Barclays on E&P, Integrated Oil And Refiners: Catalyst Watch & Weekly Highlights
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Price: $152.56 +0.24%
Rating Summary:
29 Buy, 25 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
29 Buy, 25 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays on E&P, Integrated Oil And Refiners: Catalyst Watch & Weekly Highlights
Barclays analyst, Thomas R. Driscoll, said, "Noble Energy at true inflection point. We spent a week in Europe with Chuck Davidson, Chairman and CEO, and David Larson, VP Investor Relations. Near-term start-ups in the deep GOM and West Africa plus new Marcellus volumes and rising Niobrara shale production could add 15% to production and 25% to revenues by Q1 as compared to Q2-11 results. Longer term, we expect double-digit growth rates. November 15 analyst day could provide a catalyst."
"Notable potential catalysts: 1) Results from NBL's Deep Blue exploration well
(deepwater GOM) and APC's Montserrado well offshore Liberia, 2) Results from NFX's appraisal program at the Southern Alberta Basin."
"The group trades at 5.6x our 2012 debt-adjusted cash flow estimates on a price deck of $95/$4.50 (excluding COS, MEG, RRC, SWN, and UPL), a 7% discount to the historical valuation of 6.0x forward-year cash flow. Our top picks are EOG Resources (NYSE: EOG), Devon Energy (NYSE: DVN) and Newfield Exploration (NYSE: NFX). Our favorites include Noble Energy (NYSE: NBL) and QEP Resources (NYSE: QEP)."
Barclays analyst, Thomas R. Driscoll, said, "Noble Energy at true inflection point. We spent a week in Europe with Chuck Davidson, Chairman and CEO, and David Larson, VP Investor Relations. Near-term start-ups in the deep GOM and West Africa plus new Marcellus volumes and rising Niobrara shale production could add 15% to production and 25% to revenues by Q1 as compared to Q2-11 results. Longer term, we expect double-digit growth rates. November 15 analyst day could provide a catalyst."
"Notable potential catalysts: 1) Results from NBL's Deep Blue exploration well
(deepwater GOM) and APC's Montserrado well offshore Liberia, 2) Results from NFX's appraisal program at the Southern Alberta Basin."
"The group trades at 5.6x our 2012 debt-adjusted cash flow estimates on a price deck of $95/$4.50 (excluding COS, MEG, RRC, SWN, and UPL), a 7% discount to the historical valuation of 6.0x forward-year cash flow. Our top picks are EOG Resources (NYSE: EOG), Devon Energy (NYSE: DVN) and Newfield Exploration (NYSE: NFX). Our favorites include Noble Energy (NYSE: NBL) and QEP Resources (NYSE: QEP)."
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