Dozens of oil and gas exploration and production companies reported first-quarter results last week. It was another rough quarter, but many companies were able to meet much-reduced expectations and many are looking forward to the last half of this year for the beginning of a recovery.

Nomura analyst Lloyd Byrne has issued research notes on five companies. Of the notes, one deals with the disastrous wildfire that has destroyed so many homes and buildings around Ft. McMurray, Alberta, the heart of the province’s oil sands projects.

Suncor Energy

Nomura rates Suncor Energy Inc. (NYSE: SU) stock at Buy, with a price target of $45. Byrne said:

In response to multiple investor inquiries about the tragic fire in Alberta, here is what Nomura knows after speaking with Suncor on Thursday evening. The company has performed an orderly shut-down of its base plant operations due to lack of manpower (no shifts available). Diluent pipelines have been closed due to valve station concerns, however, at this time, SU does not believe any key infrastructure has been damaged.

Suncor shares closed at $25.78 on Thursday, in a 52-week trading range of $18.71 to $30.82. The consensus price target on the stock is $33.40.

Energen

Energen Corp. (NYSE: EGN) has a Buy rating and a price target of $43 from Nomura. Byrne said:

Overall a solid start to the year for Energen, with production beating and positive recent well results in the Midland. Management has shown thoughtful execution by recapitalizing the balance sheet (Feb equity raise), adding oil hedges, and now planning to rebuild DUC inventory in 2H16 in preparation for 2017 (helping to de-risk investors’ production trajectory uncertainty).

The stock closed at $40.14 on Thursday, in a 52-week range of $20.76 to $77.12. The consensus price target is $41.75 a share.

EOG Resources

Nomura rates EOG Resources Inc. (NYSE: EOG) as a Buy, with a price target of $80 a share. The note said:

1Q16 financial results were largely in line with expectations, with the move to “premium locations” continuing to drive improved well performance and capital productivity. US crude oil volumes of 265.8 mbopd topped Nomura expectations of 264.3 mbopd and the company’s own guidance. Capital efficiency is expected to continue its steady progress.

The stock closed at $81.26 on Thursday, in a 52-week range of $57.15 to $96.10. The consensus price target is $79.44.

Cimarex Energy

Cimarex Energy Co. (NYSE: XEC) stock has a Neutral rating and a price target of $89 from Nomura. Byrne said:

XEC reported 1Q16 results which slightly missed analyst expectations for EPS/CPS. Driving the shortfall was realizations, partially offset by production topping high end of guidance.

Shares closed at $113.68 on Thursday, and the consensus price target is $110.45. The 52-week trading range is $72.77 to $124.91.

Newfield Exploration

Newfield Exploration Co.’s (NYSE: NFX) stock is rated a Buy, with a price target of $38 a share, at Nomura. The note said:

[Wednesday], NFX announced the acquisition of an additional 42k net acres in the STACK for $470mn. 90% is [held by production]. This brings NFX’s total STACK position to ~265k net acres. The company expects the transaction to close by the end of the 2Q, with an effective date of April 1, 2016.

Shares closed at $37.57 on Thursday. The 52-week range is $20.84 to $41.34, and the consensus price target is $40.87.

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