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BP

BP

$36.75

0.42 (1.16%)

06:04
08/08/17
08/08
06:04
08/08/17
06:04

BP makes discovery in Mancos Shale

BP announced it has brought online a highly productive natural gas well in the Mancos Shale, highlighting the potential of the New Mexico field to be a significant new source of U.S. natural gas supply. Early production rates at the NEBU 602 Com 1H well in San Juan County are the highest achieved in the past 14 years within the San Juan Basin, a large oil and gas producing area spanning southwest Colorado and northeast New Mexico that includes the Mancos Shale. The well achieved an average 30-day initial production rate of 12.9 million cubic feet per day. The well test took place on assets BP acquired in late 2015, which expanded the company's existing position in the San Juan Basin and provided improved access to the Mancos Shale. "We are delighted with the initial production rate of this well," said Dave Lawler, CEO of BP's U.S. Lower 48 onshore business. "This result supports our strategic view that significant resource potential exists in the San Juan Basin, and gives us confidence to pursue additional development of the Mancos Shale, which we believe could become one of the leading shale plays in the U.S." BP Lower 48 expects to open a new headquarters office in Denver in 2018 that will be closer to the majority of its operated oil and natural gas production assets and proved reserves in the Rocky Mountain region.

BP BP
$36.75

0.42 (1.16%)

08/07/17
08/07/17
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 Conviction Buy from Buy at Goldman Sachs. 2. Chemours (CC) upgraded to Neutral from Sell at UBS with analyst John Roberts saying Chemours' execution has disproved his prior concerns. 3. BP (BP) upgraded to Overweight from Neutral at Piper Jaffray with analyst Guy Baber saying the company's cash flow generation is in the early stages of a "multi-year positive inflection" while Macondo headwinds are subsiding. 4. L3 Technologies (LLL) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Nosh Poponak saying he favors increased exposure to Defense given the current industry cycle position, geopolitics, and Department of Defense budget dynamics. 5. Illumina (ILMN) upgraded to Buy from Hold at Canaccord with analyst Mark Massaro saying he sees a strong upgrade cycle for NovaSeq beginning in the tird quarter and lasting for three years. He believes we remain in the early innings on major waves of cancer growth and expects the continuation of robust growth of direct to consumer products, such as 23andMe, ancestry.com and now Helix. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/07/17
PIPR
08/07/17
UPGRADE
Target $42
PIPR
Overweight
BP upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Guy Baber upgraded BP to Overweight and raised his price target for the shares to $42 from $38. The company's cash flow generation is in the early stages of a "multi-year positive inflection" while Macondo headwinds are subsiding, Barber tells investors in a research note. He expects BP's "outsized dividend yield" to normalize lower as confidence in the cash cycle improves. BP closed Friday up 19c to $36.33.
07/26/17
SOCG
07/26/17
DOWNGRADE
SOCG
Hold
BP downgraded to Hold from Buy at Societe Generale
Societe Generale analyst Irene Himona downgraded BP to Hold due to higher relative valuation, lower ROACE, and lower organic free cash flow yield versus the sector.
07/11/17
BERN
07/11/17
NO CHANGE
BERN
Oil price forecast cut at Bernstein
Bernstein analysts lowered their 2017 and 2018 oil price forecasts to $50 per barrel for both years. As reasons for the drop, the firm cited higher U.s. shale efficiency, their belief that elevated production levels will last longer than previously expected, and their belief that OPEC cuts will be insufficient to counter increased production by Libya, Iran and Nigeria. Publicly traded companies in the oil space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).

TODAY'S FREE FLY STORIES

DGX

Quest Diagnostics

$107.62

-0.32 (-0.30%)

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ALPMY

Astellas Pharma

$0.00

(0.00%)

, PFE

Pfizer

$44.06

0.3 (0.69%)

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PFE

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ALT

Altimmune

$26.03

0.53 (2.08%)

09:02
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Syndicate
Altimmune raises $4.9M in a registered direct offering »

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ALT

Altimmune

$26.03

0.53 (2.08%)

09:02
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Syndicate
Altimmune announces $4.9M registered direct offering of common stock »

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ABT

Abbott

$69.05

0.25 (0.36%)

09:02
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SIRI

Sirius XM

$6.97

-0.05 (-0.71%)

09:01
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Breaking Hot Stocks news story on Sirius XM »

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PDLI

PDL BioPharma

$2.42

-0.02 (-0.82%)

09:01
09/24/18
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PDL BioPharma announces new $100M share repurchase program »

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NBEV

New Age Beverages

$6.15

-1.7 (-21.66%)

09:01
09/24/18
09/24
09:01
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Syndicate
New Age Beverages to offer up to $50M in shares via 'At the Market' offering »

New Age Beverages…

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SIRI

Sirius XM

$6.97

-0.05 (-0.71%)

, P

Pandora

$9.08

-0.31 (-3.30%)

09:01
09/24/18
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Hot Stocks
Sirius XM says company, Pandora to pay royalties approaching $2B in 2019 »

Sirius XM (SIRI) says…

SIRI

Sirius XM

$6.97

-0.05 (-0.71%)

P

Pandora

$9.08

-0.31 (-3.30%)

03/08/13
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  • 24

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RDC

Rowan Companies

$18.02

0.54 (3.09%)

08:59
09/24/18
09/24
08:59
09/24/18
08:59
Upgrade
Rowan Companies rating change  »

Rowan Companies upgraded…

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  • 24

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SEAS

SeaWorld

$30.10

-0.5 (-1.63%)

08:58
09/24/18
09/24
08:58
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08:58
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SeaWorld analyst commentary  »

SeaWorld price target…

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LTRX

Lantronix

$4.14

-0.12 (-2.82%)

08:58
09/24/18
09/24
08:58
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08:58
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Lantronix analyst commentary  »

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  • 27

    Sep

AAPL

Apple

$217.65

-2.35 (-1.07%)

08:57
09/24/18
09/24
08:57
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08:57
Recommendations
Apple analyst commentary  »

Rosenblatt says Apple…

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  • 26

    Sep

TEUM

Pareteum

$2.80

-0.03 (-1.06%)

08:55
09/24/18
09/24
08:55
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08:55
Initiation
Pareteum initiated  »

Pareteum initiated with a…

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FTV

Fortive

$86.97

-0.45 (-0.51%)

, AAPL

Apple

$217.65

-2.35 (-1.07%)

08:55
09/24/18
09/24
08:55
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08:55
Options
Notable open interest changes for September 24th »

Friday's total…

FTV

Fortive

$86.97

-0.45 (-0.51%)

AAPL

Apple

$217.65

-2.35 (-1.07%)

AMD

AMD

$31.01

-0.17 (-0.55%)

MU

Micron

$44.70

-1.36 (-2.95%)

03/08/13
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  • 24

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MPC

Marathon Petroleum

$83.37

1.44 (1.76%)

, ANDV

Andeavor

$154.80

2.19 (1.44%)

08:55
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09/24
08:55
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08:55
Conference/Events
Andeavor to host special shareholder meeting »

Special Shareholder…

MPC

Marathon Petroleum

$83.37

1.44 (1.76%)

ANDV

Andeavor

$154.80

2.19 (1.44%)

03/08/13
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  • 24

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SIRI

Sirius XM

$6.97

-0.05 (-0.71%)

, P

Pandora

$9.08

-0.31 (-3.30%)

08:54
09/24/18
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Hot Stocks
Breaking Hot Stocks news story on Sirius XM, Pandora, Spotify »

Sirius XM sees taking…

SIRI

Sirius XM

$6.97

-0.05 (-0.71%)

P

Pandora

$9.08

-0.31 (-3.30%)

SPOT

Spotify

$175.06

2.38 (1.38%)

03/08/13
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  • 24

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UNFI

United Natural Foods

$31.02

-2.81 (-8.31%)

, SVU

Supervalu

$32.24

0.02 (0.06%)

08:52
09/24/18
09/24
08:52
09/24/18
08:52
Recommendations
United Natural Foods, Supervalu analyst commentary  »

United Natural Foods…

UNFI

United Natural Foods

$31.02

-2.81 (-8.31%)

SVU

Supervalu

$32.24

0.02 (0.06%)

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  • 28

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MU

Micron

$44.70

-1.36 (-2.95%)

, INTC

Intel

$46.64

-0.56 (-1.19%)

08:52
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08:52
Recommendations
Micron, Intel analyst commentary  »

Micron price target…

MU

Micron

$44.70

-1.36 (-2.95%)

INTC

Intel

$46.64

-0.56 (-1.19%)

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  • 24

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SIRI

Sirius XM

$6.97

-0.05 (-0.71%)

, P

Pandora

$9.08

-0.31 (-3.30%)

08:50
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Hot Stocks
Sirius XM: Pandora talks the 'worst kept secret of a courtship' »

Sirius XM (SIRI) says it…

SIRI

Sirius XM

$6.97

-0.05 (-0.71%)

P

Pandora

$9.08

-0.31 (-3.30%)

03/08/13
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  • 24

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08:50
09/24/18
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08:50
Conference/Events
CLSA energy analysts to hold an analyst/industry conference call »

Head of Sustainable…

HMNY

Helios and Matheson

$0.01

-0.001 (-6.71%)

08:49
09/24/18
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MoviePass Films co-acquires 'Monsters and Men', 'Border' with NEON »

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SIRI

Sirius XM

$6.97

-0.05 (-0.71%)

, P

Pandora

$9.08

-0.31 (-3.30%)

08:48
09/24/18
09/24
08:48
09/24/18
08:48
Hot Stocks
Breaking Hot Stocks news story on Sirius XM, Pandora »

Sirius XM says let…

SIRI

Sirius XM

$6.97

-0.05 (-0.71%)

P

Pandora

$9.08

-0.31 (-3.30%)

03/08/13
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  • 24

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AYX

Alteryx

$58.99

0.77 (1.32%)

08:46
09/24/18
09/24
08:46
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08:46
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Alteryx analyst commentary  »

Alteryx price target…

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  • 29

    Oct

TIS

Orchids Paper

$3.70

-0.02 (-0.54%)

, SFIX

Stitch Fix

$40.38

-1.27 (-3.05%)

08:45
09/24/18
09/24
08:45
09/24/18
08:45
Options
Largest borrow rate increases among liquid names »

Latest data shows the…

TIS

Orchids Paper

$3.70

-0.02 (-0.54%)

SFIX

Stitch Fix

$40.38

-1.27 (-3.05%)

CBL

CBL & Associates

$4.36

0.06 (1.40%)

WATT

Energous

$10.43

-0.61 (-5.53%)

IEF

iShares 7-10 Year Treasury Bond ETF

$101.00

0.03 (0.03%)

EMR

Emerson

$78.04

-0.34 (-0.43%)

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