Showing posts with label Plains Exploration. Show all posts
Showing posts with label Plains Exploration. Show all posts
Friday, October 12, 2012
EnCana (ECA) (EMR) (FE) (NTi) (PXP) (WR) Ratings Initiations
EnCana Co. (ECA), Emerson Electric Co. (EMR), FirstEnergy Corp. (FE), Northern Tier Energy (NTi), Plains Exploration & Production Company (PXP) and Westar Energy, Inc. (WR) had ratings on them initiated by analysts.
National Bank initiated coverage on EnCana Co. (ECA). They have a "Sector Perform" rating and price target of $23.00 on the company.
Deutsche Bank initiated coverage on Emerson Electric Co. (EMR). They have a "Hold" rating and price target of $53.00 on the company.
Goldman Sachs initiated coverage on FirstEnergy Corp. (FE). They have a "Neutral" rating and price target of $44.00 on the company.
Deutsche Bank (DB) initiated coverage on Northern Tier Energy (NTi). They have a "Buy" rating and price target of $25.00 on the company.
BMO Capital Markets initiated coverage on Plains Exploration & Production Company (PXP). They have a "Outperform" rating and price target of $45.00 on the company.
Ladenburg Thalmann initiated coverage on Westar Energy, Inc. (WR). They have a "Neutral" rating and price target of $31.50 on the company.
Wednesday, July 25, 2012
Gas Fracking Study from University of Texas Under Review
Saying "We believe that the research meets our standards, but it is important to let an outside group of experts take an independent look," University of Texas at Austin provost and executive vice president, Steven Leslie, said a group of independent experts will review a study which concluded there is no evidence hydraulic fracturing causes groundwater contamination.
The study was released, appropriately enough, under this title: "New Study Shows No Evidence of Groundwater Contamination from Hydraulic Fracturing."
Why the review is being conducted is because Dr.Charles Groat, who is associate director of the Energy Institute - which released the report - didn't disclose he sat on the board of Plains Exploration & Production Co. (PXP) since 2007.
According to university spokesman Gary Rasp, none of the $270,000 cost of the report came from sources in the energy industry.
Fracking is a process where treated water and sand is pushed underground to break up the rock holding gas in order to release the gas within them.
The report from University of Texas at Austin said there is no evidence that the fluids used in the procedure are contaminating the underground water.
The study was released, appropriately enough, under this title: "New Study Shows No Evidence of Groundwater Contamination from Hydraulic Fracturing."
Why the review is being conducted is because Dr.Charles Groat, who is associate director of the Energy Institute - which released the report - didn't disclose he sat on the board of Plains Exploration & Production Co. (PXP) since 2007.
According to university spokesman Gary Rasp, none of the $270,000 cost of the report came from sources in the energy industry.
Fracking is a process where treated water and sand is pushed underground to break up the rock holding gas in order to release the gas within them.
The report from University of Texas at Austin said there is no evidence that the fluids used in the procedure are contaminating the underground water.
Wednesday, February 8, 2012
BP (BP) (PXP) (NOR) (LPX) (SJM) (PEET) Ratings and Price Targets
BP Plc (NYSE:BP), Plains Exploration (NYSE:PXP), Noranda Aluminum (NYSE:NOR), Louisiana-Pacific (NYSE:LPX), J.M. Smucker (NYSE:SJM) and Peet’s Coffee & Tea (NASDAQ:PEET) had ratings and price targets on them adjusted by analysts.
Plains Exploration (PXP) was upgraded by Susquehanna from a "Neutral" rating to a "Positive" rating.
BP Plc (BP) was downgraded by Société Générale from a "Buy" rating to a "Hold" rating.
Noranda Aluminum (NOR) was downgraded by Bank of America (NYSE:BAC) from a "Buy" rating to a "Neutral" rating.
Louisiana-Pacific (LPX) was downgraded by UBS (NYSE:UBS) from a "Neutral" rating to a "Sell" rating.
KeyBanc Capital initiated coverage on J.M. Smucker (SJM). They have a "Buy" rating and price target of $95.00 on the company.
KeyBanc Capital initiated coverage on Peet’s Coffee & Tea (PEET). They have a "Buy" rating and price target of $80.00 on the company.
Plains Exploration (PXP) was upgraded by Susquehanna from a "Neutral" rating to a "Positive" rating.
BP Plc (BP) was downgraded by Société Générale from a "Buy" rating to a "Hold" rating.
Noranda Aluminum (NOR) was downgraded by Bank of America (NYSE:BAC) from a "Buy" rating to a "Neutral" rating.
Louisiana-Pacific (LPX) was downgraded by UBS (NYSE:UBS) from a "Neutral" rating to a "Sell" rating.
KeyBanc Capital initiated coverage on J.M. Smucker (SJM). They have a "Buy" rating and price target of $95.00 on the company.
KeyBanc Capital initiated coverage on Peet’s Coffee & Tea (PEET). They have a "Buy" rating and price target of $80.00 on the company.
Wednesday, October 20, 2010
Brigham (Nasdaq:BEXP), Carrizo (Nasdaq:CRZO), GeoResources (Nasdaq:GEOI), Harvest (NYSE:HNR), Plains (NYSE:PXP), Venoco (NYSE:VQ), Ultra (NYSE:UPL) T
Long term, Global Hunter likes the natural gas sector, and said prices may rebound sooner than believed by most. Top picks in the sector by Hunter include Brigham Exploration (Nasdaq:BEXP), Carrizo Oil & Gas (Nasdaq:CRZO), GeoResources (Nasdaq:GEOI), Harvest Natural Resources (NYSE:HNR), Plains Exploration (NYSE:PXP), Venoco Inc. (NYSE:VQ) and Ultra Petroleum (NYSE:UPL).
"We are not 'throwing out the baby with the bath water' although we are reducing our natural gas price forecast. We are doing this to be conservative to the strip as we like to “sell the downside” and revise estimates up. In fact, for the first time since 1Q10, we are becoming more optimistic about natural gas prices in the future. It is our opinion that oil may be the best thing to happen to natural gas since the Natural Gas Wellhead Decontrol Act of 1989 was inked that deregulated natural gas prices. By this, we mean that the technology that generated an overabundance of natural gas is now migrating to potentially better economic unconventional oil reservoirs. Given the relative value per MMBtu, we believe it will be likely difficult for human, financial, and oilfield service assets to migrate back to natural gas drilling if these oily projects are economically viable. In other words, the mechanism for bursting the new gas bubble may now be in place as long as a disparity exists between U.S. natural gas prices and global crude prices. And, much like the early 1990s, it is not likely to be a one or two quarter fix. However, natural gas price recovery could occur in 2H11 if operators curb natural gas spending and there remains an increasing focus on liquids rich projects," said Global.
"We are adjusting our 2010 oil and gas prices from $77.32 to $77.84 per barrel and from $4.66 to $4.41 per Mcf, respectively. We are also altering our 2011 oil and gas prices from $79.77 to $81.10 per barrel and $5.34 to $4.35 per Mcf, respectively. Further, although we are maintaining our $80 long term oil price deck, we are reducing our long term natural gas price deck to $5.50 from $6.00 per Mcf given the forward curve of natural gas and our forecast, that under the current cost structure of the industry, natural gas needs to be between $5.50 and $6.00 in order to keep the market balanced."
Companies Global Hunter said they're maintaining "Buy" ratings on, which incude some of their top picks above, are Berry Petroleum (NYSE:BRY), Brigham Exploration, Callon Petroleum (NYSE:CPE), Carrizo Oil & Gas, Clayton Williams Energy (Nasdaq:CWEI), Comstock Resources (NYSE:CRK), Endeavour International (NYSE:END), GeoResources, Harvest Natural Resources, PDC Energy (Nasdaq:PETD), PetroQuest Energy (NYSE:PQ), Plains Exploration & Production, Venoco Inc., Whiting Petroleum (NYSE:WLL), and Ultra Petroleum.
Natural gas companies ratings downgraded by Global are Chesapeake Energy (NYSE:CHK), Continental Resources (NYSE:CLR), Crimson Exploration (Nasdaq:CXPO), Range Resources (NYSE:RRC), Rosetta Resources (Nasdaq:ROSE), Southwestern Energy (NYSE:SWN), and TransAtlantic Petroleum (NYSE:TAT). All of them were cut from "Buy" to "Accumulate."
There is no doubt natural gas companies could be among the best buys at this time, being out of favor because of the extraordinary amount of supply, but this is definitely a buying opportunity for those doing their homework and investing in solid companies at great prices.
"We are not 'throwing out the baby with the bath water' although we are reducing our natural gas price forecast. We are doing this to be conservative to the strip as we like to “sell the downside” and revise estimates up. In fact, for the first time since 1Q10, we are becoming more optimistic about natural gas prices in the future. It is our opinion that oil may be the best thing to happen to natural gas since the Natural Gas Wellhead Decontrol Act of 1989 was inked that deregulated natural gas prices. By this, we mean that the technology that generated an overabundance of natural gas is now migrating to potentially better economic unconventional oil reservoirs. Given the relative value per MMBtu, we believe it will be likely difficult for human, financial, and oilfield service assets to migrate back to natural gas drilling if these oily projects are economically viable. In other words, the mechanism for bursting the new gas bubble may now be in place as long as a disparity exists between U.S. natural gas prices and global crude prices. And, much like the early 1990s, it is not likely to be a one or two quarter fix. However, natural gas price recovery could occur in 2H11 if operators curb natural gas spending and there remains an increasing focus on liquids rich projects," said Global.
"We are adjusting our 2010 oil and gas prices from $77.32 to $77.84 per barrel and from $4.66 to $4.41 per Mcf, respectively. We are also altering our 2011 oil and gas prices from $79.77 to $81.10 per barrel and $5.34 to $4.35 per Mcf, respectively. Further, although we are maintaining our $80 long term oil price deck, we are reducing our long term natural gas price deck to $5.50 from $6.00 per Mcf given the forward curve of natural gas and our forecast, that under the current cost structure of the industry, natural gas needs to be between $5.50 and $6.00 in order to keep the market balanced."
Companies Global Hunter said they're maintaining "Buy" ratings on, which incude some of their top picks above, are Berry Petroleum (NYSE:BRY), Brigham Exploration, Callon Petroleum (NYSE:CPE), Carrizo Oil & Gas, Clayton Williams Energy (Nasdaq:CWEI), Comstock Resources (NYSE:CRK), Endeavour International (NYSE:END), GeoResources, Harvest Natural Resources, PDC Energy (Nasdaq:PETD), PetroQuest Energy (NYSE:PQ), Plains Exploration & Production, Venoco Inc., Whiting Petroleum (NYSE:WLL), and Ultra Petroleum.
Natural gas companies ratings downgraded by Global are Chesapeake Energy (NYSE:CHK), Continental Resources (NYSE:CLR), Crimson Exploration (Nasdaq:CXPO), Range Resources (NYSE:RRC), Rosetta Resources (Nasdaq:ROSE), Southwestern Energy (NYSE:SWN), and TransAtlantic Petroleum (NYSE:TAT). All of them were cut from "Buy" to "Accumulate."
There is no doubt natural gas companies could be among the best buys at this time, being out of favor because of the extraordinary amount of supply, but this is definitely a buying opportunity for those doing their homework and investing in solid companies at great prices.
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