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QEP

QEP Resources

$7.91

0.42 (5.61%)

, BX

Blackstone

$40.62

-0.1 (-0.25%)

17:04
05/20/19
05/20
17:04
05/20/19
17:04

QEP Resources considering sale after Elliott proposal, Bloomberg says

QEP Resources (QEP) has drawn acquisition interest from Blackstone (BX), Whiting Petroleum (WLL), and Callon Petroleum (CPE), Bloomberg's Kiel Porter and Scott Deveau report, citing people familiar with the matter. The company said in February that it would look into a sale after activist Elliott Management made a $2B offer to acquire the natural gas and oil explorer and producer, Porter and Deveau note. Elliott is still in the bidding for QEP, the authors note. Reference Link

QEP

QEP Resources

$7.91

0.42 (5.61%)

BX

Blackstone

$40.62

-0.1 (-0.25%)

WLL

Whiting Petroleum

$22.74

-0.75 (-3.19%)

CPE

Callon Petroleum

$7.62

-0.56 (-6.85%)

  • 29

    May

  • 11

    Jun

QEP QEP Resources
$7.91

0.42 (5.61%)

11/29/18
COWN
11/29/18
INITIATION
Target $10
COWN
Market Perform
QEP Resources initiated with a Market Perform at Cowen
Cowen started QEP Resources with a Market Perform rating and $10 price target.
12/06/18
SPHN
12/06/18
INITIATION
Target $12
SPHN
Equal Weight
QEP Resources initiated with an Equal Weight at Stephens
Stephens analysts Gail Nicholson and Drew Lipke began coverage of the E&P sector with a positive outlook, starting QEP Resources with an Equal Weight rating and $12 price target.
12/20/18
SOCO
12/20/18
DOWNGRADE
SOCO
Equalweight
QEP Resources downgraded to Equalweight from Overweight at Capital One
02/21/19
OPCO
02/21/19
NO CHANGE
OPCO
Outperform
Elliott may push for representation on QEP board, says Oppenheimer
Oppenheimer analyst Tim Rezvan tells investors in a research note that he expects a modest negative reaction on Thursday to QEP Resources' disappointing Q4 results, but also sees a bid from Elliott at $8.75 per share that should support QEP at the current level. Rezvan says he believes Elliott may make a push for representation and says investors should focus on March 14, the deadline to nominate directors to the board. He reiterates an Outperform rating.
BX Blackstone
$40.62

-0.1 (-0.25%)

04/15/19
SBSH
04/15/19
UPGRADE
Target $35
SBSH
Neutral
Citi upgrades Franklin Resources, Artisan to Neutral from Sell
Citi analyst William Katz upgraded both Franklin Resources (BEN) and Artisan Partners (APAM) to Neutral from Sell. The analyst raised his price target to $35 from $28 for the former and to $25 from $20 for the latter. Ahead of the Q1 earnings season, however, the analyst favors the Alternatives. His top picks are Och-Ziff Capital (OZM), Brookfield (BAM) and Blackstone (BX). Katz, though, is "tactically less negative" on the Traditional asset managers.
04/22/19
MSCO
04/22/19
NO CHANGE
Target $45
MSCO
Overweight
Blackstone price target raised to $45 from $40 at Morgan Stanley
Morgan Stanley analyst Michael Cyprys raised his valuation multiple on "sticky" management fee earnings at Blackstone and increased his price target on the stock to $45 from $40 following the company's announcement of plans to convert to a C-Corporation, stating that he believes the change from a partnership should unlock value by expanding the investor base that can participate. He believes multiple expansion should more than offset the expected 2%-5% hit to EPS over the next few years and 12%-13% longer-term hit from shifting to a corporate tax rate, said Cyprys, who keeps an Overweight rating on Blackstone shares.
01/02/19
SUSQ
01/02/19
UPGRADE
Target $31
SUSQ
Positive
Crocs upgraded to Positive at Susquehanna
As reported previously, Susquehanna analyst Sam Poser upgraded Crocs (CROX) to Positive from Neutral. The analyst cited the recent repurchase and conversion of Blackstone's (BX) preferred stock position as it removes a substantial financial overhang from the company's capital structure and shifts more control of the business into the hands of existing and potential shareholders. In addition, the business continues to accelerate as processes and products improve and the brand gains traction, said Poser, who raised his price target to $31 from $25 on Crocs shares.
04/23/19
SBSH
04/23/19
NO CHANGE
SBSH
Citi adds Blackstone to Focus List, removes Chubb and Pioneer Natural
Citi added Blackstone (BX) to its US Focus List on the belief that the shares have more room to run. Blackstone could have "materially more upside," especially considering its "best-in-class" business model and widespread investor appeal, the firm's North America Research team says in a note. It removed Chubb (CB) and Pioneer Natural Resources (PXD) from the US Focus List due to analyst departures.
WLL Whiting Petroleum
$22.74

-0.75 (-3.19%)

04/23/19
IFSG
04/23/19
DOWNGRADE
IFSG
Market Perform
Whiting Petroleum downgraded to Market Perform at IFS Securities
04/12/19
MSCO
04/12/19
DOWNGRADE
Target $31
MSCO
Equal Weight
Whiting Petroleum downgraded to Equal Weight after rally at Morgan Stanley
As previously reported, Morgan Stanley analyst Devin McDermott downgraded Whiting Petroleum to Equal Weight from Overweight following the stock's 32% year-to-date rally. The analyst, who sees a more balanced risk/reward for Whiting going forward, raised his price target on the shares to $31 from $28. More generally on the E&P group, he believes the combination of higher oil prices and disciplined capital budgets should begin to yield results and strong free cash flow across the sector.
04/12/19
MSCO
04/12/19
DOWNGRADE
MSCO
Equal Weight
Whiting Petroleum downgraded to Equal Weight from Overweight at Morgan Stanley
03/20/19
03/20/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Texas Roadhouse (TXRH) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying he thinks the company can deliver better than expected same-store sales and EPS growth as it implements a price increase at the beginning of Q2. 2. Cree (CREE) upgraded to Outperform from Market Perform at JMP Securities with analyst Joseph Osha stating he believes that he has been too conservative on the valuation front given his view that Cree "is positioned squarely at the center of some of the most interesting developments in the electronics business." 3. Nevro (NVRO) upgraded to Outperform from Market Perform at Wells Fargo with analyst Lawrence Biegelsen noting that incoming CEO Keith Grossman has successfully turned around the previous two companies he led and saying he is "highly confident" he will be successful in turning around Nevro. 4. Dollar Tree (DLTR) upgraded to Outperform from Market Perform at Telsey Advisory with analyst Joseph Feldman saying meetings with management gave him increased visibility and confidence in the company's plan and he believes Dollar Tree should see a return to earnings growth in the second half of 2019. 5. Whiting Petroleum (WLL) upgraded to Overweight from Equalweight at Capital One citing an increased oil price deck. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CPE Callon Petroleum
$7.62

-0.56 (-6.85%)

03/21/19
MSCO
03/21/19
INITIATION
Target $9
MSCO
Equal Weight
Morgan Stanley starts Callon Petroleum at Equal Weight with $9 price target
As previously reported, Morgan Stanley analyst Drew Venker initiated Callon Petroleum with an Equal Weight rating, stating that its top quartile margins, a consolidated acreage position, above-average well performance, and a track record of capitalizing on the industry's evolution are all supportive of a stronger valuation. However, Callon's drilling inventory is not as deep as its Permian peers' and it has higher leverage, said Venker, who sees a relatively balanced risk-reward at current levels. He set a $9 price target on Callon Petroleum shares.
03/21/19
MSCO
03/21/19
INITIATION
MSCO
Equal Weight
Callon Petroleum initiated with an Equal Weight at Morgan Stanley
03/20/19
SOCO
03/20/19
DOWNGRADE
SOCO
Equalweight
Callon Petroleum downgraded to Equalweight from Overweight at Capital One
Capital One downgraded Callon Petroleum to Equal Weight citing relative implied capital efficiency following Q4 earnings and oil/boe production guidance below expectations.
02/13/19
IMPC
02/13/19
NO CHANGE
Target $15
IMPC
Outperform
Callon Petroleum price target raised to $15 from $12 at Imperial Capital
Imperial Capital analyst Irene Haas raised her price target for Callon Petroleum to $15 after the company provided its 2019 outlook. Callon now expects to produce 39.5-41.5 Mboepd in 2019, implying 20% year-over-year production growth, Haas tells investors in a research note. She keeps an Outperform rating on the shares.

TODAY'S FREE FLY STORIES

ALTR

Altair

$41.54

0.37 (0.90%)

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$29.19

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AMBA

Ambarella

$46.20

-0.06 (-0.13%)

14:35
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Ambarella put volume heavy and directionally bearish »

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SPY

SPDR S&P 500 ETF Trust

$300.59

-0.09 (-0.03%)

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S&P 500

$0.00

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14:29
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SPDR S&P 500 ETF Trust

$300.57

-0.11 (-0.04%)

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$0.00

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LOGC

LogicBio Therapeutics

$12.55

0.41 (3.38%)

14:26
07/15/19
07/15
14:26
07/15/19
14:26
Conference/Events
LogicBio Therapeutics management to meet with Jefferies »

Meetings to be held in…

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  • 18

    Jul

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    Jul

QURE

uniQure

$68.66

-1.74 (-2.47%)

14:25
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Options
uniQure call volume above normal and directionally bullish »

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  • 30

    Jul

  • 09

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AVGO

Broadcom

$290.65

5.26 (1.84%)

, SYMC

Symantec

$21.78

-3.78 (-14.79%)

14:21
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07/15
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14:21
Periodicals
Broadcom still keen to find solution as Symantec bid stalls over price, FT says »

Broadcom's (AVGO)…

AVGO

Broadcom

$290.65

5.26 (1.84%)

SYMC

Symantec

$21.78

-3.78 (-14.79%)

03/08/13
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
07/15/19
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
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Technical Analysis
NYSE market internals summary »

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KKR

KKR

$26.49

-0.32 (-1.19%)

14:15
07/15/19
07/15
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Options
KKR put volume heavy and directionally bearish »

Bearish flow noted in KKR…

03/08/13
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  • 25

    Jul

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Fed funds futures are fractionally higher »

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FB

Facebook

$203.96

-0.945 (-0.46%)

, BTC

Bitcoin

$0.00

(0.00%)

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Mnuchin says Trump has cryptocurrency concerns, won't target a specific provider »

Asked about President…

FB

Facebook

$203.96

-0.945 (-0.46%)

BTC

Bitcoin

$0.00

(0.00%)

03/08/13
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  • 16

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C

Citi

$71.87

0.12 (0.17%)

14:11
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  • 15

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FB

Facebook

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  • 16

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FB

Facebook

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  • 16

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SCHW

Charles Schwab

$40.49

0.47 (1.17%)

14:05
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Options
Charles Schwab call volume above normal and directionally bullish »

Bullish option flow…

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  • 19

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CSGP

CoStar Group

$583.45

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  • 23

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HTGC

Hercules Capital

$12.96

-0.02 (-0.15%)

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  • 01

    Aug

GLPG

Galapagos

$170.88

25.21 (17.31%)

13:59
07/15/19
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13:59
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13:59
Downgrade
Galapagos rating change at Raymond James »

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  • 26

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LVMUY

LVMH

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  • 24

    Jul

SCHW

Charles Schwab

$40.49

0.47 (1.17%)

13:51
07/15/19
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Recommendations
Charles Schwab analyst commentary at Wells Fargo »

Wells says Schwab deal…

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  • 19

    Jul

  • 27

    Oct

AMC

AMC Entertainment

$9.45

(0.00%)

13:45
07/15/19
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Options
AMC Entertainment call volume above normal and directionally bullish »

Bullish option flow…

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  • 05

    Sep

SPY

SPDR S&P 500 ETF Trust

$300.31

-0.37 (-0.12%)

, SPX

S&P 500

$0.00

(0.00%)

13:43
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Periodicals
Trump ponders firing Commerce Secretary Wilbur Ross, NBC News says »

According to an earlier…

SPY

SPDR S&P 500 ETF Trust

$300.31

-0.37 (-0.12%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
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MDCO

The Medicines Co.

$36.65

-0.03 (-0.08%)

13:35
07/15/19
07/15
13:35
07/15/19
13:35
Options
Medicines Company put volume heavy and directionally bearish »

Bearish flow noted in…

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Wedge Partners
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