uploads/2018/10/ANR-3.png

Upstream Stocks: Rating Update for the Week Ending October 5

By

Updated

Chesapeake Energy 

Chesapeake Energy (CHK) saw a new coverage initiation at Morgan Stanley last week. Morgan Stanley started with a “neutral” rating on Chesapeake Energy, which is equivalent to “hold,” and assigned a target price of $5. Suntrust Robinson downgraded Chesapeake Energy to “hold” from “buy.” Overall, the company has seen six rating updates in the past six months including three downgrades, one upgrade, and two new coverage initiations.

Now, 60.0% of the analysts surveyed by Reuters rate Chesapeake Energy as a “hold,” 32.0% rate it as a “sell,” and 8.0% rate it as a “buy.” Currently, Chesapeake Energy is trading close to its average target price of $4.5.

Ring Energy

Seaport Global Securities downgraded Ring Energy (REI) to “neutral” from “buy.” Seaport Global Securities lowered Ring Energy’s target price to $12 from $20. Now, 90.0% of the analysts rate Ring Energy as a “buy,” while 10.0% rate it as a “hold.” Currently, Ring Energy is trading below the low range ($12) of analysts’ target price. The average target price of $16.3 offers ~100% upside from the current price levels.

ConocoPhillips

Goldman Sachs lowered ConocoPhillips (COP) to “neutral” from “buy.” RBC Capital downgraded ConocoPhillips to “sector perform,” which is equivalent to “hold.” Overall, ConocoPhillips has seen six rating updates over the past six months including three downgrades, one upgrade, and two new coverage initiations. Currently, 50.0% of the analysts surveyed by Reuters rate ConocoPhillips as a “buy,” 45.5% rate it as a “hold,” and 4.5% rate it as a “sell.” The company’s average target price of $82.5 implies ~5% upside from the current price levels.

For more coverage on the US Oil & Gas sector, visit Market Realist’s Oil Gas Coal Consumable Fuels page.

More From Market Realist