Barclays on U.S. Integrated Oil Stocks: Revising EPS Estimates on Updated Macroeconomic Assumptions

Barclays on U.S. Integrated Oil Stocks: Revising EPS on Updated Macroeconomic Assumptions

Analyst, Paul Y. Cheng, said, "We have adjusted our commodity price deck and margin assumptions for 2012 reflecting the 1Q12 quarter-to-date market conditions. Thus far, we have seen stronger than expected crude prices while gas prices have been weaker than expected."

Cheng boosts 2012 WTI price assumption from $94.25 to $98.25 and raises Brent price assumption from $103.75 to $108.75.

On individual companies, Barclays raises estimates on:

Chevron (NYSE: CVX)(OW, PT $133): FY12 from $11.75 to $12.35 and FY13 from $11.40 to $11.65.

ConocoPhilips (NYSE: COP)(EW, PT $85): FY12 EPS from $7.70 to $7.90.

Hess Corp (NYSE: HES)(OW, PT $90): FY12 EPS from $5.90 to $6.60 and FY13 from $5.95 to $6.35.

Murphy Oil (NYSE: MUR)(OW, PT $77): FY12 EPS from $5.90 to $6.15.

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