Oppenheimer Upgrades Oil and Gas Stocks; Sees Industry Consolidation
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Oppenheimer upgraded a number of oil and gas companies this morning, saying they expect industry consolidation in the next 12 months
Upgraded to Outperform:
Anadarko Petroleum Corp. (NYSE: APC)
Apache Corp. (NYSE: APA)
BP plc (NYSE: BP)
Cabot Oil & Gas Corp. (NYSE: COG)
Chevron Corp. (NYSE: CVX)
Comstock Resources Inc. (NYSE: CRK)
ConocoPhillips (NYSE: COP)
Devon Energy Corporation (NYSE: DVN)
EOG Resources, Inc. (NYSE: EOG)
Exxon Mobil Corp. (NYSE: XOM)
Frontier Oil Corp. (NYSE: FTO)
Hess Corporation (NYSE: HES)
Murphy Oil Corp. (NYSE: MUR)
Noble Energy, Inc. (NYSE: NBL)
Pioneer Natural Resources Co. (NYSE: PXD)
Royal Dutch Shell (NYSE: RDS.a)
Sunoco Inc. (NYSE: SUN)
Tesoro Corporation (NYSE: TSO)
Valero Energy Corp. (NYSE: VLO)
XTO Energy Inc. (NYSE: XTO)
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