Sweet 16 Update - August 16

[dan_s]

The Sweet 16 Growth Portfolio spreadsheet has been updated and posted to the website under the Sweet 16 Tab:
> Tab 1 of the spreadsheet is a summary of the individual EPS and CFPS forecasts,
> Tab 2 shows my Fair Value Estimate compared to First Call's Price Target for each company as of 8-16-2014

The Sweet 16 pulled back about 1.5% last week, which isn't too bad in such a nervous market. The Sweet 16 is up 21.6% YTD compared to the S&P 500 Index, which is up just 5.8%.

One thing I watch carefully in the weeks after quarterly results come out are changes in First Call's price targets. Last week FC raised targets for 13 of 16. DVN, GPOR and RRC targets were down slightly.

FC targets for CXO, CLR and MTDR have moved above my Fair Value Estimates.

We have already updated our profiles for NFX, RRC, SM and WLL. You can download them from the website, just click on their logos under the Sweet 16 Tab. I am very bullish on SM and WLL. We should publish updated profiles on the rest of the Sweet 16 this month.

I am attending the EnerCom Conference in Denver this week. I will be meeting with the CEOs of a bunch of the companies we follow and I will be posting daily reports here.