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HK

Halcon Resources

$1.91

0.07 (3.80%)

, HPR

HighPoint Resources

$3.14

-0.03 (-0.95%)

08:15
01/22/19
01/22
08:15
01/22/19
08:15

Seaport Global

Annual Denver E&P Bus Tour travels throughout Denver on January 22.

HK

Halcon Resources

$1.91

0.07 (3.80%)

HPR

HighPoint Resources

$3.14

-0.03 (-0.95%)

JAG

Jagged Peak Energy

$10.45

0.25 (2.45%)

PDCE

PDC Energy

$33.54

0.64 (1.95%)

SRCI

SRC Energy

$5.04

(0.00%)

WLL

Whiting Petroleum

$29.82

0.72 (2.47%)

XEC

Cimarex Energy

$74.73

1.49 (2.03%)

  • 22

    Jan

  • 10

    Feb

HK Halcon Resources
$1.91

0.07 (3.80%)

12/20/18
SOCO
12/20/18
DOWNGRADE
SOCO
Underweight
Halcon Resources downgraded to Underweight from Overweight at Capital One
12/27/18
IMPC
12/27/18
NO CHANGE
Target $3
IMPC
Outperform
Halcon Resources price target lowered to $3 from $6 at Imperial Capital
Imperial Capital analyst Jason Wangler cut his price target on Halcon Resource shares to $3 from $6 after the company's closure of its water infrastructure divestiture and release of 2019 commentary, noting that the company's cash infusion comes at a good time and its plan to drop a rig in Q1 should help preserve cash and liquidity during a period of low oil prices. The analyst, who said Halcon is well positioned in terms of hedges at a time when "hedge books are starting to matter again," keeps an Outperform rating on the shares.
01/04/19
BOFA
01/04/19
DOWNGRADE
Target $2.5
BOFA
Underperform
Halcon Resources downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill Lynch analysts led by Doug Leggate downgraded a number of U.S. Oil and Gas stocks, citing moderating growth and eroding cash margins among the small-to-mid cap names. Balance sheets remain a key area of investor focus, said the team, citing the balance sheet of Halcon Resources in their downgrade of the stock to Underperform from Neutral. Leggate and the team lowered their price target on Halcon shares to $2.50 from $5.00.
01/04/19
01/04/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Skyworks (SWKS) downgraded to Neutral from Buy at Nomura Instinet with analyst Krysten Sciacca saying after Apple's (AAPL) profit warning, she believes growth headwinds from macro and trade uncertainty, as well as weak unit demand at the company's largest customers, will persist in 2019. 2. Snap (SNAP) downgraded to Neutral from Buy at Goldman Sachs with analyst Heath Terry saying he believes Snap's sequential user declines are likely to continue in Q4. 3. Fortinet (FTNT) double downgraded to Sell from Buy at Goldman Sachs with analyst Gabriela Borges saying the drivers of Fortinet's share gain and margin expansion are now better understood, with consensus 2019 estimates having been revised up over the past 12 months. 4. eBay (EBAY) downgraded to Neutral from Buy at Goldman Sachs with analyst Heath Terry saying he sees better opportunities with other names in Internet given uncertainty around eBay's growth and margin expansion, specifically the company's ability to deliver low-to-mid single digit growth on reduced ad spend. 5. Halcon Resources (HK), Chesapeake (CHK), and Southwestern Energy (SWN) were downgraded to Underperform from Neutral at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
HPR HighPoint Resources
$3.14

-0.03 (-0.95%)

12/07/18
JPMS
12/07/18
DOWNGRADE
Target $5
JPMS
Underweight
HighPoint Resources downgraded to Underweight from Overweight at JPMorgan
JPMorgan analyst Michael Glick double downgraded HighPoint Resources to Underweight from Overweight with a $5 price target. Although recent initiatives on Colorado's November ballot were voted against, the state's political environment will prove to be challenging for operators in the area, Glick tells investors in a research note. Further, he believes HighPoint has more balance sheet and area risk than others within the basin.
12/05/18
MKMP
12/05/18
INITIATION
Target $9
MKMP
Buy
HighPoint Resources initiated with a Buy at MKM Partners
MKM Partners analyst John Gerdes started HighPoint Resources with a Buy rating and $9 price target.
11/13/18
STFL
11/13/18
NO CHANGE
STFL
Niobrara-focused E&Ps pricing in 'political disaster,' says Stifel
Stifel analyst Michael Scialla noted that the stocks of Exploration & Production companies with significant exposure to Colorado's Niobrara play rebounded following the defeat of Proposition 112, but have since faded and underperformed the broader group as rhetoric from a Democrat-controlled Colorado legislature has investors more concerned about the state's political climate than they were prior to the vote. While he believes greater local control of oil and gas operations in Colorado is "inevitable," Scialla said he does not anticipate significant drilling inventory reductions or cost increases. He looks for Anadarko (APC), Bonanza Creek (BCEI), HighPoint Resources (HPR), Noble Energy (NBL), PDC Energy (PDCE), SRC Energy (SRCI) and Extraction Oil & Gas (XOG) and several private companies to proactively seek a solution to prevent another initiative like Prop. 112 from reaching the 2020 ballot, Scialla tells investors. He views shares of Anadarko, HighPoint, Noble, PDC and SRC as undervalued and maintains Buy ratings on those five stocks.
09/20/18
IMPC
09/20/18
NO CHANGE
Target $9
IMPC
Outperform
HighPoint valuation compelling despite political noise, says Imperial Capital
While the "noise of the politics" in Colorado continues to be a topic, HighPoint Resources is positioned well to continue exhibiting strong growth in the current environment that sets it up for a strong 2019, Imperial Capital analyst Jason Wangler tells investors in a research note. He believes HighPoint has been able to exhibit "significant" production growth over the last year primarily through execution on its NE Wattenberg assets and that the addition of the Hereford Field should allow this growth to continue. Further, the analyst views the stock's current valuation as compelling. Wangler keeps an Outperform rating on HighPoint Resources with a $9 price target.
JAG Jagged Peak Energy
$10.45

0.25 (2.45%)

12/10/18
EVER
12/10/18
DOWNGRADE
EVER
In Line
Jagged Peak Energy downgraded to In Line from Outperform at Evercore ISI
12/20/18
KEYB
12/20/18
INITIATION
KEYB
Sector Weight
Jagged Peak Energy initiated with a Sector Weight at KeyBanc
KeyBanc analyst Leo Mariani started Jagged Peak Energy with a Sector Weight rating citing the company's "outsized capital outspend" in a potentially weak oil market, as well as the uncertainty surrounding drilling results.
12/20/18
MACQ
12/20/18
INITIATION
Target $12
MACQ
Neutral
Jagged Peak Energy initiated with a Neutral at Macquarie
Macquarie analyst Paul Grigel initiated Jagged Peak Energy with a Neutral and $12 price target.
12/20/18
12/20/18
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. PolarityTE (PTE) initiated with an Overweight at Piper Jaffray. 2. Acer Therapeutics (ACER) initiated with a Buy at Needham. 3. Jagged Peak Energy (JAG) initiated with a Neutral at Macquarie and a Sector Weight at KeyBanc. 4. Inspired Entertainment (INSE) initiated with a Buy at Roth Capital. 5. HD Supply (HDS) initiated with a Buy at Buckingham. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
PDCE PDC Energy
$33.54

0.64 (1.95%)

12/20/18
SOCO
12/20/18
DOWNGRADE
SOCO
Equalweight
PDC Energy downgraded to Equalweight from Overweight at Capital One
01/04/19
BOFA
01/04/19
DOWNGRADE
Target $44
BOFA
Neutral
PDC Energy downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill Lynch analysts led by Doug Leggate downgraded a number of U.S. Oil and Gas stocks, citing moderating growth and eroding cash margins among the small-to-mid cap names. Among them, they downgraded PDC Energy to Neutral from Buy, citing its A&D risk. The group lowered their price target on PDC shares to $44 from $57.
01/07/19
BMOC
01/07/19
UPGRADE
BMOC
Outperform
PDC Energy upgraded to Outperform from Market Perform at BMO Capital
01/07/19
BMOC
01/07/19
UPGRADE
Target $50
BMOC
Outperform
PDC Energy upgraded to Outperform at BMO Capital on valuation
As reported earlier, BMO Capital analyst Phillip Jungwirth upgraded PDC Energy to Outperform from Market Perform while also lowering his price target to $50 from $55. The analyst states that although the price target change is driven by his view of lower commodity prices, he sees risk-reward on the stock as "attractive" given its discounted valuation. Jungwirth also cites PDC Energy's "above-average debt-adjusted growth" profile and believes that its production forecast is "mostly achievable".
SRCI SRC Energy
$5.04

(0.00%)

12/05/18
MKMP
12/05/18
INITIATION
Target $9
MKMP
Buy
SRC Energy initiated with a Buy at MKM Partners
MKM Partners analyst John Gerdes started SRC Energy initiated with a Buy rating and $9 price target.
12/06/18
MKMP
12/06/18
INITIATION
Target $9
MKMP
Buy
SRC Energy initiated with a Buy at MKM Partners
As reported earlier, MKM Partners analyst John Gerdes initiated SRC Energy with a Buy rating and a price target of $9. The analyst cites the company's "solidly competitive DJ Basin" full cycle return of 145%, which is above the industry median cash recycle ratio of 125%-130%.
12/07/18
JPMS
12/07/18
DOWNGRADE
Target $6
JPMS
Neutral
SRC Energy downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Michael Glick downgraded SRC Energy (SRCI) to Neutral and lowered his price target for the shares to $6 from $9. The analyst ranks SRC second to PDC Energy (PDCE) within the Wattenberg, but prefers PDC's ability to re-allocate capital to the Delaware in the event Colorado's soon to be heavily Democratic government works to enact legislation that limits the oil and gas industry.
WLL Whiting Petroleum
$29.82

0.72 (2.47%)

12/06/18
SPHN
12/06/18
INITIATION
Target $54
SPHN
Overweight
Whiting Petroleum initiated with an Overweight at Stephens
Stephens analysts Gail Nicholson and Drew Lipke began coverage of the E&P sector with a positive outlook, starting Whiting Petroleum with an Overweight rating and $54 price target.
11/29/18
COWN
11/29/18
INITIATION
Target $30
COWN
Market Perform
Whiting Petroleum initiated with a Market Perform at Cowen
Cowen started Whiting Petroleum with a Market Perform rating and $30 price target.
11/12/18
11/12/18
UPGRADE

Outperform
Whiting Petroleum upgraded to Outperform on execution, valuation at Credit Suisse
As previously reported, Credit Suisse analyst Betty Jiang upgraded Whiting Petroleum to Outperform from Neutral. The analyst noted that under Brad Holly's leadership over the last year, the company has demonstrated consistent execution as the company met production targets at lower than expected costs and stayed on budget. Whiting Petroleum still has to manage around known legacy issues, including a declining Redtail production base and inventory depth in the Bakken core, both are reasons that they trade at a discount valuation, she contends. But Jiang points out that management is staying on message with the company's core value proposition to investors, namely balancing growth with meaningful free cash flow generation.
11/12/18
FBCO
11/12/18
UPGRADE
FBCO
Outperform
Whiting Petroleum upgraded to Outperform from Neutral at Credit Suisse
XEC Cimarex Energy
$74.73

1.49 (2.03%)

12/05/18
MKMP
12/05/18
INITIATION
Target $108
MKMP
Buy
Cimarex Energy initiated with a Buy at MKM Partners
MKM Partners analyst John Gerdes started Cimarex Energy with a Buy rating and $108 price target.
12/06/18
MKMP
12/06/18
INITIATION
Target $108
MKMP
Buy
Cimarex Energy initiated with a Buy at MKM Partners
As reported earlier, MKM Partners analyst John Gerdes initiated Cimarex Energy (XEC) with a Buy rating and a price target of $108. The analyst cites his Q4 production forecast of 246MBOE/d coming at the higher end of its guidance of 238-247 MBOE/d, saying that its acquisition of Resolute Energy (REN) is "impeccably complementary". Gerdes also cites the positive impact of Cimarex Energy's Delaware Basin development.
12/11/18
BARD
12/11/18
NO CHANGE
Target $112
BARD
Outperform
Cimarex Energy price target cut to $112 from $136 at Baird
Baird analyst Joseph Allman maintained an Outperform rating but lowered his price target to $112 from $136, citing lower oil prices. In a research note to investors, Allman says the stock's outperformance over the last three months is a testament to improved Permian oil differentials and Henry Hub gas prices and the company's multiyear cash flow outlook, positive operations, growing return of capital and visible free cash flow generation. Allman sees continued relative stock outperformance and "strong" absolute stock performance over the next few years.
01/16/19
LEHM
01/16/19
INITIATION
Target $81
LEHM
Equal Weight
Cimarex Energy initiated with an Equal Weight at Barclays
Barclays analyst Jeanine Wai started Cimarex Energy with an Equal Weight rating and $81 price target.

TODAY'S FREE FLY STORIES

SCS

Steelcase

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-0.115 (-0.65%)

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Perrigo

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Trustmark

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Wix.com

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1.02 (0.95%)

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CG

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INVH

Invitation Homes

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16:49
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Syndicate
Invitation Homes files to sell 43M shares of common stock for holders »

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SCS

Steelcase

$17.49

-0.115 (-0.65%)

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Steelcase sees FY20 EPS $1.20-$1.35, consensus $1.32 »

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BA

Boeing

$373.87

1.77 (0.48%)

16:48
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Periodicals
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SCS

Steelcase

$17.49

-0.115 (-0.65%)

16:47
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Earnings
Steelcase sees Q1 EPS 16c-20c, consensus 20c »

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EOLS

Evolus

, AGN

Allergan

$154.13

3.41 (2.26%)

16:46
03/19/19
03/19
16:46
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16:46
Initiation
Evolus, Allergan initiated  »

Evolus assumed with a Buy…

EOLS

Evolus

AGN

Allergan

$154.13

3.41 (2.26%)

03/08/13
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  • 25

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NVCR

Novocure

$50.99

-0.11 (-0.22%)

16:45
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Initiation
Novocure initiated  »

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  • 19

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SCS

Steelcase

$17.49

-0.115 (-0.65%)

16:44
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16:44
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16:44
Earnings
Steelcase reports Q4 EPS 29c, consensus 26c »

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MYL

Mylan

$28.61

0.44 (1.56%)

16:44
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Initiation
Mylan initiated  »

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ALTR

Altair

$37.68

-0.51 (-1.34%)

16:43
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Initiation
Altair initiated  »

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MNK

Mallinckrodt

$23.19

0.49 (2.16%)

16:42
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Initiation
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  • 27

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LCI

Lannett

$8.05

0.17 (2.16%)

16:41
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JAZZ

Jazz Pharmaceuticals

$135.47

1.02 (0.76%)

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NVRO

Nevro

$44.76

0.37 (0.83%)

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NVRO

Nevro

$44.76

0.37 (0.83%)

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ENDP

Endo

$8.78

0.19 (2.21%)

16:38
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16:38
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16:38
Initiation
Endo initiated  »

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METC

Ramaco Resources

$5.67

0.09 (1.61%)

16:38
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  • 20

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COST

Costco

$237.05

0.43 (0.18%)

16:38
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Initiation
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TRN

Trinity Industries

$22.46

-0.25 (-1.10%)

16:38
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Conference/Events
Trinity Industries management to meet with Stephens »

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  • 26

    Mar

COLL

Collegium Pharmaceutical

$17.35

-0.25 (-1.42%)

16:38
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03/19
16:38
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16:38
Initiation
Collegium Pharmaceutical initiated  »

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