Goldman Sachs, which has been bullish on oil all year and sees prices hitting $80 a barrel this summer, also has some favorite picks among U.S. oil stocks.
“We project Brent will sustain $75-$80/b over the next 18 months in our financial models, enabling deleveraging and improved returns,” Goldman Sachs energy analyst Neil Mehta said this week in a note carried by Yahoo Finance.
Mehta is bullish on Occidental (OXY), Exxon, and Ovintiv (OVV) as “turnaround stories.” Goldman’s analyst also sees Diamondback Energy (FANG) , ConocoPhillips, EQT Corporation (EQT), Pioneer Natural Resources (PXD), and Devon Energy (DVN) as mergers and acquisitions (M&A) winners.
Goldman Sachs likes OVV, FANG, EQT, PXD and DVN - July 7
Goldman Sachs likes OVV, FANG, EQT, PXD and DVN - July 7
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group