DNR & GTE
Posted: Fri Oct 28, 2011 8:06 am
from the street.com
7 Top-Rated Energy Stocks With Upside
By Karvy Global 10/28/11 - 05:00 AM EDT
2. Gran Tierra Energy is a Canada-based upstream energy company owning oil and gas properties in Colombia, Argentina and Brazil.
Revenue almost doubled to $162 million during the second quarter of 2011, compared to $84 million in the same quarter last year, due to increased production and higher crude oil prices. Net income stood at $31.5 million vs. $17 million during the same period in 2010.
As of June 30, 2011, higher capital spending resulted in cash and cash equivalents of $211 million, compared to $355 million in the previous quarter.
"Several significant milestones were achieved in the second quarter of 2011, positioning the Company to achieve continued growth into the future. The completion of the Moqueta to Costayaco flow-line and initiation of production was a major achievement. This is the first time that an oil field in Colombia has been discovered and test production initiated with operations entirely supported by helicopter and without access by road, minimizing the environmental footprint of Gran Tierra Energy's operations at this early stage of development," commented, Dana Coffield, CEO.
Analysts expect the stock to gain around 47% over the next year, and it is trading at 10.5 times its estimated 2012 earnings. The stock has analyst buy ratings of 8
4. Denbury Resources is a U.S.-based oil and natural gas company. It is the largest oil and natural gas producer in the states of Mississippi and Montana, and holds major operating acreage in the Rocky Mountains and the Gulf Coast.
Denbury's oil and natural gas production averaged 64,919 boe/d during the second quarter of 2011 compared to 63,585 boe/d during the same quarter the prior year. Revenue grew 21% during the quarter, boosted by crude oil and natural gas production.
Adjusted net income increased 92% to $259 million, while adjusted operational cash flow was $398 million. The company's capital expenditure budget for 2011 increased to $1.35 billion, excluding acquisitions.
Gaining 22% in the last month, the stock is trading at 13.7 times its estimated 2011 earnings with 51% upside. It has a 74% buy rating.
7 Top-Rated Energy Stocks With Upside
By Karvy Global 10/28/11 - 05:00 AM EDT
2. Gran Tierra Energy is a Canada-based upstream energy company owning oil and gas properties in Colombia, Argentina and Brazil.
Revenue almost doubled to $162 million during the second quarter of 2011, compared to $84 million in the same quarter last year, due to increased production and higher crude oil prices. Net income stood at $31.5 million vs. $17 million during the same period in 2010.
As of June 30, 2011, higher capital spending resulted in cash and cash equivalents of $211 million, compared to $355 million in the previous quarter.
"Several significant milestones were achieved in the second quarter of 2011, positioning the Company to achieve continued growth into the future. The completion of the Moqueta to Costayaco flow-line and initiation of production was a major achievement. This is the first time that an oil field in Colombia has been discovered and test production initiated with operations entirely supported by helicopter and without access by road, minimizing the environmental footprint of Gran Tierra Energy's operations at this early stage of development," commented, Dana Coffield, CEO.
Analysts expect the stock to gain around 47% over the next year, and it is trading at 10.5 times its estimated 2012 earnings. The stock has analyst buy ratings of 8
4. Denbury Resources is a U.S.-based oil and natural gas company. It is the largest oil and natural gas producer in the states of Mississippi and Montana, and holds major operating acreage in the Rocky Mountains and the Gulf Coast.
Denbury's oil and natural gas production averaged 64,919 boe/d during the second quarter of 2011 compared to 63,585 boe/d during the same quarter the prior year. Revenue grew 21% during the quarter, boosted by crude oil and natural gas production.
Adjusted net income increased 92% to $259 million, while adjusted operational cash flow was $398 million. The company's capital expenditure budget for 2011 increased to $1.35 billion, excluding acquisitions.
Gaining 22% in the last month, the stock is trading at 13.7 times its estimated 2011 earnings with 51% upside. It has a 74% buy rating.