Barclays on North America Oil & Gas: E&P (Large Cap): 2Q Preview and Potential Catalysts
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Rating Summary:
42 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Barclays on North America Oil & Gas: E&P (Large Cap): 2Q Preview and Potential Catalysts
Barclays analyst, Thomas R. Driscoll, said, "Despite concerns on cost inflation/capital raises/production guidance we are modestly constructive on the group. Our top picks are Devon (NYSE: DVN), EOG Resources (NYSE: EOG), Newfield (NYSE: NFX), Pioneer Natural (NYSE: PXD) and Talisman (NYSE: TLM). Efficiencies are continuing to yield rising productivity per rig contributing to our continued caution on forward natural gas prices."
"Companies most likely to beat guidance: 1) Noble Energy (NYSE: NBL) due to longer than anticipated disruption of Egyptian gas exports to Israel and 2) Southwestern Energy (NYSE: SWN) due to continued strong well performance in Fayetteville and Marcellus."
"Companies most likely to be below mid-point of guidance: 1) DVN due to downtime at the Cana gas processing plant which was damaged by a tornado in late May (DVN estimates 2 mmboe loss for the year related to the tornado) and 2) PXD due to water sourcing issues in the Spraberry."
"Investors are cautious that Bakken operators EOG and NFX could miss oil
poduction targets but we expect both companies to hit their numbers..."
Barclays analyst, Thomas R. Driscoll, said, "Despite concerns on cost inflation/capital raises/production guidance we are modestly constructive on the group. Our top picks are Devon (NYSE: DVN), EOG Resources (NYSE: EOG), Newfield (NYSE: NFX), Pioneer Natural (NYSE: PXD) and Talisman (NYSE: TLM). Efficiencies are continuing to yield rising productivity per rig contributing to our continued caution on forward natural gas prices."
"Companies most likely to beat guidance: 1) Noble Energy (NYSE: NBL) due to longer than anticipated disruption of Egyptian gas exports to Israel and 2) Southwestern Energy (NYSE: SWN) due to continued strong well performance in Fayetteville and Marcellus."
"Companies most likely to be below mid-point of guidance: 1) DVN due to downtime at the Cana gas processing plant which was damaged by a tornado in late May (DVN estimates 2 mmboe loss for the year related to the tornado) and 2) PXD due to water sourcing issues in the Spraberry."
"Investors are cautious that Bakken operators EOG and NFX could miss oil
poduction targets but we expect both companies to hit their numbers..."
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