Several North American Oil & Gas Exploration And Production Companies Downgraded Amid Current Environment: Here's Why
Portfolio Pulse from Lekha Gupta
Bernstein analyst Bob Brackett has updated ratings for several North American oil & gas exploration and production companies. Hess Corp (HES) and ConocoPhillips (COP) maintain an Outperform rating with raised price targets. APA Corp (APA) and Kosmos Energy Ltd. (KOS) were downgraded to Market-Perform with reduced price targets. EOG Resources Inc (EOG) and Devon Energy Corp (DVN) were also downgraded to Market-Perform with lowered price targets.
October 17, 2023 | 7:29 pm
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POSITIVE IMPACT
ConocoPhillips maintains an Outperform rating with a raised price target of $143. The company is expected to perform well despite falling oil prices.
The analyst's positive outlook and raised price target for ConocoPhillips indicates a potential increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Hess Corp maintains an Outperform rating with a raised price target of $189. The company is expected to perform well despite falling oil prices.
The analyst's positive outlook and raised price target for Hess Corp indicates a potential increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
APA Corp was downgraded to Market-Perform with a reduced price target of $9.
The analyst's downgrade and reduced price target for APA Corp indicates a potential decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Devon Energy Corp was downgraded to Market-Perform with a lowered price target of $48.
The analyst's downgrade and lowered price target for Devon Energy indicates a potential decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
EOG Resources Inc was downgraded to Market-Perform with a lowered price target of $146.
The analyst's downgrade and lowered price target for EOG Resources indicates a potential decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Kosmos Energy Ltd. was downgraded to Market-Perform with a reduced price target of $50.
The analyst's downgrade and reduced price target for Kosmos Energy indicates a potential decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100