Energy Business

Goldman Sachs Makes Major Ratings Changes to Its Oil Outlook for Stocks and Prices

Carrizo Oil & Gas Inc. (NASDAQ: CRZO) was raised to Buy from Neutral with a $37 price target (versus a $25.73 close). It has a consensus price target of $35.08 and a 52-week range of $16.10 to $56.77. Its market cap is $1.7 billion.

Cenovus Energy Inc. (NYSE: CVE) was already rated as Buy but was added to the firm’s Conviction Buy list. Its price target is $16.00, versus the previous $12.47 close. Cenovus has a consensus price target of $14.42 and a 52-week range of $9.10 to $19.72. Its market cap is nearly $11 billion.

FMC Technologies Inc. (NYSE: FTI) was raised to Buy from Neutral with a $30.50 price target (versus a $25.36 close). Here, the consensus price target is $31.00, compared to a 52-week range of $22.30 to $44.43. The market cap is $6 billion.

Oceaneering International Inc. (NYSE: OII) was raised to Buy from Neutral with a $40 price target (versus a $28.61 close. The consensus price target is $31.00, while the 52-week range is $25.33 to $59.65. The market cap is $3 billion.

RSP Permian Inc. (NYSE: RSPP) was raised to Buy from Neutral with a $34 price target (versus a $25.69 close). The 52-week trading range is $16.74 to $31.15. The consensus analyst target is $30.34. The market cap is almost $3 billion.


As we warned, there are the bad and the ugly to this call too. Here are many of the Goldman Sachs analyst downgrades to end the week. Note that some of the price targets are substantially lower.

Atwood Oceanics Inc. (NYSE: ATW) was downgraded to Sell from Neutral with a $5.00 price target, after closing previously at $9.08.

Cheniere Energy Partners L.P. (NYSE: CQP) was downgraded to Neutral from Buy with a $30 price target (versus a $26.97 prior close).

EP Energy Corp. (NYSE: EPE) was downgraded to Sell from Neutral with a $4.50 price target (versus a $5.29 close).

Helmerich & Payne Inc. (NYSE: HP) was downgraded to Neutral from Buy, but the price target was raised to $60.00 from $55.00, after a $61.96 close.

NGL Energy Partners L.P. (NYSE: NGL) was downgraded to Sell from Neutral with a $6 price target (versus an $8.33 close).

Noble Corp. PLC (NYSE: NE) was downgraded to Sell from Neutral with a $5.50 price target (versus an $11.02 close).

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