Whiting was raised to Positive from Neutral with a price target of $33.00 at Susquehanna. Oppenheimer maintained its Outperform rating but cut its price target down to $41 from $47 in its call. Raymond James lowered its price target to $42 (from $44) and Global Hunter lowered its target to $36 from $45 in its call. These may sound cautious if you just view them directionally, but this could be 50% to 100% upside if these analyst calls prove to have merit. At a $22.93 close on Friday, Whiting has a 52-week range of $22.67 (hit on Friday!) to $92.92.
24/7 Wall St. wanted to include several other analyst calls that were made in the oil patch as well. We highlighted 5 opportunities which were brewing in the MLP sector as well. Some calls were positive, and a couple not so much.
HollyFrontier Corp. (NYSE: HFC) was started as Outperform with a $52 price target (versus $46.73 close) at Macquarie.
Tesoro Corporation (NYSE: TSO) was started as Outperform with a $119 price target (versus $98.44 close) at Macquarie.
Genesis Energy, L.P. (NYSE: GEL) was raised to outperform from Market Perform at Wells Fargo.
SandRidge Energy (NYSE: SD) was started as Underperform with a price target of $0.30 (down from $0.80) this week at Credit Suisse.
Southwest Gas Corp. (NYSE: SWX) was raised to Buy from Hold with a $63 price target at Argus, with the firm seeing a favorable entry point.
Halliburton Company (NYSE: HAL) managed to beat earnings expectations despite many challenges. Speaking of challenges, late week reports indicate that the Baker Hughes Inc. (NYSE: BHI) acquisition may be challenged as well.
Credit Suisse continues to believe the “Call on American Shale” will rise from 2017 onwards and those companies with the best positioned balance sheet and low-cost shale inventory should rally from current levels over time. They also noted that certain E&P equities have limited downside at $60 oil and decent upside at $70. The firm admitted that its call may be early but the firm raised the sub-sector weighting for E&P to Overweight. Below are just some of the condensed Outperform ratings mentioned in the Credit Suisse call with price target data included:
- Anadarko Petroleum Corp. (APC) OUTPERFORM & $94 TARGET
- Antero Resources Corporation (AR) OUTPERFORM & $42 TARGET
- Bonanza Creek Energy Inc. (BCEI) OUTPERFORM & $18 TARGET
- CONCHO RESOURCES, INC. (CXO) OUTPERFORM & $147 TARGET
- Carrizo Oil & Gas Inc. (CRZO) OUTPERFORM & $54 TARGET
- Devon Energy Corp (DVN) OUTPERFORM & $80 TARGET
- Diamondback Energy, Inc. (FANG) OUTPERFORM & $99 TARGET
- EOG Resources (EOG) OUTPERFORM & $103 TARGET
- EP Energy Corp. (EPE) OUTPERFORM & $17 TARGET
- Gulfport Energy (GPOR) OUTPERFORM & $56 TARGET
- Hess Corporation (HES) OUTPERFORM & $90 TARGET
- Marathon Oil Corp (MRO) OUTPERFORM & $34 TARGET
- Noble Energy (NBL) OUTPERFORM & $55 TARGET
- PDC Energy (PDCE) OUTPERFORM & $80 TARGET
- Parsley Energy (PE) OUTPERFORM $ $21 TARGET
- Penn Virginia Corp (PVA) OUTPERFORM & $4 TARGET
- Pioneer Natural Resources (PXD) OUTPERFORM & $186 TARGET
- Range Resources (RRC) OUTPERFORM & $71 TARGET
- Sanchez Energy Corp. (SN) OUTPERFORM & $11 TARGET
Also, Cowen & Co. issued a very positive review of natural gas for a multi-year outlook. It listed four favorite companies for this gas outlook as being EQT, Rice Energy, Range Resources, and Southwestern Energy.
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