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What Does Wall Street Think of COG, MRO, EQT, and EGN?

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Recent Wall Street ratings

In this series, we’ve looked at recent equity offerings of several upstream energy companies. In this final part of the series, we’ll look at recent Wall Street ratings for Cabot Oil & Gas (COG), Marathon Oil (MRO), EQT (EQT), and Energen (EGN).

What Does Wall Street Think of COG, MRO, EQT, and EGN?

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Recent recommendations for Cabot Oil & Gas

For COG, the most recent recommendation of “outperform” comes from BMO Capital Markets, issued on March 24, 2016. It assigned COG a target price of $30, which is ~40% higher than the March 23, 2016, closing price of $21.47.

The median price target for COG is $24.80, which is ~16% higher than the March 23, 2016, closing price of $21.47.

Recent recommendations for Marathon Oil

On March 24, 2016, BMO Capital Markets reiterated its “market perform” recommendation for MRO. On a 12-month time frame, BMO Capital Markets assigned MRO a target price of $10, which is ~2% lower than the March 23, 2016, closing price of $10.19.

The median analyst price target for MRO is $13.50, which is ~32% higher than the March 23, 2016, closing price of $10.19.

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Recent recommendations for EQT

For EQT, the most recent recommendation of “outperform” comes yet again from BMO Capital Markets, issued on March 24, 2016. It assigned EQT a target price of $80, which is ~27% higher than the March 23, 2016, closing price of $63.05.

The median price target for EQT is $73.32, which is ~16% higher than the March 23, 2016, closing price of $63.05.

Recent recommendations for Energen

On March 24, 2016, BMO Capital Markets reiterated its “market perform” recommendation for EGN. On a 12-month time frame, BMO Capital Markets assigned EGN a target price of $30, which is ~9% lower than the March 23, 2016, closing price of $32.93.

The median price target for EGN is $37.68, which is ~14% higher than the March 23, 2016, closing price of $32.93.

Other upstream players

Based on the median price target recommendations of Wall Street analysts, let’s compare some other upstream players’ potential upsides from their closing prices on March 23, 2016.

The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies. The Vanguard Energy ETF (VDE) invests in the broader energy market.

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