops, produces and markets natural gas and crude oil primarily in major producing basins in the United States, Canada, offshore Trinidad, the United Kingdom North Sea and other international areas.
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