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CVX

Chevron

$121.72

0.17 (0.14%)

, BP

BP

$44.44

0.2 (0.45%)

17:58
07/19/18
07/19
17:58
07/19/18
17:58

Judge dismisses NYC climate lawsuit against oil majors, Reuters reports

U.S. District Judge John Keenan in Manhattan rejected a lawsuit by New York City seeking to hold major oil companies liable for climate change caused by carbon emissions from burning fossil fuels, Reuters reports. In dismissing NYC's allegations against Chevron (CVX), BP (BP), ConocoPhillips (COP), Exxon Mobil (XOM), and Royal Dutch Shell (RDS.A), Keenan said that climate change must be addressed through federal regulation and foreign policy, the report says. "Climate change is a fact of life, as is not contested by Defendants," the judge said. "But the serious problems caused thereby are not for the judiciary to ameliorate. Global warming and solutions thereto must be addressed by the two other branches of government." Seth Stein, a spokesman for New York City Mayor Bill de Blasio, said that New York city intends to appeal the dismissal, according to Reuters. Reference Link

CVX

Chevron

$121.72

0.17 (0.14%)

BP

BP

$44.44

0.2 (0.45%)

COP

ConocoPhillips

$69.70

-0.65 (-0.92%)

XOM

Exxon Mobil

$82.01

-0.22 (-0.27%)

RDS.A

Royal Dutch Shell

$69.17

0.27 (0.39%)

RDS.B

Royal Dutch Shell

$72.44

0.14 (0.19%)

  • 26

    Jul

  • 27

    Jul

CVX Chevron
$121.72

0.17 (0.14%)

07/03/18
MACQ
07/03/18
DOWNGRADE
MACQ
Neutral
Chevron downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Chevron to Neutral from Outperform and cut its price target to $125 price target from $140.
06/18/18
06/18/18
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. Francesca's (FRAN) upgraded to Buy from Neutral at B. Riley FBR with analyst Susan Anderson saying she has increased confidence in the company's turnaround following meetings with management. 2. Chevron (CVX) upgraded to Outperform from Market Perform at Raymond James with analyst Pavel Molchanov saying Chevron offers relatively more leverage than most peers to higher oil prices, which should reach cyclical highs over the next 6 to 12 months, while low WTI exposure maximizes earnings and free cash flow generation. 3. Trovagene (TROV) upgraded to Buy from Hold at Maxim with analyst Jason McCarthy citing the positive news from the company's lead drug candidate PCM-075 as well as its completion of a capital raise. 4. RBS (RBS) upgraded to Buy from Hold at Investec. 5. Teva (TEVA) upgraded to Market Perform from Underperform at Wells Fargo with analyst David Maris citing a "positive meeting" with Teva's CEO Kundefinedre Schultz and CFO Mike McClellan in Israel. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/18/18
06/18/18
UPGRADE
Target $140

Outperform
Chevron upgraded to Outperform on oil price leverage, buybacks at Raymond James
As previously reported, Raymond James upgraded Chevron to Outperform from Market Perform and established a $140 price target. Analyst Pavel Molchanov said Chevron offers relatively more leverage than most peers to higher oil prices, which should reach cyclical highs over the next 6 to 12 months, while low WTI exposure maximizes earnings and free cash flow generation. Molchanov sees free cash flow above 6% driving a resumption in buybacks and notes shares are down 1% year-to-date, versus the IXE gain of 3%.
06/18/18
RAJA
06/18/18
UPGRADE
RAJA
Outperform
Chevron upgraded to Outperform from Market Perform at Raymond James
BP BP
$44.44

0.2 (0.45%)

07/09/18
RBCM
07/09/18
UPGRADE
RBCM
Top Pick
BP upgraded to Top Pick from Outperform at RBC Capital
07/09/18
07/09/18
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. FireEye (FEYE) upgraded to Overweight from Neutral at Piper Jaffray with analyst Andrew Nowinski saying a recent round of channel checks showed a "significant improvement" in demand trends for the company. 2. BP (BP) upgraded to Top Pick from Outperform at RBC Capital with analyst Biraj Borkhataria saying the company's visibility for volume growth will lead to higher cash flows from operations. 3. Capital One (COF) upgraded to Outperform from Perform at Oppenheimer with analyst Ben Chittenden saying the delinquency formation is improving and Q2 expectations seem too low to him. 4. Dunkin' Brands (DNKN) upgraded to Neutral from Underperform at Longbow with analyst Alton Stump saying his conversations with U.S. franchisees lead him to believe the company's Q2 same-store sales rose 0.5-1.0%, which would be in-line with the consensus view and slightly better than his prior forecast for them to have been flat with last year. 5. Baidu (BIDU) upgraded to Outperform from Neutral at Credit Suisse and to Overweight from Sector Weight at KeyBanc. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/05/18
RBCM
07/05/18
UPGRADE
Target $10
RBCM
Outperform
Kosmos upgraded to Outperform at RBC Capital on oil outlook, Tortue development
As reported earlier, RBC Capital analyst Al Stanton upgraded Kosmos (KOS) to Outperform from Sector Perform and raised his price target to $10 from $7. The analyst cites his more positive outlook for higher oil price as well as more upbeat BP (BP) commentary on Tortue gas development offshore Mauritania/Senegal. Stanton estimates the company's production growth reaching 50% in FY18, with higher realisations and oil prices in 2019 leading to another 20% increase in output.
07/09/18
RBCM
07/09/18
UPGRADE
RBCM
Top Pick
BP upgraded to Top Pick from Outperform at RBC Capital
RBC Capital analyst Biraj Borkhataria upgraded BP to Top Pick from Outperform with a price target of GBP 675, saying the company's visibility for volume growth will lead to higher cash flows from operations. The analyst adds that BP has "one of the stronger growth profiles from now to 2020 among the majors" with further growth options beyond, while its liability payments from the Macondo disaster are diminishing as claims are reduced. Borkhataria also sees BP benefiting from wider crude spreads.
COP ConocoPhillips
$69.70

-0.65 (-0.92%)

07/12/18
MSCO
07/12/18
INITIATION
Target $82
MSCO
Overweight
ConocoPhillips initiated with an Overweight at Morgan Stanley
Morgan Stanley analysts Devin McDermott and Drew Venker added coverage of 12 large-cap and diversified E&Ps, identifying ConocoPhillips (COP), Occidental Petroleum (OXY) and Continental Resources (CLR) as their top picks. The analysts set an $82 price target on Overweight-rated ConocoPhillips.
07/11/18
LEHM
07/11/18
DOWNGRADE
Target $66
LEHM
Underweight
Barclays downgrades Hess to Underweight on 'steepest' group premium
Barclays analyst Paul Cheng downgraded Hess Corp. (HES) to Underweight from Equal Weight while raising his price target for the shares to $66 from $55. The analyst says his analysis indicates Hess trades at the "steepest premium" in the group. His Guyana estimate would need to move 75%-100% higher for Hess to trade in-line with large-cap Exploration and Production companies. Cheng replaced Cenovus Energy (CVE) with ConocoPhillips (COP) as his top pick following the stock's strong share performance. He also double upgraded Petrobras (PBR) Overweight from Underweight, upgraded Husky Energy (HUSKF) to Overweight and Imperial Oil (IMO) to Equal Weight. The analyst thinks Hess and Exxon Mobil (XOM) offer the least value over the next 12 months.
06/08/18
06/08/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Pfizer (PFE) and Eli Lilly (LLY) were initiated with an Overweight at Cantor Fitzgerald. 2. LivaNova (LIVN) initiated with a Buy at Stifel. 3. Occidental Petroleum (OXY) and Chevron (CVX) were initiated with a Buy at Mizuho while ConocoPhillips (COP) and Exxon Mobil (XOM) were initiated with a Neutral. 4. LeMaitre (LMAT) resumed with a Buy at Roth Capital. 5. Savara (SVRA) initiated with an Outperform, sees 300% upside, says Evercore ISI. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/11/18
BMOC
06/11/18
INITIATION
Target $78
BMOC
Outperform
ConocoPhillips initiated with an Outperform at BMO Capital
BMO Capital analyst Phillip Jungwirth initiated ConocoPhillips with an Outperform rating and a price target of $78. The analyst expects the company's "Brent-levered, low-capital-intensive portfolio" to generate free cash flows that are 20%-30% above the management' payout target. Jungwirth also notes ConocoPhillips' "core shale position, conventional project start-up in the near term, and a stable LNG-oil sands production driving output growth". The analyst models $21B of excess free cash flows through FY22 or 26% of its current market cap after including the FY18 dividend payout and debt repayment.
XOM Exxon Mobil
$82.01

-0.22 (-0.27%)

05/30/18
05/30/18
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. Exxon Mobil (XOM) upgraded to Outperform from Sector Perform at RBC Capital with analyst Biraj Borkhataria saying the stock trades at 8.4-times expected enterprise value to debt-adjusted cash flow vs. 7.1-times for other "super majors" in the industry, forecasting that premium to shrink by 2023 given Exxon Mobil's "superior cash flow growth and debt reduction potential." 2. HP Inc. (HPQ) upgraded to Buy from Hold at Maxim with analyst Nehal Chokshi saying the company's base business is priced "attractively" as the latest quarter places it on track for low-single digit growth. 3. Meredith (MDP) upgraded to Outperform from Neutral at Credit Suisse with analyst Jason Bazinet saying he attributes the weakness in the shares over the past six months to the company's elevated debt levels and deteriorating print ad trends. 4. Allegheny Technologies (ATI) upgraded to Neutral from Sell at Goldman Sachs with analyst Matthew Korn citing the company's "consistency" of growing within a technologically challenging market as well as its fair valuation, while adding that there is some upside to his forecasts based on its operational strength. 5. G-III Apparel (GIII) upgraded to Outperform from Market Perform at Cowen with analyst John Kernan saying he believes free cash flow will improve with the expansion of Donna Karan profitability and as earnings headwinds diminish. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/08/18
MZHO
06/08/18
INITIATION
Target $81
MZHO
Neutral
Exxon Mobil initiated with a Neutral at Mizuho
Mizuho analyst Paul Sankey started Exxon Mobil (XOM) with a Neutral rating and $81 price target. The analyst doesn't see "real growth" from the company until 2020 and prefers shares of Chevron (CVX).
RDS.A Royal Dutch Shell
$69.17

0.27 (0.39%)

07/06/18
DZBN
07/06/18
UPGRADE
DZBN
Buy
Royal Dutch Shell upgraded to Buy from Hold at DZ Bank
DZ Bank analyst Werner Eisenmann upgraded Royal Dutch Shell to Buy.
07/06/18
07/06/18
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. Biogen (BIIB) upgraded to Buy from Neutral at Citi with analyst Robyn Karnauskas citing the company's announcement of positive results from an 18-month clinical trial for BAN2401, a drug to treat Alzheimer's. 2. Starbucks (SBUX) upgraded to Hold from Sell at DZ Bank. 3. Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at DZ Bank. 4. Millicom (MIICF) upgraded to Buy from Neutral at BofA/Merrill. 5. ManTech (MANT) upgraded to Buy from Hold at SunTrust with analyst Tobey Sommer citing the company's "superior positioning to further accelerate market share gains and capitalize on federal budget increases". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/19/18
RAJA
07/19/18
UPGRADE
RAJA
Outperform
Royal Dutch Shell upgraded to Outperform from Market Perform at Raymond James
07/19/18
RAJA
07/19/18
UPGRADE
RAJA
Outperform
Royal Dutch Shell upgraded to Outperform on yield at Raymond James
As previously reported, Royal Dutch Shell upgraded Royal Dutch Shell to Outperform from Market Perform. Analyst Jean-Pierre Dmirdjian said the macro backdrop remains supportive of Brent pricing and Royal Dutch Shell shares are attractive with a 5.5% dividend yield. Dmirdjian comments the BG Group acquisition is paying off, capax has decreased commensurately with reserves replacement cost, and has exhibited the lowest FD&A cost in the sector.
RDS.B Royal Dutch Shell
$72.44

0.14 (0.19%)

11/03/17
SOCG
11/03/17
DOWNGRADE
SOCG
Hold
Royal Dutch Shell downgraded to Hold from Buy at Societe Generale
Societe Generale downgraded Royal Dutch Shell to Hold citing valuation.

TODAY'S FREE FLY STORIES

FBP

First BanCorp

$8.98

-0.35 (-3.75%)

14:17
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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NASDAQ market internals summary »

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Conference/Events
Bernstein transportation analysts to hold an analyst/industry conference call »

European Transportation…

$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
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NYSE market internals summary »

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FITB

Fifth Third

$26.79

-0.91 (-3.29%)

14:15
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Options
Fifth Third put volume heavy and directionally bearish »

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BUD

AB InBev

$76.46

3.23 (4.41%)

14:05
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14:05
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Options
Anheuser Busch call volume above normal and directionally bullish »

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  • 14

    Nov

AQMS

Aqua Metals

$2.47

-0.02 (-0.80%)

, JCI

Johnson Controls

$33.25

-1.54 (-4.43%)

14:02
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Hot Stocks
Aqua Metals announces official vendor certification from Johnson Controls »

Aqua Metals (AQMS)…

AQMS

Aqua Metals

$2.47

-0.02 (-0.80%)

JCI

Johnson Controls

$33.25

-1.54 (-4.43%)

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INFN

Infinera

$4.42

0.02 (0.45%)

13:56
11/14/18
11/14
13:56
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13:56
Hot Stocks
Infinera CFO Brad Feller buys 40K shares of company stock »

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GME

GameStop

$13.21

-0.68 (-4.90%)

13:55
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13:55
Options
GameStop put volume heavy and directionally bearish »

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LBRDA

Liberty Broadband

$82.54

0.02 (0.02%)

13:55
11/14/18
11/14
13:55
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13:55
Conference/Events
Liberty Broadband to host investor meeting »

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  • 14

    Nov

APRN

Blue Apron

$1.15

-0.07 (-5.74%)

13:52
11/14/18
11/14
13:52
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13:52
Downgrade
Blue Apron rating change  »

Blue Apron downgraded to…

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  • 14

    Nov

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    Nov

GOOS

Canada Goose

$63.55

4.95 (8.45%)

13:46
11/14/18
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13:46
Recommendations
Canada Goose analyst commentary  »

Canada Goose price target…

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  • 14

    Nov

COG

Cabot Oil & Gas

$25.96

-0.54 (-2.04%)

13:40
11/14/18
11/14
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11/14/18
13:40
Options
Aggressive call buying in Cabot Oil and Gas »

Aggressive call buying in…

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  • 26

    Nov

ACU

Acme United

$16.35

-1.03 (-5.93%)

13:38
11/14/18
11/14
13:38
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13:38
Hot Stocks
Acme United raises quarterly dividend 9% to 12c per share »

The board of directors of…

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FB

Facebook

$143.10

0.91 (0.64%)

13:34
11/14/18
11/14
13:34
11/14/18
13:34
Periodicals
Facebook morale takes hit amid challenging year, WSJ reports »

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  • 28

    Nov

ERIC

Ericsson

$8.55

-0.37 (-4.15%)

13:33
11/14/18
11/14
13:33
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13:33
Periodicals
Ericsson CEO not seeing sales boost as security worries hit rivals, Reuters says »

Ericsson CEO Borje Ekholm…

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  • 14

    Nov

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  • 26

    Nov

BMWYY

BMW

$0.00

(0.00%)

, VOD

Vodafone

$20.26

0.17 (0.85%)

13:30
11/14/18
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13:30
Periodicals
BMW, Vodafone, Ericsson urge EU to weigh 5G car technology, Reuters says »

BMW (BMWYY), Vodafone…

BMWYY

BMW

$0.00

(0.00%)

VOD

Vodafone

$20.26

0.17 (0.85%)

ERIC

Ericsson

$8.55

-0.37 (-4.15%)

03/08/13
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  • 14

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    Nov

BIG

Big Lots

$43.00

-1.02 (-2.32%)

13:30
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Options
Bearish option flow in Big Lots »

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GLIBA

GCI Liberty

$47.08

0.59 (1.27%)

13:25
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Conference/Events
GCI Liberty to host investor meeting »

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  • 14

    Nov

LBRDK

Liberty Broadband

$82.44

-0.1 (-0.12%)

13:25
11/14/18
11/14
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Conference/Events
Liberty Broadband to host investor meeting »

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  • 14

    Nov

GS

Goldman Sachs

$200.31

-4.61 (-2.25%)

, JPM

JPMorgan

$107.15

-2.44 (-2.23%)

13:24
11/14/18
11/14
13:24
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13:24
Periodicals
Levi Strauss looking to raise $600M-$800M in IPO, CNBC reports »

Levi Strauss is planning…

GS

Goldman Sachs

$200.31

-4.61 (-2.25%)

JPM

JPMorgan

$107.15

-2.44 (-2.23%)

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  • 26

    Feb

PCG

PG&E

$25.40

-7.3 (-22.32%)

13:22
11/14/18
11/14
13:22
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13:22
Hot Stocks
PG&E says 23,000 electric, 12,000 gas customers without service in Butte County »

Pacific Gas and Electric…

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SGH

Smart Global

$28.92

0.57 (2.01%)

13:21
11/14/18
11/14
13:21
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13:21
Recommendations
Smart Global analyst commentary  »

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    Nov

PCG

PG&E

$25.60

-7.1 (-21.71%)

13:20
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11/14
13:20
11/14/18
13:20
Options
PG&E implied volatility spikes to new highs as shares drop 22.6% »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
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11/14
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13:17
Technical Analysis
NASDAQ market internals summary »

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