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Wall Street Analysts’ Recommendations for Upstream Companies

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Wall Street analyst recommendations for upstream companies

In this final part, we’ll analyze Wall Street analysts’ recommendations for upstream companies active in the A&D (acquisitions and divestitures) market. These companies include asset buyers such as Range Resources (RRC), EOG Resources (EOG), and Occidental Petroleum (OXY), and asset sellers such as Chesapeake Energy (CHK), Southwestern Energy (SWN), and Denbury Resources (DNR).

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“Buy” recommendations

Range Resources has the most “buy” recommendations. Around 58% of Wall Street analysts rate Range Resources a “buy” and ~39% rate it a “hold.” Around 3% rate the stock a “sell.”

“Sell” recommendations

Denbury Resources has the most “sell” recommendations. Around 33% of Wall Street analysts rate Denbury Resources a “sell” and ~56% rate it a “hold.” Around 11% rate the stock a “buy.”

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Median target prices

Based on median target prices from Wall Street analysts, Range Resources has the most upside potential, and Denbury Resources has the least. The median price target on RRC is $48.42, which is ~33% higher than the November 25 closing price of $36.28. The median price target on DNR is $3.21, which is ~2% higher than the November 25 closing price of $3.15.

Energy ETFs

The Energy Select Sector SPDR ETF (XLE) invests at least 95% of its total assets in oil and gas equities from the S&P 500, whereas the Vanguard Energy ETF (VDE) invests in the broader energy market.

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