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CRC

California Resources

$6.39

-2.08 (-24.56%)

, BRY

Berry Petroleum

$8.89

-2.415 (-21.36%)

15:56
11/19/19
11/19
15:56
11/19/19
15:56

California Resources sees no significant impact from CA review, Bloomberg says

California Resources (CRC) said it sees no significant impact to its output from California's review, according to Bloomberg. Berry Petroleum (BRY) said earlier that the California moratorium will not impact the company's 2019 financial performance and only potentially impacts its future thermal diatomite wells.

CRC

California Resources

$6.39

-2.08 (-24.56%)

BRY

Berry Petroleum

$8.89

-2.415 (-21.36%)

CRC California Resources
$6.39

-2.08 (-24.56%)

04/12/19
GSCO
04/12/19
NO CHANGE
GSCO
Goldman downgrades California Resources, Chesapeake to Sell, upgrades Murphy
Within the Exploration and Production space, Goldman Sachs analyst Brian Singer recommends selling stocks where the valuation post recent rallies "appears at odds" with the company's competitive positioning. With that in mind, Singer downgraded both California Resources (CRC) and Chesapeake Energy (CHK) to Sell from Neutral. California Resources has a low decline rate and competitive supply cost but unfavorable debt cost that does not warrant the extent of its current valuation premium, says the analyst. For Chesapeake, Singer sees less favorable supply cost and corporate returns. The analyst also upgraded Murphy Oil (MUR) to Neutral from Sell. He believes the stock's current valuation appears more in line with its competitive positioning. Singer recommends buying "low cost oil suppliers" Encana (ECA), Parsley Energy (PE), Pioneer Natural (PXD) and EOG Resources (EOG) and Chevron (CVX).
05/13/19
RAJA
05/13/19
UPGRADE
RAJA
Outperform
California Resources upgraded to Outperform at Raymond James
05/13/19
05/13/19
UPGRADE
Target $30

Outperform
California Resources upgraded to Outperform on valuation at Raymond James
As previously reported, Raymond James upgraded California Resources to Outperform from Market Perform and $30 price target. Analyst Pavel Molchanov said regulatory fears are "overdone" and the sell-off in shares has created a "beaten-down" valuation.
08/05/19
IMPC
08/05/19
NO CHANGE
Target $20
IMPC
Outperform
California Resources price target lowered to $20 from $28 at Imperial Capital
Imperial Capital analyst Jason Wangler lowered his price target for California Resources to $20 from $28 saying the company's Q2 results were impacted by lower natural gas liquid prices. However, California Resources was able to remain near cash flow positive, adds the analyst, who keeps an Outperform rating on the shares.
BRY Berry Petroleum
$8.89

-2.415 (-21.36%)

05/23/19
SOCO
05/23/19
UPGRADE
SOCO
Overweight
Berry Petroleum upgraded to Overweight from Equalweight 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.
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.
11/19/19
KEYB
11/19/19
NO CHANGE
KEYB
Sector Weight
Berry Petroleum shares likely to react negatively to CA frack news, says KeyBanc
KeyBanc analyst Leo Mariani said he expects shares of Berry Petroleum react negatively to press reports that California Governor Gavin Newsom is halting the approval of permits for new wells that involve fracking or use high pressure steam for extraction. Mariani said the language around high pressure steam injection is "a bit ambiguous," noting that description would account for a very large percentage of all new wells in the state. He has a Sector Weight rating on Berry shares.

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AQUA

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Masco

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IBP

Installed Building Products

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Fortune Brands

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WHR

Whirlpool

$144.83

2.825 (1.99%)

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AWI

Armstrong World

$93.35

-0.87 (-0.92%)

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CIEN

Ciena

$36.30

-0.3 (-0.82%)

, FB

Facebook

$199.35

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RDY

Dr. Reddy's

$40.11

-0.03 (-0.07%)

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TOL

Toll Brothers

$40.90

0.79 (1.97%)

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PHM

PulteGroup

$40.19

0.79 (2.01%)

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MTH

Meritage Homes

$67.01

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LEN

Lennar

$59.82

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KBH

KB Home

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DHI

D.R. Horton

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SUM

Summit Materials

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MGTA

Magenta Therapeutics

$12.99

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ODT

Odonate Therapeutics

$33.29

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KNSA

Kiniksa

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AMED

Amedisys

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SNY

Sanofi

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  • 07

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