Global Hunter Securities Starts Heckmann Corporation (HEK) at Accumulate; Divestiture Creates Pure Play
HEK Hot Sheet
Rating Summary:4 Buy, 0 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Global Hunter Securities initiates coverage on Heckmann Corporation (NYSE: HEK) with a Accumulate. PT $7.50.
Global analyst says, "Heckmann’s recent divestiture of the China Water and Drinks business creates a pure play in the fluid handling/water services industry serving the E&P sector. The company has a growing presence in the Haynesville, Eagle Ford, Barnett and Marcellus Shale in which it provides a full suite of water-related services, ranging from fresh water delivery either via its truck fleet or pipeline and through treatment and disposal of produced water in its salt water disposal wells. Unconventional shale development in the US is an emerging sector with significant potential economic and strategic value in meeting future energy needs."
"While several public oil services companies such as Basic Energy (NYSE: BAS), Complete Production (NYSE: CPX) and Key Energy (NYSE: KEG) all have a material contribution from fluid handling, HEK remains the only pure play in an industry that is otherwise highly fragmented, especially as it relates to coverage in the unconventional space. The chairman/CEO of the company, Richard Heckmann, is a proven entrepreneur who has built and sold two large companies in the past with US Filter and K2."
For more ratings news on Heckmann Corporation click here and for the rating history of Heckmann Corporation click here.
Shares of Heckmann Corporation closed at $5.83 yesterday, with a 52 week range of $3.78-$6.72.
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Global analyst says, "Heckmann’s recent divestiture of the China Water and Drinks business creates a pure play in the fluid handling/water services industry serving the E&P sector. The company has a growing presence in the Haynesville, Eagle Ford, Barnett and Marcellus Shale in which it provides a full suite of water-related services, ranging from fresh water delivery either via its truck fleet or pipeline and through treatment and disposal of produced water in its salt water disposal wells. Unconventional shale development in the US is an emerging sector with significant potential economic and strategic value in meeting future energy needs."
"While several public oil services companies such as Basic Energy (NYSE: BAS), Complete Production (NYSE: CPX) and Key Energy (NYSE: KEG) all have a material contribution from fluid handling, HEK remains the only pure play in an industry that is otherwise highly fragmented, especially as it relates to coverage in the unconventional space. The chairman/CEO of the company, Richard Heckmann, is a proven entrepreneur who has built and sold two large companies in the past with US Filter and K2."
For more ratings news on Heckmann Corporation click here and for the rating history of Heckmann Corporation click here.
Shares of Heckmann Corporation closed at $5.83 yesterday, with a 52 week range of $3.78-$6.72.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
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