OAS upgraded to BUY by UBS
EOG upgraded to BUY by UBS
CLR downgraded to Outperform from Strong Buy by Raymond James*
ROSE downgraded to Underperform from Market Perform by Raymond James*
*Raymond James issued a report today reducing their oil price forecast to $65/bbl for 2013. IMHO OPEC will do whatever is necessary to support oil prices. They simply need the money too much to support their social programs to allow Brent to fall much further, but I could be wrong.
I am expecting very strong production growth this year from CLR and ROSE. OAS is on-track for 90% production growth this year. See our profile on EOG that was recently posted under the Sweet 16 tab.
Upgrades / Downgrades
Upgrades / Downgrades
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Upgrades / Downgrades
GPOR raised to BUY from HOLD by Stifel Nicolaus
PetroBakken raised to BUY by UBS (this one I really like now. I talked to the company and they confirmed strong production growth during the second half, primary from the Cardium light oil play.)
EXXI Cut to Outperform from Strong Buy by Raymond James (see note above)
PetroBakken raised to BUY by UBS (this one I really like now. I talked to the company and they confirmed strong production growth during the second half, primary from the Cardium light oil play.)
EXXI Cut to Outperform from Strong Buy by Raymond James (see note above)
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group