13 Oil and Gas Stocks Analysts Want You to Buy Now
Diamondback Energy Inc. (NASDAQ: FANG) saw what may have been more than 10 price targets raised by analysts after its guidance. Shares popped big on Monday as Diamondback increased its production guidance. Its shares ended trading at $100.90 on Friday, in a 52-week range of $55.48 to $106.84. The consensus price target is $113.41. Canaccord Genuity raised its price target to $116 from $103 and sees Diamondback as one of the top performers in the Permian Basin, with solid capital efficiency and a solid balance sheet. Wunderlich raised its price target to $130 from $110. Other price target hikes were seen by UBS, KLR, Raymond James, Nomura and many more.
Other oil and gas sector calls were seen as follows during the week ending October 15:
Abraxas Petroleum Corp. (NASDAQ: AXAS) was raised to Accumulate from Neutral with a $2.50 price target at Seaport Global on October 10. The prior closing price was $1.69, but the shares initially jumped 6% higher to $1.79 on the news. Its 52-week range is $0.65 to $1.93.
Evolution Petroleum Corp. NYSEMKT: EPM) was started as Outperform with a $10 price target at Scotia Capital Markets on October 10. It had previously closed at $7.40 but was up at $7.90 shortly after the call. Its 52-week range is $3.60 to $8.45.
National Fuel Gas Co. (NYSE: NFG) was raised to Buy from Hold at Jefferies on October 13, and the firm also added it to the Jefferies Franchise Picks List with a $67 price target. Shares closed trading at $54.03 on Friday.
Noble Energy Inc. (NYSE: NBL) was started with a Buy rating and assigned a $44 price target at Mizuho on October 14. The prior closing price was $35.45, but shares ended the week at $35.18. The consensus price target is $43.63, and the 52-week range is $23.77 to $39.85.
Noble Midstream Partners L.P. (NYSE: NBLX) received mostly positive analyst coverage upon the expiration of its quiet period. Only Deutsche Bank did not issue upside when the rest of the pack covered it on October 10. The seven analysts that started coverage would have an implied price target of close to $34.
PetroQuest Energy Inc. (NYSE: PQ) was raised to Overweight from Equal Weight with a $5 price target at Capital One on October 10. The prior closing price was $3.66.
Plains All American Pipeline L.P. (NYSE: PAA) was raised to Buy from Hold at Deutsche Bank on October 10, and the price target was raised to $37 from $31. The stock was at $31.13 ahead of the call, and its shares ended trading at $32.18 on Friday. Its 52-week range is $14.82 to $33.00, and the consensus analyst target is $31.45.