Barclays on E&P, Integrated Oil And Refiners: Catalyst Watch & Weekly Highlights
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Price: $26.97 --0%
Rating Summary:
19 Buy, 20 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
Rating Summary:
19 Buy, 20 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
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Barclays on E&P, Integrated Oil And Refiners: Catalyst Watch & Weekly Highlights
Barclays analyst said, "Newfield (NYSE: NFX) has been the worst performing stock that we cover month-to-date and is down ~14%, underperforming peers and the EPX by ~7%. We reiterate our Overweight rating on the shares. Our $94 target price implies 47% potential appreciation, the highest in our coverage universe (the average for the group is 21%). We believe the company will likely deliver above-average production growth and rising margins as the shift to liquids continues. A comprehensive update of drilling plans on the newly acquired acreage in the Uinta, potentially better IPs in the Eagleford, and results from the assessment program in the Southern Alberta Basin could provide near-term catalysts."
"We initiated coverage on Kosmos Energy (NYSE: KOS) with Equal Weight rating and $21 price target (5% discount to our NAV). KOS offers investors a strong foundation of existing discoveries (~450 mmboe net) with exposure to total gross un-risked potential of 12+ Bboe. The exploration success rate in Ghana is roughly two-thirds and KOS is in the process of developing five major discoveries. Cash flow is expected to rise from $600mm in 2011 to $2.4B in 2017. Cameroon and Morocco provide the bulk of un-risked resource potential but have yet to be tested and together account for 8% of our NAV."
"Notable potential catalysts: 1) Results from Anadarko Petroleum's (NYSE: APC) exploration wells in Mozambique and Ghana, 2) NFX's update on opportunities and drilling program on newly acquired acreage in Uinta Basin, and 3) SWN's announcement of location and size of position in a potential new unconventional oil play - drilling is expected to start in Sept."
Barclays analyst said, "Newfield (NYSE: NFX) has been the worst performing stock that we cover month-to-date and is down ~14%, underperforming peers and the EPX by ~7%. We reiterate our Overweight rating on the shares. Our $94 target price implies 47% potential appreciation, the highest in our coverage universe (the average for the group is 21%). We believe the company will likely deliver above-average production growth and rising margins as the shift to liquids continues. A comprehensive update of drilling plans on the newly acquired acreage in the Uinta, potentially better IPs in the Eagleford, and results from the assessment program in the Southern Alberta Basin could provide near-term catalysts."
"We initiated coverage on Kosmos Energy (NYSE: KOS) with Equal Weight rating and $21 price target (5% discount to our NAV). KOS offers investors a strong foundation of existing discoveries (~450 mmboe net) with exposure to total gross un-risked potential of 12+ Bboe. The exploration success rate in Ghana is roughly two-thirds and KOS is in the process of developing five major discoveries. Cash flow is expected to rise from $600mm in 2011 to $2.4B in 2017. Cameroon and Morocco provide the bulk of un-risked resource potential but have yet to be tested and together account for 8% of our NAV."
"Notable potential catalysts: 1) Results from Anadarko Petroleum's (NYSE: APC) exploration wells in Mozambique and Ghana, 2) NFX's update on opportunities and drilling program on newly acquired acreage in Uinta Basin, and 3) SWN's announcement of location and size of position in a potential new unconventional oil play - drilling is expected to start in Sept."
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