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A Look at E&P Stocks’ Rating Updates Last Week

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Nov. 20 2020, Updated 3:59 p.m. ET

Carrizo Oil & Gas

Carrizo Oil & Gas (CRZO) saw a target price cut by SunTrust Robinson Humphrey last week. SunTrust Robinson lowered CRZO’s target price to $35 from $36. A total of 71.4% of analysts have rated CRZO as a “buy,” and the remaining 28.6% have rated it as a “hold.”

CRZO’s average target price of $33.1 implies a ~36% upside from its current price level.

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Diamondback Energy

Diamondback Energy (FANG) saw a target price update last week. Raymond James raised FANG’s target price to $187.00 from $178.00. Diamondback Energy has seen several target price updates following its announcement that it would acquire Energen Corporation (EGN). For more details, read Wall Street Analysts’ Ratings after the Diamondback–Energen Deal.

A total of 93.3% of analysts have rated FANG as a “buy,” and the remaining 6.7% have rated it as a “hold.” FANG’s average target price of $165.4 implies a ~35% upside potential from its current price level.

Viper Energy Partners

Citigroup raised Viper Energy Partners (VNOM) to a “buy” from a “neutral,” which is equivalent to a “hold,” last week. It also increased VNOM’s target price to $42 from $36. VNOM, a mineral interest MLP, now has “buy” ratings from 100% of analysts surveyed by Reuters. The partnership’s average target price of $41.3 implies a ~4% upside potential from its current price level.

Centennial Resource Development

Jefferies initiated its coverage on Centennial Resource Development (CDEV) last week. Jefferies started with a “buy” on CDEV and assigned it a target price of $23. Now, 86.4% of analysts have rated CDEV as a “buy,” and the remaining 13.6% have rated it as a “hold.” CDEV is currently trading below the low range ($19) of analysts’ target price. Its average target price of $25.6 implies a ~36% upside from its current price level.

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