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Fly News Breaks for January 5, 2016
OAS, XEC, EOG, CNQ, APC, HES
Jan 5, 2016 | 06:04 EDT
Citi analyst Robert Morris downgraded Hess Corp. (HES) to Neutral citing a "tepid" 2016 outlook. The company's production in the Bakken, its primary growth driver in 2015, is expected to drop 9% this year, Morris tells investors in a research note. He cut his price target for the shares to $54 from $68. Elsewhere in the Exploration & Production space, the analyst this morning upgraded Anadarko (APC), Canadian Natural (CNQ), EOG Resources (EOG) and Cimarex Energy (XEC) to Buy and Oasis Petroleum (OAS) to Neutral.