Collins Stewart Launches Coverage of the Americas Integrated Oil Companies

May 28, 2009 7:20 AM EDT

Collins Stewart launch coverage of the Americas integrated oils with a neutral sector outlook.

Collins initiates coverage on Hess Corporation (NYSE: HES) & Marathon Oil (NYSE: MRO) with a Buy.

Collins analyst says, "On MRO, we believe that at current share prices, it is offering investors the best value within the sector, as its current share price is >25% below our DCF-based core valuation...On HES, we expect exploration and appraisal results to serve as key stock catalysts through the end of the year."

Collins initiates coverage on Chevron Corp. (NYSE: CVX), ConocoPhillips (NYSE: COP), Exxon Mobil (NYSE: XOM), Occidental (NYSE: OXY) & Petroleo (NYSE: PBR) with a Hold.

Collins initiates coverage on Murphy Oil (NYSE: MUR) with a Sell.

"We initiate on MUR with a Sell recommendation, stemming primarily from our concern as to the underlying value and long-term sustainability of the upstream portfolio."


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Stocks Mentioned

COP 52.11

+0.00 +0.00%
Volume: 8,447,891
Track COP

CVX 77.53

+0.00 +0.00%
Volume: 7,746,953
Track CVX

HES 56.98

+0.00 +0.00%
Volume: 3,227,272
Track HES

MRO 33.68

+0.00 +0.00%
Volume: 6,428,036
Track MRO

MUR 60.40

+0.00 +0.00%
Volume: 2,206,544
Track MUR

OXY 80.88

+0.00 +0.00%
Volume: 3,460,406
Track OXY

PBR 49.01

+0.00 +0.00%
Volume: 10,885,867
Track PBR

XOM 72.58

+0.00 +0.00%
Volume: 18,185,069
Track XOM


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