CLR and EOG upgraded by BofA Equity Research - July 22

[dan_s]

"We remain fully transparent on our approach to valuing the US oils: we maintain that value is an outcome of sustainable free cashflow, defined by portfolio depth, sustaining capital intensity and the breakeven oil price. Free cash yield is an outcome when combined with portfolio depth defines absolute value where the multiple is the output. At our long term oil price deck, we continue to view the broader sector as undervalued with our top ideas paced by rate of change & catalysts led by XOM, OXY, HES, APA and FANG. But with no material change in the commodity outlook two names exemplify the dislocation we believe has occurred vs share performance – EOG & CLR, both are upgraded to Buy from Neutral. We update our income rating from 9 (pays no cash dividend) to 8 (same/lower) as CLR has reinstated dividends."

[Fraser921]

Someone came out with an underweight on Clr the other day

Totally inexplicable

Ng closed over 4 today and they are mostly unhedged.

[dan_s]

On any given day the Wall Street Gang can do the exact opposite of what makes sense. Oil and gas prices up again today and OVV was the only Sweet 16 stock up on the day.