| Despite Tough Macros, Only Ultra, Gastar And Chesapeake Face Potential Credit Issues Before 2018 | |
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There’s no question it has been a tough couple of years for oil & gas E&P stocks, but a new report by Sterne Agee CRT analyst Tim Rezvan suggests that things may not be as bad as the market fears for many companies.
Rezvan sees battered stocks Oasis Petroleum (NYSE: OAS) and Whiting Petroleum Corp (NYSE: WLL) as extremely oversold at this point. After taking a close look at the liquidity positions of the E&P names under coverage, he concludes that only Ultra Petroleum Corp. (NYSE: UPL), Gastar Exploration Inc (NYSE: GST) and Chesapeake Energy Corporation (NYSE: CHK) face potential credit issues prior to 2018.
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“Oasis and Whiting, on the other hand, maintain strong liquidity, despite sharp equity underperformance since ’15 that suggests otherwise, and can withstand the inevitable reduction in credit facilities we expect this spring from lending banks feeling stress in their energy loan portfolios,” Rezvan explained.
The firm has Buy ratings on Whiting and Oasis and Neutral ratings on Ultra, Chesapeake and Gastar.
Disclosure: the author owns shares of Whiting Petroleum.
Latest Ratings for OAS
Date | Firm | Action | From | To |
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Jan 2016 | Deutsche Bank | Maintains | | Hold | Jan 2016 | Nomura | Maintains | | Neutral | Jan 2016 | Citigroup | Upgrades | Sell | Neutral |
View More Analyst Ratings for OAS
View the Latest Analyst Ratings
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Ultra Petroleum Inc
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CODE : UPL |
ISIN : CA9039141093 |
CUSIP : 903914109 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Ultra Petroleum is a oil producing company based in United states of america. Ultra Petroleum is listed in Germany and in United States of America. Its market capitalisation is US$ 26.6 millions as of today (€ 23.6 millions). Its stock quote reached its highest recent level on June 13, 2008 at US$ 99.39, and its lowest recent point on August 07, 2019 at US$ 0.11. Ultra Petroleum has 197 100 000 shares outstanding. |