| Credit Suisse's E&P Earnings Recap And Top 3 Stock Picks | |
| | |
|
Credit Suisse recently gave a recap of 4Q14 earnings season for the exploration and production (E&P) sector. Analysts updated their ratings and price targets for 12 names in the space.
Investors Interested
The stock market is near all-time highs, and the lagging energy sector is one place that investors are looking for potential upside.
According to a Credit Suisse survey, E&P and refiner stocks are drawing particular interest from investors.
Oil Recovery Already Priced In
Analysts concede that crude oil may be near its bottom for this cycle. However, they believe that a sharp recovery in oil prices is already priced into many E&P stocks.
Analysts address this sharp recovery in oil prices, which they "fear may take longer to materialize given the sharp drop in capital costs."
Service providers have already lowered costs significantly, but analysts believe that total cost reductions could reach 30 percent if the $50/bbl price environment persists.
Related Link: Morgan Stanley: Global Refinery Turnaround Is Good For These Oil Stocks
Top Picks
Given the uncertainty surrounding oil prices, analysts recommend investors take a defensive approach to the sector.
Low leverage and low cost assets make PDC Energy Inc (NASDAQ: PDCE), Diamondback Energy Inc (NASDAQ: FANG) and Gulfport Energy Corp (NASDAQ: GPOR) Credit Suisse's top stock picks in the space.
Credit Suisse also updated ratings and price targets for the following 12 stocks:
-
Antero Resources Corp (NYSE: AR)-Outperform; $53 target
-
Bonanza Creek Energy Inc (NYSE: BCEI)-Outperform; $35 target
-
Carrizo Oil & Gas Inc (NASDAQ: CRZO)- Neutral; $50 target
-
Gulfport Energy Corp- Outperform; $64 target
-
Magnum Hunter Resources Corp (NYSE: MHR)-Outperform; $3 target
-
Penn Virginia Corp (NYSE: PVA)-Outperform; $7 target
-
Range Resources Corp (NYSE: RRC)-Outperform; $87 target
-
Rosetta Resources Inc (NASDAQ: ROSE)-Outperform; $24 target
-
Rex Energy Corp (NASDAQ: REXX)-Neutral; $4 target
-
Sanchez Energy Corp (NYSE: SN)-Outperform; $17 target
-
Swift Energy Co (NYSE: SFY)- Underperform; $1 target
-
Whiting Petroleum Corp (NYSE: WLL)-Neutral; $41 target
Latest Ratings for PDCE
Date | Firm | Action | From | To |
---|
Mar 2015 | Deutsche Bank | Maintains | | Hold | Mar 2015 | Cowen & Company | Initiates Coverage on | | Outperform | Mar 2015 | Macquarie | Initiates Coverage on | | Outperform |
View More Analyst Ratings for PDCE
View the Latest Analyst Ratings
See more from Benzinga © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
|
|
|
Carrizo Oil & Gas Inc.
|
|
|
CODE : CRZO |
ISIN : US1445771033 |
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Carrizo Oil & Gas est une société développant des projet miniers de pétrole basée aux Etats-Unis D'Amerique. Carrizo Oil & Gas est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 637,9 millions US$ (575,9 millions €). La valeur de son action a atteint son plus bas niveau récent le 31 décembre 1999 à 1,00 US$, et son plus haut niveau récent le 12 juillet 2019 à 10,00 US$. Carrizo Oil & Gas possède 81 469 593 actions en circulation. |