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BRY

Berry Petroleum

$10.23

-1.075 (-9.51%)

, HAL

Halliburton

$19.94

-0.21 (-1.04%)

14:49
11/19/19
11/19
14:49
11/19/19
14:49

CA governor stops approval of new fracking pending review, L.A. Times says

California Governor Gavin Newsom has blocked the approval of new hydraulic fracturing in the state until the permits for such projects can be examined by an independent panel of scientists, the Los Angeles Times' Phil Willon reports. The governor also placed a moratorium on new permits for steam-injected oil drilling in the state, another extraction method opposed by environmentalists that was linked to a major petroleum spill in Kern County last summer, Willon notes. "These are necessary steps to strengthen oversight of oil and gas extraction as we phase out our dependence on fossil fuels and focus on clean energy sources," Newsom said. "This transition cannot happen overnight; it must advance in a deliberate way to protect people, our environment, and our economy." Publicly traded companies in the fracking space include Berry Petroleum (BRY), Halliburton (HAL), Baker Hughes (BHGE), C&J Energy Services (CJ), Exxon Mobil (XOM), Chesapeake Energy (CHK), and Devon Energy (DVN). Reference Link

BRY

Berry Petroleum

$10.23

-1.075 (-9.51%)

HAL

Halliburton

$19.94

-0.21 (-1.04%)

BHGE

Ticker changed to BKR

$0.00

(0.00%)

CJ

C&J Energy Services

$0.00

(0.00%)

XOM

Exxon Mobil

$67.91

-0.6 (-0.88%)

CHK

Chesapeake

$0.56

-0.085 (-13.20%)

DVN

Devon Energy

$21.52

-0.44 (-2.00%)

  • 21

    Jan

BRY Berry Petroleum
$10.23

-1.075 (-9.51%)

12/20/18
SOCO
12/20/18
DOWNGRADE
SOCO
Equalweight
Berry Petroleum downgraded to Equalweight from Overweight at Capital One
05/23/19
SOCO
05/23/19
UPGRADE
SOCO
Overweight
Capital One upgrades 11 E&P companies to reflect more bullish stance
Exploration and Production equities have significantly lagged the price of oil over the past two years, which creates a "rather compelling" setup, Capital One analysts tell investors in a research note. The firm sees valuation support for the E&P sector with enterprise value to EBITDA multiples having "compressed significantly." It points out that its coverage universe currently has 50% upside to net asset value at the median. To reflect a more bullish stance on the sector, Capital One upgraded Bonanza Creek (BCEI), Berry Petroleum (BRY), Callon Petroleum (CPE), Marathon Oil (MRO), Noble Energy (NBL), Penn Virginia (PVAC), SM Energy (SM) and Cimarex Energy (XEC) to Overweight from Equal Weight. The firm also upgraded Comstock Resources (CRK), Laredo Petroleum (LPI) and W&T Offshore (WTI) to Equal Weight from Underweight. Capital One's price targets are as follows: Berry Petroleum - $44, Berry Petroleum - $18, Callon Petroleum - $13, Marathon Oil - $21, Noble Energy - $32, Penn Virginia - $75, SM Energy - $27, Cimarex Energy - $7, Laredo Petroleum - $5, W&T Offshore - $6.
05/23/19
SOCO
05/23/19
UPGRADE
SOCO
Overweight
Berry Petroleum upgraded to Overweight from Equalweight at Capital One
11/19/19
JRCO
11/19/19
DOWNGRADE
JRCO
Accumulate
Berry Petroleum downgraded to Accumulate from Buy at Johnson Rice
Johnson Rice downgraded Berry Petroleum to Accumulate from Buy.
HAL Halliburton
$19.94

-0.21 (-1.04%)

10/22/19
STFL
10/22/19
NO CHANGE
Target $26
STFL
Buy
Halliburton results and outlook included some underlying positives, says Stifel
Stifel analyst Stephen Gengaro noted that Halliburton's Q3 results missed his forecast, but he highlights a few underlying positives in the results and outlook, including the fact that Completion & Production (C&P) margins beat his forecast despite lower than expected revenue, the Q4 guidance for C&P further suggests a positive impact from Halliburton's new U.S. land playbook and the fact that the company is limiting capital spending and he believes it can achieve an annualized $300M in cost reductions over the next several quarters. Gengaro lowered his price target for Halliburton shares to $26 from $28 based on his revised 2020 EBITDA expectations but keeps a Buy rating on the stock, which he continues to see as undervalued.
10/22/19
COWN
10/22/19
NO CHANGE
Target $27
COWN
Outperform
Halliburton guidance better than feared, says Cowen
Cowen analyst Marc Bianchi noted Halliburton outpaced the group index with its Q3 results which saw a slight operational miss. The analyst said the Q4 guidance was better than feared and was positive on the new aggressive capacity rationalization and cost cutting program. He thinks the show of discipline is positive for the group and he expects similar commentary as others report however, he believes a bottom in activity needs to be more visible before a true inflection can occur. Bianchi maintained his Outperform rating and lowered his price target to $27 from $28 on Halliburton shares.
10/23/19
ARGS
10/23/19
DOWNGRADE
ARGS
Hold
Halliburton cut to Hold at Argus on weaker near-term outlook
Argus analyst Bill Selesky downgraded Halliburton to Hold and also lowered his FY19 EPS view to $1.26 from $1.42 after the company's Q3 results and FY20 EPS view to $1.50 from $2.22 from higher tax rate assumptions next year. The analyst sees a weaker near-term outlook for Halliburton as it faces pressure from rising crude oil inventories and moderating global demand. Selesky notes that the price of oil was driven higher thanks in part to the recent attacks on the Saudi infrastructure, but believes that it will decline in the near term.
10/23/19
ARGS
10/23/19
DOWNGRADE
ARGS
Hold
Halliburton downgraded to Hold from Buy at Argus
BHGE Ticker changed to BKR
$0.00

(0.00%)

09/11/19
STFL
09/11/19
NO CHANGE
Target $34
STFL
Buy
GE shrinking ownership positive news for Baker Hughes, says Stifel
Stifel analyst Stephen Gengaro noted that General Electric (GE) will cut its ownership stake in Baker Hughes (BHGE) to about 39.5% from 50.3% via Baker Hughes' repurchase of $250M of its Class B common stock and GE's secondary offering of 105M Class A shares. While he said Baker Hughes shares could weaken on the offering, Gengaro views this as positive news for the company, calling it a positive step towards removing the overhang of GE's ownership. He reiterated a Buy rating and $34 price target on Baker Hughes shares.
10/31/19
DBAB
10/31/19
NO CHANGE
Target $11
DBAB
Hold
General Electric price target raised to $11 from $9 at Deutsche Bank
Deutsche Bank analyst Nicole DeBlase raised her price target for General Electric to $11 from $9 saying the company's Q3 results had more positives than negatives. Although Power segment results disappointed, it was overshadowed by several key positives, including GE maintaining its full year earnings guidance despite a 5c per share headwind from the deconsolidation of Baker Hughes (BHGE). The company also raised full year Industrial free cash flow guidance by $1B, adds DeBlase. The analyst keeps a Hold rating on General Electric.
08/28/19
BOFA
08/28/19
DOWNGRADE
BOFA
Neutral
Nabors, Quintana Energy Services, Nine Energy cut to Neutral at BofA/Merrill
BofA/Merrill analyst Chase Mulvehill downgraded Nabors (NBR), Quintana Energy Services (QES), and Nine Energy Services (NINE) to Neutral from Buy in a broader research note, saying E&P companies are increasingly focused on efficiency gains. The analyst notes however that the technology adoption and service integration are still in the "early innings" of reducing capital intensity. Mulvehill adds that the rating change for these U.S. companies is driven by heightened global macro uncertainty and the resulting oil price volatility, stating that he prefers names with international exposure like Schlumberger (SLB) and Baker Hughes (BHGE).
06/06/19
JEFF
06/06/19
NO CHANGE
Target $32
JEFF
Buy
Baker Hughes remains a top large-cap pick at Jefferies
Jefferies analyst Brad Handler says Baker Hughes remains his top large-cap pick. The company's Middle East growth should benefit from recent awards and the ADNOC partnership, Handler tells investors in a research note. The analyst finds the shares "very attractive" post the selloff in the group. He keeps a Buy rating on Baker Hughes with a $32 price target.
CJ C&J Energy Services
$0.00

(0.00%)

08/20/19
JEFF
08/20/19
UPGRADE
JEFF
Buy
Jefferies says frac names' not all the same, upgrades C&J Energy to Buy
As previously reported, Jefferies analyst Brad Handler upgraded C&J Energy Services (CJ) to Buy from Hold, stating that he sees significant value in the planned combination with Keane Group (FRAC). While the market appears biased to assume regression-to-a-mean frac fleet profitability, he thinks continued differentiation makes more sense. He introduced new price target for Keane shares of $7.50 and for CJ of $13.50.
08/20/19
JEFF
08/20/19
UPGRADE
JEFF
Buy
C&J Energy Services upgraded to Buy from Hold at Jefferies
09/12/19
WELS
09/12/19
UPGRADE
WELS
Outperform
C&J Energy Services upgraded to Outperform from Market Perform at Wells Fargo
09/12/19
WELS
09/12/19
UPGRADE
Target $16
WELS
Outperform
C&J Energy Services upgraded to Outperform on Keane merger at Wells Fargo
As previously reported, Wells Fargo analyst Christopher Voie upgraded C&J Energy Services (CJ) to Outperform from Market Perform to account for his view of the merger of equals deal with Keane Group (FRAC). Voie raised his price target on C&J Energy shares to $16 from $13.
XOM Exxon Mobil
$67.91

-0.6 (-0.88%)

10/07/19
BREN
10/07/19
NO CHANGE
Target $63
BREN
Hold
Exxon Mobil price target lowered to $63 from $73 at Berenberg
Berenberg analyst Henry Tarr lowered his price target for Exxon Mobil saying last week's regulatory filing "again highlights weak quarterly earnings." The analyst keeps a Hold rating on the shares into Exxon Mobil's Q3 results.
10/31/19
10/31/19
DOWNGRADE

Hold
BP downgraded to Hold at Argus on rising debt levels
As previously reported, Argus analyst Bill Selesky downgraded BP (BP) to Hold from Buy. The analyst cites his concern with the company's current debt to capital ratio of 43%, which is well above those of ExxonMobil's (XOM) 18%, Chevron's (CVX) 18%, and Shell's (RDS.A) 32%. In a period of slower economic growth, Selesky says the elevated debt is a disadvantage and sees the company's less leveraged peers as better positioned in managing potentially lower energy prices. The analyst also lowers his FY19 and FY20 EPS views on BP by 38c and 40c to $2.94 and $3.38 respectively.
08/20/19
08/20/19
INITIATION

Market Perform
Exxon Mobil initiated with a Market Perform at BMO Capital
As previously reported, BMO Capital analyst Daniel Boyd started Exxon Mobil with a Market Perform rating and $86 price target. Boyd called the company's upstream portfolio "best-in-class" and noted that his estimates show growth and returns nearing positive inflection. However, the analyst is concerned about "the stock's path given risk to near-term guidance while the upside case requires confidence in 2025 guidance."
08/20/19
BMOC
08/20/19
INITIATION
Target $86
BMOC
Market Perform
Exxon Mobil initiated with a Market Perform at BMO Capital
BMO Capital analyst Daniel Boyd started Exxon Mobil with a Market Perform rating and $86 price target.
CHK Chesapeake
$0.56

-0.085 (-13.20%)

11/19/19
JRCO
11/19/19
DOWNGRADE
JRCO
Hold
Chesapeake downgraded to Hold from Accumulate at Johnson Rice
Johnson Rice downgraded Chesapeake to Hold from Accumulate.
11/13/19
MSCO
11/13/19
DOWNGRADE
Target $1.25
MSCO
Equal Weight
Morgan Stanley cuts Chesapeake to Equal Weight after 'going concern' warning
As previously reported, Morgan Stanley analyst Devin McDermott downgraded Chesapeake to Equal Weight from Overweight with a price target of $1.25, down from $2.25, after the company issued a "going concern" warning that it may exceed certain debt covenants within the next 12 months. He estimates Chesapeakes' leverage, excluding the "ring-fenced" Brazos Valley subsidiary, at 5.0 times on a rolling 12-month basis and while he expects the company to successfully manage through the potential covenant breach, it will likely require strategic action or waivers, said McDermott, who sees "a wide range" of potential outcomes.
11/13/19
MSCO
11/13/19
DOWNGRADE
Target $1.25
MSCO
Equal Weight
Chesapeake downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Devin McDermott downgraded Chesapeake to Equal Weight from Overweight with a $1.25 price target.
11/06/19
TUDR
11/06/19
DOWNGRADE
TUDR
Sell
Chesapeake downgraded to Sell from Hold at Tudor Pickering
Tudor Pickering analyst Sameer Panjwani downgraded Chesapeake to Sell from Hold.
DVN Devon Energy
$21.52

-0.44 (-2.00%)

08/08/19
MUFG
08/08/19
NO CHANGE
Target $36
MUFG
Neutral
Devon Energy price target raised to $36 from $33 at MUFG
MUFG analyst Michael McAllister raised his price target on Devon Energy to $36 after its Q2 earnings beat and raised FY19 production guidance for the second time this year. The analyst keeps his Neutral rating however, noting the company continues to seek a buyer for its Barnett Shale to focus its portfolio on "four assets". McAllister also sees Devon Energy's cost saving initiative proceeding ahead of schedule.
07/30/19
07/30/19
INITIATION
Target $33

Buy
Devon Energy initiated with a Buy at SunTrust
As previously reported, SunTrust analyst Neal Dingmann initiated Devon Energy with a Buy rating and $33 price target. The analyst cites the company's exposure to the "highest return" U.S. shale basins and believes consensus is undervaluing the incremental result from the high grading of assets following its $6.5B in divestiture. Following the recent closing of Canadian sale and a future potential Barnett sale, Dingmann contents that Devon will have "material cash" to use toward further share repurchases and a debt paydown.
10/10/19
GHSC
10/10/19
DOWNGRADE
GHSC
Neutral
Devon Energy downgraded to Neutral from Buy at Seaport Global
10/10/19
GHSC
10/10/19
DOWNGRADE
GHSC
Neutral
Seaport Global cuts Devon Energy to Neutral among 13 E&P downgrades
As previously reported, Seaport Global analyst Mike Kelly downgraded Devon Energy to Neutral from Buy. The rating change was among 13 downgrades made in the E&P sector by Kelly, who contends that "the 2020 oil macro set up is a mess." On Devon specifically, he thinks free cash flow "largely evaporates" in FY20 with oil near $50 per barrel. While "Delaware is the crown jewel and getting better," the fact that 55% of the company's position is on federal land will be an overhang, Kelly contends.

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$NSD

NASDAQ Market Internals

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15:15
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U.S. consumer credit surged a solid $18.9 B in October »

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JBSAY

JBS S.A.

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15:09
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JBS to redomicile headquarters as part of U.S. IPO, Reuters reports »

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IWM

iShares Trust Russell 2000 Index Fund

$162.91

1.96 (1.22%)

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Russell 2000 Index

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On The Fly: Weekly technical notes for Russell 2000 »

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IWM

iShares Trust Russell 2000 Index Fund

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1.96 (1.22%)

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Russell 2000 Index

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XLY

Consumer Discretionary Sector SPDR

$121.77

0.99 (0.82%)

, XLI

Industrial Select Sector SPDR

$81.11

0.975 (1.22%)

15:07
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On The Fly: Weekly technical notes for S&P 500 »

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XLY

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SPY

SPDR S&P 500 ETF Trust

$314.95

2.91 (0.93%)

SPX

S&P 500

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15:03
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15:03
General news
Consumer Credit data reported »

October Consumer Credit…

DIS

Disney

$147.99

0.52 (0.35%)

15:01
12/06/19
12/06
15:01
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15:01
Periodicals
Disney Japan apologizes for stealthy 'Frozen II' advertisements, NAR says »

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ICE

IntercontinentalExchange

$94.20

0.56 (0.60%)

14:56
12/06/19
12/06
14:56
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14:56
Periodicals
Regulators reject NYSE direct listing plan, Axios reports »

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CCS

Century Communities

$28.32

0.03 (0.11%)

14:46
12/06/19
12/06
14:46
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14:46
Conference/Events
Century Communities management to meet with Wedbush »

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  • 11

    Dec

14:45
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14:45
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Treasury Action: supply heats up with $78 B in coupons, »

Treasury Action: supply…

14:45
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14:45
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14:45
General news
Consumer Credit to be reported at 15:00 »

October Consumer Credit…

DIN

Dine Brands

$82.10

0.53 (0.65%)

14:44
12/06/19
12/06
14:44
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14:44
Conference/Events
Dine Brands management to meet with Wedbush »

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  • 10

    Dec

  • 11

    Dec

NBRV

Nabriva Therapeutics

$1.82

-0.025 (-1.36%)

14:43
12/06/19
12/06
14:43
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14:43
Conference/Events
Nabriva Therapeutics management to meet with Wedbush »

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  • 10

    Dec

ORLY

O'Reilly Automotive

$445.92

4.88 (1.11%)

14:42
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14:42
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14:42
Conference/Events
O'Reilly Automotive management to meet with Wedbush »

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  • 10

    Dec

NFLX

Netflix

$307.45

4.59 (1.52%)

14:38
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14:38
Periodicals
Netflix investing about $420M in local content in India, Bloomberg says »

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  • 09

    Dec

  • 10

    Dec

AMGN

Amgen

$233.76

0.32 (0.14%)

14:35
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14:35
Hot Stocks
Amgen confirms FDA approval of Avsola for same indications as Remicade »

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  • 07

    Dec

NXPI

NXP Semiconductors

$119.48

2.33 (1.99%)

, MRVL

Marvell

$24.23

0.79 (3.37%)

14:31
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NXP completes acquisition of Marvell's wi-fi and Bluetooth connectivity assets »

NXP Semiconductors (NXPI)…

NXPI

NXP Semiconductors

$119.48

2.33 (1.99%)

MRVL

Marvell

$24.23

0.79 (3.37%)

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  • 12

    Dec

  • 06

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GRFS

Grifols

$22.74

0.38 (1.70%)

14:20
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Grifols higher after new data show reduction in Alzheimer's progression »

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SPY

SPDR S&P 500 ETF Trust

$315.15

3.11 (1.00%)

14:20
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Size ratio spread package on Amex appears to adjust open positions »

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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14:16
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14:15
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14:15
General news
Treasury Action: yields are only modestly higher »

Treasury Action: yields…

GRFS

Grifols

$22.74

0.38 (1.70%)

14:12
12/06/19
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14:12
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14:12
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Grifols announces report of clinical trial results at CTAD conference »

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13:55
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13:55
General news
Action Economics Survey results: maybe it is cliche; but it's true -- Christmas came early »

Action Economics Survey…

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