Teekay Tankers Ltd. (NYSE: TNK), Weatherford (NYSE: WFT), Compass Minerals International, Inc. (NYSE: CMP), Enerplus Resources Fund (NYSE: ERF), Transatlantic Petroleum Limited (NYSE: TAT) and Range Resources (NYSE: RRC) had ratings and price targets on them adjusted by analysts.
Teekay Tankers Ltd. (TNK) had its price target lowered by Evercore Partners from $6.50 to $6.00. They have an “Overweight” rating on the company.
Weatherford (WFT) had its price target raised by Bank of America (NYSE:BAC) from $21.00 to $25.00. They have a “Buy” rating on the company.
Compass Minerals International, Inc. (CMP) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Underweight” rating. They have a price target of $66.00 on the company, down from $71.00.
Enerplus Resources Fund (ERF) was downgraded by Macquarie from an “Outperform” rating to a “Neutral” rating.
Transatlantic Petroleum Limited (TAT) was downgraded by Global Hunter Securities from an “Accumulate” rating to a “Neutral” rating.
Range Resources (RRC) was upgraded by Capital One to a “Neutral” rating.
Showing posts with label Range Resources. Show all posts
Showing posts with label Range Resources. Show all posts
Friday, February 10, 2012
Monday, October 18, 2010
Ticonderoga Launches Coverage on Range Resources (NYSE:RRC)
Ticonderoga Securities started its coverage of Range Resources (NYSE:RRC) off with a "Buy" rating and a price target of $45, citing strong growth from Marcellus Shale and natural gas price support at current levels.
"RRC is an independent exploration and production company largely weighted toward natural gas, which accounts for 84% of its proven reserve base. While more than half of RRC’s production currently comes from the Mid-Continent/Southwest region of the U.S., the company’s reserves, growth, and upside are dominated by its activities in the Appalachian Basin and its leverage to the developing Marcellus Shale...While we have yet to identify any short-term catalyst for natural gas markets we see little downside in gas prices from here. RRC’s valuation should be viewed as an attractive entry point, especially for longer-term investors."
No one can be exactly sure, but one possible catalyst which could drive gas prices down is the ongoing recession. If people aren't able to afford current prices or incremental increases in natural gas, they will rebel or simply not pay it. Either way it could hurt natural gas companies.
There's a reason many natural gas companies have been buying up oil assets.
Range Resources closed Friday at $37.59, gaining $0.28, or 0.75 percent.
"RRC is an independent exploration and production company largely weighted toward natural gas, which accounts for 84% of its proven reserve base. While more than half of RRC’s production currently comes from the Mid-Continent/Southwest region of the U.S., the company’s reserves, growth, and upside are dominated by its activities in the Appalachian Basin and its leverage to the developing Marcellus Shale...While we have yet to identify any short-term catalyst for natural gas markets we see little downside in gas prices from here. RRC’s valuation should be viewed as an attractive entry point, especially for longer-term investors."
No one can be exactly sure, but one possible catalyst which could drive gas prices down is the ongoing recession. If people aren't able to afford current prices or incremental increases in natural gas, they will rebel or simply not pay it. Either way it could hurt natural gas companies.
There's a reason many natural gas companies have been buying up oil assets.
Range Resources closed Friday at $37.59, gaining $0.28, or 0.75 percent.
Wednesday, October 13, 2010
Catalysts for EOG Resources (NYSE:EOG), Anadarko (NYSE:APC), Apache (NYSE:APA) and EnCana (NYSE:ECA)
Potential near-term catalysts in the large cap oil & gas sector concerning results from Anadarko Petroleum's (NYSE:APC), Newfield Exploration (NYSE:NFX), Occidental Petroleum (NYSE:OXY), EnCana (NYSE:ECA), Newfield Exploration (NYSE:NFX), Range Resources (NYSE:RRC), Apache (NYSE:APA) and EOG Resources (NYSE:EOG) have been released by Barclays (NYSE:BCS).
Barclays said, "The Barclays Capital E&P Potential Catalyst Watch highlights potential market-moving events for companies we cover and addresses laterals across the sector. The E&P Potential Catalyst Watch is available on Barclays Capital Live under Tom Driscoll's bookshelf."
Notable potential catalysts: (1) Results from Anadarko Petroleum's exploration wells in Brazil and Mozambique, (2) Results form Newfield Exploration appraisal wells in the Maverick Basin (Eagleford shale) along with 3Q results, (3) 3Q Earnings reports next week: Occidental Petroleum, EnCana, Newfield Exploration, Range Resources ...We recommend oil-oriented Apache and MEG, as well as EOG Resources (our top pick) with its focus on liquids assets and attractive valuation."
Barclays said, "The Barclays Capital E&P Potential Catalyst Watch highlights potential market-moving events for companies we cover and addresses laterals across the sector. The E&P Potential Catalyst Watch is available on Barclays Capital Live under Tom Driscoll's bookshelf."
Notable potential catalysts: (1) Results from Anadarko Petroleum's exploration wells in Brazil and Mozambique, (2) Results form Newfield Exploration appraisal wells in the Maverick Basin (Eagleford shale) along with 3Q results, (3) 3Q Earnings reports next week: Occidental Petroleum, EnCana, Newfield Exploration, Range Resources ...We recommend oil-oriented Apache and MEG, as well as EOG Resources (our top pick) with its focus on liquids assets and attractive valuation."
Monday, September 13, 2010
Barclays (NYSE:BCS) Recommends EOG (NYSE:EOG), QEP (NYSE:QEP), MEG (TSE:MEG)
Barclays (NYSE:BCS) weighed in on who they like in the energy sector, and the top company in their mind is EOG Resources (NYSE:EOG), followed by QEP Resources (NYSE:QEP) and MEG Energy (TSE:MEG).
They said about EOG, "Buy EOG Resources (NYSE:EOG) before the conference begins. US Oil volumes projected to rise - 70 percent (mid-point) by Q4. If EOG can support the aggressive forecast by convincing investors Eagleford well results have been in line then shares could rally. Impressive oil growth estimates of - 49%/70% in 2010E/2011E - EOG has first mover advantage in oil shales. Historic multiple of 2012 forecasts suggest share price rise of 50 percent higher by mid-2011."
Concerning MEG and QEP, Barclays said the low liquidity levels of the two companies have resulted in low investor interest in them. They believe if trading volume picks up on them soon they should do well.
Barclays said companies to stay away from include Ultra Petroleum (NYSE:UPL), Southwestern Energy (NYSE:SWN) and Range Resources (NYSE:RRC)
They said about EOG, "Buy EOG Resources (NYSE:EOG) before the conference begins. US Oil volumes projected to rise - 70 percent (mid-point) by Q4. If EOG can support the aggressive forecast by convincing investors Eagleford well results have been in line then shares could rally. Impressive oil growth estimates of - 49%/70% in 2010E/2011E - EOG has first mover advantage in oil shales. Historic multiple of 2012 forecasts suggest share price rise of 50 percent higher by mid-2011."
Concerning MEG and QEP, Barclays said the low liquidity levels of the two companies have resulted in low investor interest in them. They believe if trading volume picks up on them soon they should do well.
Barclays said companies to stay away from include Ultra Petroleum (NYSE:UPL), Southwestern Energy (NYSE:SWN) and Range Resources (NYSE:RRC)
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