Energy Prospectus

Stifel just sent me a detailed report on the Upstream Oil & Gas companies that they follow. Send me an email if you want to read the full report.

Here are the new price targets on the ones in our model portfolios. Keep in mind that Stifel does not cover them all.
Large-Caps
CLR $28
CXO $83 < We are publishing a profile on Concho today.
EOG $87
FANG $106
PE $19
PXD $215
XEC $70 < One of my Top Picks because they have a lot of unhedged gas and NGLs.

Mid-Caps
CPE $18.50
LPI $33.00
MTDR $16.00
PDCE $26.00
SM $4.00
TALO $18.00

They also list DVN and CDEV as two of their Top Picks. They are on my Watch List and Devon is a solid candidate to go back into our Sweet 16.

I am updating the Parsley Energy (PE) profile today. In addition to Stifel's increased price target, the following firms have published new reports on Parsley since August 17.

Cowen & Co on 8/17/20 with price target of $18.00
Barclays 8/21/20 with price target of $15.00
Morgan Stanley on 8/21/20 with price target of $14.00

Parsley is a pure play on the Permian Basin with ~187,000 BOE per day of production today with ~115,000 barrels of crude oil per day.
Operating cash flow s/b $1.1 to $1.2 Billion and about $500 million of FCF from operations.

For Concho Resources Inc (NYSE: CXO), Morgan Stanley upgraded the previous rating of Equal-Weight to the current rating Overweight. Concho Resources earned $1.13 in the second quarter, compared to $0.69 in the year-ago quarter. At the moment, the stock has a 52-week-high of $93.34 and a 52-week-low of $33.13. Concho Resources closed at $48.54 at the end of the last trading period.

Citigroup initiated coverage on EQT Corp (NYSE: EQT) with a Buy rating. The price target for EQT is set to $21.00. EQT earned $0.18 in the second quarter, compared to $0.09 in the year-ago quarter. At the moment, the stock has a 52-week-high of $17.96 and a 52-week-low of $4.21. EQT closed at $15.86 at the end of the last trading period.