Barclays said it it reiterating its "Overweight" on EOG Resources (NYSE:EOG), citing "superior cash flow."
"Recent concerns have focused on capital spending, a lack of hedges and well performance rather than the strong cash flow growth that should drive performance. Superior cash flow growth should drive the shares higher. We expect cash flow to nearly double by 2012 vs. 2010 levels. This growth should far exceed peers' 30%," Barclays said.
EOG, which explores for, develops and produces crude oil and natural gas, closed Monday at $91.25, down $0.86, or 0.93 percent.
Barclays has a hefty price target of $155 on the energy company.
Showing posts with label Overweight. Show all posts
Showing posts with label Overweight. Show all posts
Tuesday, September 28, 2010
Monday, August 2, 2010
Barclays (NYSE:BCS) Maintains "Overweight" on Sunoco (NYSE:SUN)
Barclays (NYSE:BCS) kept its "Overweight" rating on Sunoco (NYSE:SUN), with a price target of $45.
"We think the market will view SUN's 2Q10 result favorably. Excluding special items, SUN reported a 2Q10 EPS of $1.31/share, compared to our forecast of $0.86/share and consensus estimate of $0.77/share. Echoing the rest of its peers, the beat came in refining, where margins were much stronger than expected," said Barclays.
"We raise our 2010 and 2011 EPS estimates for SUN to $1.95 and $2.30 per share from $1.15 and $1.70 per share, respectively."
The oil and gas industry continues to show great results for the quarter, many handily beating analysts' estimates.
This wasn't a surprise based on higher prices, and the refining margins weren't completely unexpected either, but led most oil companies to larger-than-expected profits.
The same happened with Sunoco.
Sunoco closed Friday at $35.67, a gain of $1.38, or 4.02 percent.
"We think the market will view SUN's 2Q10 result favorably. Excluding special items, SUN reported a 2Q10 EPS of $1.31/share, compared to our forecast of $0.86/share and consensus estimate of $0.77/share. Echoing the rest of its peers, the beat came in refining, where margins were much stronger than expected," said Barclays.
"We raise our 2010 and 2011 EPS estimates for SUN to $1.95 and $2.30 per share from $1.15 and $1.70 per share, respectively."
The oil and gas industry continues to show great results for the quarter, many handily beating analysts' estimates.
This wasn't a surprise based on higher prices, and the refining margins weren't completely unexpected either, but led most oil companies to larger-than-expected profits.
The same happened with Sunoco.
Sunoco closed Friday at $35.67, a gain of $1.38, or 4.02 percent.
Barclays (NYSE:BCS) Reiterates "Overweight" Rating on Exxon (NYSE:XOM)
Barclays PLC said it has maintained its "Overweight" rating on Exxon Mobil (NYSE:XOM), and has a price target of $81 on the stock.
"Despite a strong quarter, XOM lost 0.9% yesterday, compared to XLE's gain of 0.1% and S&P500 loss of 0.4%. We were surprised by the share's disappointing performance. XOM reported a headline EPS of $1.60/share, handsomely beating our estimate of $1.50/share and consensus of $1.46/share. Equally important, the company delivered a strong operating result," said the Barclays analyst.
"We raise our 2010 and 2011 EPS to $5.60 and $6.50 from $5.50 and $6.35 per share, respectively."
Exxon closed Friday a little below level, hitting $59.68, down 0.66, or 1.09 percent.
"Despite a strong quarter, XOM lost 0.9% yesterday, compared to XLE's gain of 0.1% and S&P500 loss of 0.4%. We were surprised by the share's disappointing performance. XOM reported a headline EPS of $1.60/share, handsomely beating our estimate of $1.50/share and consensus of $1.46/share. Equally important, the company delivered a strong operating result," said the Barclays analyst.
"We raise our 2010 and 2011 EPS to $5.60 and $6.50 from $5.50 and $6.35 per share, respectively."
Exxon closed Friday a little below level, hitting $59.68, down 0.66, or 1.09 percent.
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