Citing Magnum Hunter's (Amex:MHR) significant exposure to Marcellus shale and Eagle Ford trends, Canaccord Genuity maintained a "Buy" rating on them while raising their price target.
Canaccord sees Magnum having a solid 2011.
"We are increasingly constructive on the company’s management team and its relative growth potential in the Eagle Ford and Marcellus trends. In our view, Magnum Hunter is well positioned to outperform based on its leading exposure to the Eagle Ford oil trend and material catalysts (including three initial Eagle Ford well results, Eagle Ford JVs, two initial Marcellus wells, and midstream announcements)," said Canaccord.
Magnum closed Wednesday at $4.76, remaining the same as the prior trading session. Canaccord has a price target of $5.75 on them.
Showing posts with label Eagle Ford. Show all posts
Showing posts with label Eagle Ford. Show all posts
Thursday, October 28, 2010
Thursday, October 7, 2010
KeyBanc Launches Coverage on Pioneer (NYSE:PXD) with "Buy" Rating
Pioneer Natural Resources (NYSE:PXD) has had coverage initiated on them by KeyBanc, and there were started off with a "Buy," citing Spraberry and Eagle Ford.
"Manufacturing strong returns in the Spraberry...more to come. PXD has significant running room in the Spraberry with a huge inventory of more than 20,000 drilling locations in the play (- 800,000 net acres)...Eagle Ford operations just getting started...expecting a strong ramp. With a joint venture executed in mid-2010, we expect a significant increase in the drilling and completion of wells headed into 2011 and beyond ... Visible double-digit production growth, while spending within cash flow over the next three years (at least)," said KeyBanc.
Pioneer ended Wednesday's trading session at $69.54, adding $0.21, or 0.30 percent. KeyBanc started them off with a price target of $90, affording them a large amount of potential growth.
"Manufacturing strong returns in the Spraberry...more to come. PXD has significant running room in the Spraberry with a huge inventory of more than 20,000 drilling locations in the play (- 800,000 net acres)...Eagle Ford operations just getting started...expecting a strong ramp. With a joint venture executed in mid-2010, we expect a significant increase in the drilling and completion of wells headed into 2011 and beyond ... Visible double-digit production growth, while spending within cash flow over the next three years (at least)," said KeyBanc.
Pioneer ended Wednesday's trading session at $69.54, adding $0.21, or 0.30 percent. KeyBanc started them off with a price target of $90, affording them a large amount of potential growth.
Wednesday, September 15, 2010
Forest Oil (NYSE:FST) Upgraded by Barclays (NYSE:BCS)
Barclays upgraded Forest Oil (NYSE:FST) from "Equalweight" to "Overweight," with a price target of $40 on them, up from the prior price target of $38.
Short term, if Forest continues to be successful at Granite Wash, that should increase upside production for 2010 and 2011, while ongoing success at Eagle Ford and Nikanassin would contribute to longer term growth.
"Continued success in the Granite Wash could drive some upside to our production estimates in '10 and '11. Success in the Nikanassin play in Canada and Eagle Ford Shale could have a greater impact to the growth profile in 2012 and beyond," said Barclays.
Forest closed at $29.21 Tuesday, falling $0.14, or 0.48 percent.
Short term, if Forest continues to be successful at Granite Wash, that should increase upside production for 2010 and 2011, while ongoing success at Eagle Ford and Nikanassin would contribute to longer term growth.
"Continued success in the Granite Wash could drive some upside to our production estimates in '10 and '11. Success in the Nikanassin play in Canada and Eagle Ford Shale could have a greater impact to the growth profile in 2012 and beyond," said Barclays.
Forest closed at $29.21 Tuesday, falling $0.14, or 0.48 percent.
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