Raymond James cuts PT on oil and gas producers

Crescent Energy

21/10/2024 14:03

** Brokerage Raymond James cuts PT on several U.S. oil and
gas producers ahead of third-quarter results
    ** "Commodity price volatility has been center stage the
past few months...the result, was a sluggish quarter in terms of
stock performance with the E&P Index matching WTI during the
quarter, down 7%," Raymond James says
    ** Brokerage says APA Corp  APA.O , Antero Resources  AR.N 
and Crescent Energy  CRGY.N  are among the names that appear
differentiated relative to Wall Street expectations
    ** Sees potential production upside with Devon Energy
 DVN.N  and Permian Resources  PR.N  
    ** Here are the PT cuts made by the brokerage
    
 Company               New PT      Old PT
 Antero Resources      $34         $40
  AR.N                             
 APA Corp  APA.O       $46         $48
 Conocophillips        $147        $161
  COP.N                            
 Coterra Energy        $31         $34
  CTRA.N                           
 Devon Energy  DVN.N   $54         $61
 Diamondback Energy    $232        $263
  FANG.O                           
 EOG Resources         $156        $157
  EOG.N                            
 Marathon Oil  MRO.N   $34         $42
 Occidental Petroleum  $77         $85
  OXY.N                            
 Permian Resources     $24         $19
  PR.N                             
 
 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))