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APC

Anadarko

$70.02

0.87 (1.26%)

, EOG

EOG Resources

$105.38

2.86 (2.79%)

10:50
12/01/16
12/01
10:50
12/01/16
10:50

Anadarko, other U.S oil producers upgraded after OPEC cut

Research firm Stifel upgraded Anadarko Petroelum (APC) and several other oil producers, citing the decision announced by OPEC yesterday to cut oil production. OIL OUTLOOK: In response to OPEC's plan to cut production beginning in January, Stifel analyst Michael Scialla raised his fourth quarter and 2017 NYMEX oil price forecast by 7% and 10%, respectively. UPGRADES: Scialla raised his ratings on Anadarko, EOG Resources (EOG), SM Energy (SM) and Whiting Petroleum (WLL) to Buy from Hold. Anadarko's returns should be one of the best in its peer group as the company increases its production in the Denver-Julesburg and Permain Basin and sells non-core properties, according to Scialla. The analyst raised his price target on the shares to $86 from $83. Similarly, EOG should benefit as it increases production from its "premium inventory," Scialla believes. Moreover, the company is not hedging oil prices for 2017 and liquids should account for almost 70% of its production next year, versus the peer average of 52%, the analyst stated. He hiked his price target on EOG shares to $120 from $95. In the wake of its expansion in the Midland Basin, SM Energy's returns should be "well above" its peer average, Scialla believes. Noting that the company plans to utilize three more rigs in the Permian Basin, he raised his price target on the stock to $51 from $35. Oil makes up a higher percentage of Whiting's production than most of its peers, and the company added 48 wells in the Williston Basin over the past year, the analyst stated. He raised his price target on that stock to $15 from $8. PRICE ACTION: In morning trading, Anadarko rose fractionally to $69.33, EOG gained 2% to $104.50, SM Energy advanced 4% to $41.37, and Whiting climbed 3% to $12.60.

APC

Anadarko

$70.02

0.87 (1.26%)

EOG

EOG Resources

$105.38

2.86 (2.79%)

SM

SM Energy

$41.82

1.955 (4.90%)

WLL

Whiting Petroleum

$12.79

0.565 (4.62%)

  • 07

    Dec

  • 13

    Dec

APC Anadarko
$70.02

0.87 (1.26%)

12/01/16
STFL
12/01/16
UPGRADE
STFL
Buy
Anadarko upgraded to Buy from Hold at Stifel
Stifel analyst Michael Scialla upgraded Anadarko to Buy with an $86 price target. The OPEC agreement to cut production resulted in Stifel raising its 2017 oil price forecast to $55/bbl from $50bbl. Scialla had been concerned about Anadarko's lack of hedges and downside oil price risk prior to the announcement but now sees reduced risk and strong long-term growth.
11/11/16
11/11/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Equal Weight from Underweight at Barclays with analyst Kannan Venkateshwar saying ESPN is "de-risked" going into 2017 after management quantified the impact of the new NBA contract. 2. Aetna (AET) and Humana (HUM) were upgraded to Outperform from Neutral at Credit Suisse, while the firm upgraded WellCare (WCG) to Neutral from Underperform. 3. Anadarko (APC) and EOG Resources (EOG) were upgraded to Buy from Neutral at Guggenheim. 4. Tiffany (TIF) upgraded to Outperform from Market Perform at Cowen with analyst Oliver Chen saying he believes the luxury market is coming back and Tiffany is well positioned and a trusted brand. 5. Vornado (VNO) upgraded to Buy from Neutral at BofA/Merrill with analyst James Feldman saying he believes the decision to spin DC and partner with JBG will allow management to focus on the New York City platform and notes the Penn Plaza corridor is rapidly improving. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/11/16
GUGG
11/11/16
UPGRADE
GUGG
Buy
Anadarko upgraded to Buy from Neutral at Guggenheim
12/01/16
12/01/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Deere (DE) upgraded to Buy from Neutral at BofA/Merrill with analyst Ross Gilardi saying Deere trades at a steep discount to Caterpillar (CAT), North American agricultural demand is at a 20-year lows, C&F is a potential US fiscal stimulus beneficiary and margins should only get better, and corn and oil prices are directionally correlated. 2. Travelers (TRV) upgraded to Buy from Neutral at Citi with analyst James Naklicki saying he expects auto results to remain poor, but for development to rebound and the stock to recover. 3. Anadarko (APC) and EOG Resources (EOG) were upgraded to Buy from Hold at Stifel with analyst Michael Scialla saying he sees reduced risk and strong long-term growth. 4. American Axle (AXL) upgraded to Buy from Hold at Deutsche Bank with analyst Rod Lache saying he believes the Trump administration's pro-growth changes particularly benefit companies with leverage to U.S. pickups, commercial trucks, and construction machinery. 5. Cracker Barrel (CBRL) upgraded to Buy from Hold at Argus with analyst John Staszak saying he is upbeat on the company's strategy of emphasizing both value meals and more expensive menu items, and he notes that its comp sales have risen for ten consecutive quarters. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
EOG EOG Resources
$105.38

2.86 (2.79%)

12/01/16
STFL
12/01/16
UPGRADE
Target $120
STFL
Buy
EOG Resources upgraded to Buy from Hold at Stifel
Stifel analyst Michael Scialla upgraded EOG Resources to Buy with a $120 price target. The OPEC agreement to cut production resulted in Stifel raising its 2017 oil price forecast to $55/bbl from $50bbl. Scialla had been concerned about EOG's lack of hedges and downside oil price risk prior to the announcement but now sees reduced risk and strong long-term growth.
11/15/16
11/15/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Fortinet (FTNT) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Melissa Gorham saying she is more constructive on Fortinet heading into fiscal 2017 given the stable demand environment, free cash flow generation, easier comps, and more durable renewals. 2. Advance Auto Parts (AAP) upgraded to Strong Buy from Outperform at Raymond James and to Positive from Neutral at Susquehanna following the company's quarterly report. 3. Chevron (CVX) upgraded to Buy from Outperform at CLSA while the firm also upgraded EOG Resources (EOG) to Outperform from Underperform. 4. Harley-Davidson (HOG) upgraded to Sector Perform from Underperform at RBC Capital with analyst Joseph Spak saying that risks to the company's growth have dissipated, partly due to the potential of President-elect Trump's policies to spark increased consumer spending. 5. Cheesecake Factory (CAKE) upgraded to Buy from Hold at Argus with analyst John Staszak saying investors should be attracted to Cheesecake by its dividend hikes, share repurchases, and ability to open new stores while generating consistent comparable sales growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/16/16
SOCO
11/16/16
UPGRADE
SOCO
Overweight
EOG Resources upgraded to Overweight from Equalweight at Capital One
SM SM Energy
$41.82

1.955 (4.90%)

08/30/16
GHSC
08/30/16
UPGRADE
Target $53
GHSC
Buy
SM Energy upgraded to Buy from Neutral at Seaport Global
Seaport analysts led by Mike Kelly upgraded SM Energy to Buy and raised its price target to $53 from $30 citing Permian exposure, compelling valuation, and improving leverage from the non-op Eagle Ford divestiture.
12/01/16
STFL
12/01/16
UPGRADE
Target $51
STFL
Buy
SM Energy upgraded to Buy from Hold at Stifel
Stifel analyst Michael Scialla upgraded SM Energy to Buy with a $51 price target. The OPEC agreement to cut production resulted in Stifel raising its 2017 oil price forecast to $55/bbl from $50bbl. Scialla had been concerned about SM's plans to outspend cash flow prior to the announcement but now sees reduced risk and strong long-term growth.
10/18/16
SOCO
10/18/16
UPGRADE
Target $50
SOCO
Overweight
SM Energy upgraded to Overweight from Equalweight at Capital One
Capital One upgraded SM Energy to Overweight and raised its NAV estimates to $50 from $46 following the near doubling of its Midland Basin acreage and the acceleration of those development plans combine for $2/share of the increase. Additionally, the sale of Williston assets for $785MM was above the value he was carrying in his model by $2/share.
10/04/16
HOWW
10/04/16
UPGRADE
HOWW
Outperform
SM Energy upgraded to Outperform from Sector Perform at Scotia Howard Weil
WLL Whiting Petroleum
$12.79

0.565 (4.62%)

12/01/16
STFL
12/01/16
UPGRADE
Target $15
STFL
Buy
Whiting Petroleum upgraded to Buy from Hold at Stifel
Stifel analyst Michael Scialla upgraded Whiting Petroleum to Buy with a $15 price target. The OPEC agreement to cut production resulted in Stifel raising its 2017 oil price forecast to $55/bbl from $50bbl. Scialla had been concerned about Whiting's above average debt/TTM EBITDA prior to the announcement but now sees reduced risk and strong long-term growth.
10/10/16
RHCO
10/10/16
NO CHANGE
RHCO
Whiting Petroleum named top pick at SunTrust
SunTrust analyst Neal Dingmann named Whiting Petroleum as his top pick. The analyst says that recent developments at the company should enable its production to remain "at least flat," while the company should get a big boost from recent oil price rises.
10/28/16
RAJA
10/28/16
UPGRADE
Target $16
RAJA
Strong Buy
Whiting Petroleum upgraded to Strong Buy from Outperform at Raymond James
Raymond James analyst John Freeman upgraded Whiting Petroleum to Strong Buy and raised its price target to $16 from $14. The analyst said Whiting reported "extremely impressive" Q3 report and now plans to double its Bakken rig count and sees double-digit production growth from current levels in 2017.
10/28/16
SPHN
10/28/16
UPGRADE
SPHN
Overweight
Whiting Petroleum upgraded to Overweight from Equal Weight at Stephens
Stephens analyst Will Green upgraded Whiting Petroleum to Overweight from Equal Weight, saying that the "worst may be behind" for the company.

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