Collins Stewart Launches Coverage of the Americas Integrated Oil Companies
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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