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XOM

Exxon Mobil

$80.32

-0.4 (-0.50%)

, KMI

Kinder Morgan

$17.94

0.015 (0.08%)

17:06
08/09/18
08/09
17:06
08/09/18
17:06

ExxonMobil joins Kinder Morgan, EagleClaw and Apache on Permian pipeline project

Kinder Morgan Texas Pipeline, a subsidiary of Kinder Morgan (KMI), EagleClaw Midstream Ventures, LLC (EagleClaw), a portfolio company of Blackstone Energy Partners, and Apache Corporation (APA) today announced that Exxon Mobil Corporation (XOM) has signed a letter of intent to support the proposed Permian Highway Pipeline Project. Under the letter of intent, ExxonMobil subsidiary XTO Energy may contract for up to 450,000 dekatherms per day (Dth/d) of capacity on the pipeline. The approximately $2 billion PHP Project will provide an outlet for increased natural gas production from the Permian Basin to growing market areas along the Texas Gulf Coast and is designed to transport up to 2 billion cubic feet per day (Bcf/d) of natural gas through approximately 430 miles of 42-inch pipeline from the Waha to Katy, Texas, areas, with connections to the U.S. Gulf Coast and Mexico markets. The PHP Project is expected to be in service in late 2020, subject to the execution of definitive agreements and the receipt of construction permits. As previously announced, KMTP and EagleClaw will be the initial partners, each with a 50 percent ownership interest in the project. Apache and EagleClaw will both be significant shippers on the proposed pipeline, with each entity planning to commit up to 500,000 Dth/d to the project. Apache will also have the option to acquire equity from the initial partners. KMTP will build and operate the pipeline.

XOM

Exxon Mobil

$80.32

-0.4 (-0.50%)

KMI

Kinder Morgan

$17.94

0.015 (0.08%)

APA

Apache

$43.30

-2.82 (-6.11%)

XOM Exxon Mobil
$80.32

-0.4 (-0.50%)

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.
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
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).
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.
KMI Kinder Morgan
$17.94

0.015 (0.08%)

06/26/18
06/26/18
UPGRADE
Target $22

Outperform
Kinder Morgan upgraded to Outperform on TransMountain sale at Bernstein
As previously reported, Bernstein analyst Jean Ann Salisbury upgraded Kinder Morgan to Outperform from Market Perform as he believes the TransMountain sale could give a path to outperformance. Over the next year, the analyst sees three drivers for multiple expansion, namely deleveraging from the TransMountain sale, dividend becoming competitive, and energy investors looking for a diversified, nonPermian-focused way to play. Salisbury also raised his price target on the shares to $22 from $21.
06/25/18
BERN
06/25/18
UPGRADE
BERN
Outperform
Kinder Morgan upgraded to Outperform from Market Perform at Bernstein
06/18/18
WELS
06/18/18
UPGRADE
Target $20
WELS
Outperform
Kinder Morgan upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Michael Blum upgraded Kinder Morgan to Outperform with a $20 price target. The analyst views the stock's risk/reward as favorable with "minimal downside" and 20% upside potential. He highlights Kinder Morgan's improved balance sheet following the announced sale of TMX, and an anticipated shift in drilling activity to less constrained basins including the Eagle Ford and Bakken.
06/06/18
STFL
06/06/18
NO CHANGE
Target $41
STFL
Buy
Matador's GCX agreement overshadowed by Permian oil concerns, says Stifel
Stifel analyst Michael Scialla notes that Matador (MTDR) announced it has executed an agreement with Kinder Morgan (KMI) securing 110-115 MMBtu/d of capacity on the Gulf Coast Express Pipeline, which is expected to be in service in Q4. The analyst believes this provides Matador exposure to Gulf Coast natural gas pricing, which has traded at a premium to most natural gas hubs, specially the Permian's Waha hub. Despite the news, Matador's stock was down amid investor concern over further widening of Midland-Cushing basis and dwindling Permian Basin oil takeaway capacity, he contends. Scialla reiterates a Buy rating and $41 price target on the shares.
APA Apache
$43.30

-2.82 (-6.11%)

07/12/18
MSCO
07/12/18
INITIATION
Target $42
MSCO
Underweight
Apache initiated with an Underweight at Morgan Stanley
Morgan Stanley analysts Devin McDermott and Drew Venker added coverage of 12 large-cap and diversified E&Ps, including Apache, which they started with a $42 price target and Underweight rating.
07/23/18
MZHO
07/23/18
INITIATION
Target $55
MZHO
Neutral
Apache initiated with a Neutral at Mizuho
Mizuho analyst Paul Sankey started Apache with a Neutral rating and $55 price target.
07/24/18
MZHO
07/24/18
INITIATION
Target $173
MZHO
Buy
Mizuho names 'Apple of oil' EOG top pick in Oil & Gas sector
Mizuho analyst Paul Sankey last night initiated 10 names in the Global Oil & Gas group with five buys, four neutrals and one underperform. He also maintained a Buy rating on Occidental Petroleum (OXY) and Neutral rating on ConocoPhillips (COP). The analyst put Buy ratings on EOG Resources (EOG), his top pick in the group, Anadarko Petroleum (APC), Pioneer Natural Resources (PXD), Noble Energy (NBL) and Suncor (SU). Sankey calls EOG the Apple (AAPL) of oil. The company has been a pioneer in unconventional oil development in the U.S. and its technology-driven, innovation-focused approach will continue to drive peer-leading rates of return and oil growth, the analyst contends. He put Neutral ratings on Devon Energy (DVN), Hess Corp. (HES), Marathon Oil (MRO) and Apache (APA). Lastly, Sankey initiated Murphy Oil (MUR) with an Underperform rating and $36 price target. While the stock trades well below peers on both mid-cycle free cash and discount to net asset value, there is not enough potential upside to justify a Neutral at this point, Sankey told investors in a research note.
08/07/18
MUFG
08/07/18
NO CHANGE
Target $66
MUFG
Overweight
Apache price target raised to $66 from $60 at MUFG
MUFG analyst Michael McAllister raised his price target for Apache to $66 after the company reported production within the U.S. rose 10% sequentially for Q2. Year-over-year production growth in the region came in at 32%, and for the second time this year U.S. results have driven guidance higher, McAllister tells investors in a post-earnings research note. The analyst keeps an Overweight rating on Apache shares.

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Delta Air Lines

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SPDR S&P 500 ETF Trust

$290.73

-0.36 (-0.12%)

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S&P 500

$0.00

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SPDR S&P 500 ETF Trust

$290.73

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ARCE

Arco Platform

$0.00

(0.00%)

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KMX

CarMax

$75.87

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AINC

Ashford

$75.95

-11.75 (-13.40%)

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ANAB

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$94.68

-7.25 (-7.11%)

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SF

Stifel Financial

$53.96

-0.08 (-0.15%)

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I

Intelsat

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Skyline

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ZUMZ

Zumiez

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