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BP

BP

$34.23

-0.17 (-0.49%)

, E

Eni SpA

$26.93

0.21 (0.79%)

12:00
11/25/16
11/25
12:00
11/25/16
12:00

BP buys 10% interest in Egypt's Zohr gas field for $375M

BP (BP) announced that it has agreed to buy from Eni (E) a 10% interest in the Shorouk concession offshore Egypt, which contains the super-giant Zohr gas field, for $375M. On closing, BP will also reimburse Eni for BP's share of past expenditure. As part of the agreement, BP also has an option before the end of 2017 to buy a further 5% interest in the concession under the same terms. Bob Dudley, BP group CEO, said: "This interest in a truly world-scale asset will complement our existing Egyptian business. We already have a strong partnership with Eni in Egypt and look forward to working closely with them to efficiently bring these important resources to the Egyptian market. BP has now been in Egypt for over 50 years and we continue to see opportunities to further develop our extensive activities here. Beyond Zohr, the first phase of our major West Nile Delta project is on schedule to begin production next year and the fast-tracked development of the Atoll gas field is expected to come on stream in 2018."

BP

BP

$34.23

-0.17 (-0.49%)

E

Eni SpA

$26.93

0.21 (0.79%)

  • 02

    Dec

BP BP
$34.23

-0.17 (-0.49%)

11/02/16
11/02/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pfizer (PFE) downgraded to Hold from Buy at Argus and to Market Perform from Outperform at BMO Capital. 2. BP (BP) downgraded to Hold from Buy at Societe Generale. 3. Corning (GLW) downgraded to Buy from Conviction Buy at Goldman with analyst Doug Clark saying the restocking phase of glass/TV cyclical recovery is now "well understood and largely behind us." 4. Adeptus Health (ADPT) downgraded to Underperform from Buy at BofA/Merrill, to Hold from Buy at Jefferies, and to Equal Weight from Overweight at Stephens. 5. Brookdale Senior Living (BKD) downgraded to Underperform from Neutral at BofA/Merrill, to Market Perform from Outperform at Wells Fargo, and to Outperform from Top Pick at RBC Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/15/16
LYON
11/15/16
DOWNGRADE
Target $37
LYON
Outperform
BP downgraded to Outperform from Buy at CLSA
11/15/16
11/15/16
DOWNGRADE
Target $37

Outperform
BP downgraded to Outperform at CLSA
As previously reported, CLSA downgraded BP to Outperform and lowered its price target to $37 from $40. Analyst Asit Sen said BP has done a remarkable job positioning for long-term growth but awaits on visibility into its lower 48 strategy where bolt-on acquisitions make more sense.
11/15/16
11/15/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FedEx (FDX) downgraded to Hold from Buy at Stifel with analyst David Ross citing valuation, as well as concerns about the "still-fragile global economic environment" and the integration of its TNT acquisition. 2. Abercrombie & Fitch (ANF) downgraded to Underperform at FBR Capital while the firm also downgraded American Eagle (AEO) to Market Perform from Outperform. 3. Amplify Snack Brands (BETR) downgraded to Perform from Outperform at Oppenheimer and to Neutral from Outperform at Credit Suisse. 4. BP (BP) downgraded to Outperform from Buy at CLSA while the firm also downgraded ConocoPhillips (COP) to Underperform from Outperform. 5. Cheesecake Factory (CAKE) downgraded to Hold from Buy at Maxim with analyst Stephen Anderson saying he sees the company's above-peer comps, market share gains, and solid new unit development prospects as being priced in after the 22% jump in the stock from its late October low. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
E Eni SpA
$26.93

0.21 (0.79%)

09/08/16
BERN
09/08/16
DOWNGRADE
BERN
Market Perform
Total downgraded to Market Perform from Outperform at Bernstein
Bernstein analyst Oswald Clint, downgraded Total (TOT) based on his new analysis which shows that its upstream ROIC ranks fifth among the European integrated oil names he covers. The analyst says that Shell (RDS.A), BP (BP), and Eni (E) rank first, second, and third, respectively.He set a $56.61 price target on Total.
09/08/16
BERN
09/08/16
DOWNGRADE
BERN
Underperform
Repsol downgraded to Underperform from Market Perform at Bernstein
Bernstein analyst Oswald Clint downgraded Repsol (REPYY) based on his new analysis which shows that its upstream ROIC ranks sixth among the European integrated oil names he covers. The analyst says that Shell (RDS.A), BP (BP), and Eni (E) rank first, second, and third, respectively. He set an EUR11.30 price target on Repsol, down from EUR13 previously.
10/05/16
DBAB
10/05/16
UPGRADE
DBAB
Buy
Eni SpA upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Lucas Herrmann upgraded Eni SpA to Buy saying the valuation is attractive following the year-to-date underperformance. The analyst raised his price target for the shares to EUR 15.25 from EUR 15.
11/02/16
JPMS
11/02/16
DOWNGRADE
JPMS
Underweight
Eni SpA downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Christyan Malek downgraded Eni SpA to Underweight.

TODAY'S FREE FLY STORIES

GD

General Dynamics

$195.94

2.7 (1.40%)

15:41
04/26/17
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15:41
Hot Stocks
General Dynamics unit awarded $96M contract modification by U.S. Navy »

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    Apr

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15:40
04/26/17
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General news
Treasury Closing Summary: »

Treasury Closing Summary:…

NEO

NeoGenomics

$8.51

0.09 (1.07%)

15:39
04/26/17
04/26
15:39
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15:39
Recommendations
NeoGenomics analyst commentary  »

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CDE

Coeur Mining

$9.41

0.33 (3.63%)

15:35
04/26/17
04/26
15:35
04/26/17
15:35
Options
Coeur Mining options imply 9.3% move in share price post-earnings, above median historical move »

Pre-earnings options…

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  • 27

    Apr

CBU

Community Bank System

$57.90

0.3 (0.52%)

, MBVT

Merchant Bancshares

$50.80

1.15 (2.32%)

15:34
04/26/17
04/26
15:34
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15:34
Hot Stocks
Community Bank System, Merchant Bancshares approved for merger »

Community Bank System…

CBU

Community Bank System

$57.90

0.3 (0.52%)

MBVT

Merchant Bancshares

$50.80

1.15 (2.32%)

03/08/13
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  • 17

    May

NSC

Norfolk Southern

$117.89

1.11 (0.95%)

15:31
04/26/17
04/26
15:31
04/26/17
15:31
Options
$17.3M option play will triple open interest in Norfolk Southern options »

$17.3M option play will…

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NFLX

Netflix

$152.16

8.33 (5.79%)

, FB

Facebook

$146.49

1.02 (0.70%)

15:31
04/26/17
04/26
15:31
04/26/17
15:31
Hot Stocks
FCC chairman outlines net neutrality rollback »

The FCC has published…

NFLX

Netflix

$152.16

8.33 (5.79%)

FB

Facebook

$146.49

1.02 (0.70%)

AMZN

Amazon.com

$907.62

0.21 (0.02%)

GOOG

Alphabet

$872.30

9.54 (1.11%)

GOOGL

Alphabet Class A

$888.84

9.91 (1.13%)

CMCSA

Comcast

$38.49

0.48 (1.26%)

CMCSK

Comcast

VZ

Verizon

$47.42

0.72 (1.54%)

T

AT&T

$40.40

0.46 (1.15%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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    May

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  • 05

    Jun

SGM

Stonegate Mortgage

$7.96

-0.0059 (-0.07%)

15:29
04/26/17
04/26
15:29
04/26/17
15:29
Conference/Events
Stonegate Mortgage to host special shareholder meeting »

Special Shareholder…

03/08/13
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  • 27

    Apr

NOW

ServiceNow

$90.00

-0.24 (-0.27%)

15:20
04/26/17
04/26
15:20
04/26/17
15:20
Options
ServiceNow options imply 10.6% move in share price post-earnings, above median historical move »

Pre-earnings options…

03/08/13
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03/06/13
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03/06/13
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  • 26

    Apr

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    Jun

MS

Morgan Stanley

$44.50

0.225 (0.51%)

15:18
04/26/17
04/26
15:18
04/26/17
15:18
Conference/Events
Morgan Stanley management to meet with Evercore ISI »

Meeting to be held in New…

03/08/13
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  • 26

    Apr

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    May

TRU

TransUnion

$39.72

0.92 (2.37%)

15:17
04/26/17
04/26
15:17
04/26/17
15:17
Conference/Events
TransUnion management to meet with Evercore ISI »

Meeting to be held in…

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  • 26

    Apr

  • 03

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  • 09

    May

$NSD

NASDAQ Market Internals

15:17
04/26/17
04/26
15:17
04/26/17
15:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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HRB

H&R Block

$24.07

-0.175 (-0.72%)

, INTU

Intuit

$119.08

0.32 (0.27%)

15:17
04/26/17
04/26
15:17
04/26/17
15:17
Hot Stocks
Trump Effect: Tax preparers fall as administration promises simpler code »

Shares of publicly-traded…

HRB

H&R Block

$24.07

-0.175 (-0.72%)

INTU

Intuit

$119.08

0.32 (0.27%)

03/08/13
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ZION

Zions Bancorp

$40.49

-1.47 (-3.50%)

15:16
04/26/17
04/26
15:16
04/26/17
15:16
Conference/Events
Zions Bancorp management to meet with Evercore ISI »

Meetings to be held in…

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  • 26

    Apr

$NYE

NYSE Market Internals

15:16
04/26/17
04/26
15:16
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15:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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T

AT&T

$40.34

0.4 (1.00%)

15:14
04/26/17
04/26
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15:14
Hot Stocks
AT&T, IBEW reach tentative agreement in Midwest wireline contract negotiations »

AT&T announced that a…

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  • 09

    May

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    May

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    May

ALNY

Alnylam

$51.35

1.05 (2.09%)

, IONS

Ionis Pharmaceuticals

$47.88

2.14 (4.68%)

15:12
04/26/17
04/26
15:12
04/26/17
15:12
Recommendations
Alnylam, Ionis Pharmaceuticals analyst commentary  »

Alnylam data for…

ALNY

Alnylam

$51.35

1.05 (2.09%)

IONS

Ionis Pharmaceuticals

$47.88

2.14 (4.68%)

03/08/13
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  • 26

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VIX

Volatility Index S&P 500 Options

$10.47

-0.29 (-2.70%)

15:11
04/26/17
04/26
15:11
04/26/17
15:11
Options
Quiet day in the VIX pit as markets see muted reaction to Trump's tax plan »

Quiet day in the VIX pit…

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STX

Seagate

$50.51

1.09 (2.21%)

15:10
04/26/17
04/26
15:10
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15:10
Recommendations
Seagate analyst commentary  »

Needham would be…

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  • 26

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    Jun

FFIV

F5 Networks

$138.19

0.26 (0.19%)

15:05
04/26/17
04/26
15:05
04/26/17
15:05
Options
F5 Networks options imply 9.1% move in share price post-earnings, above median historical move »

Pre-earnings options…

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  • 26

    Apr

USB

U.S. Bancorp

$52.47

0.34 (0.65%)

15:01
04/26/17
04/26
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15:01
Hot Stocks
U.S. Bank names Kate Quinn chief administrative officer »

U.S. Bank announced that…

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T

AT&T

$40.26

0.32 (0.80%)

15:00
04/26/17
04/26
15:00
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15:00
Hot Stocks
AT&T CEO 'applauds' FCC initiative to remove 'regulatory cloud' over internet »

AT&T Chairman &…

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AMZN

Amazon.com

$907.62

0.21 (0.02%)

14:55
04/26/17
04/26
14:55
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14:55
Hot Stocks
Amazon debuts 'Echo Look' camera, style assistant »

Amazon debuted its…

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MENB

Mendocino Brewing Company, Inc.

14:52
04/26/17
04/26
14:52
04/26/17
14:52
Hot Stocks
Mendocino Brewing Company gets amendment to current credit facility »

Effective April 25,…

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MLNX

Mellanox

$50.95

-0.55 (-1.07%)

14:50
04/26/17
04/26
14:50
04/26/17
14:50
Options
Mellanox options imply 9.3% move in share price post-earnings, above median historical move »

Pre-earnings options…

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