Energy
Goldman Sachs Major Oil Changes (APA, FST, KWK, KGS, EP, XOM, FTO, HES, MUR, OXY, CVX)
Published:
Last Updated:
Goldman Sachs this morning made some significant "Super-Spike" era calls where it said oil could reach $135 per barrel and noted up to $4.50 per gallon of gasoline at the pump for you and me, although its actual base targets are not at that level. It has hiked integrated oil earnings estimates and maintaining "Attractive Ratings" on the sector to include exploration and production. 2008 and 2009 estimates have been raised for oil services and deepwater drillers, and made the following price base price assumptions for oil per barrel and natural gas ($/MMBtu):
- 2008 $80.00/$8.50
- 2009 $90.00/$10.00
- 2010 $80.00/$8.50
- 2011 $75.00/$7.50
Oil Services estimates raised 6% in 2008 and 16% 2009. Estimates unchanged for offshore drillers due to high contract coverage in deepwater markets and increasing uncontracted supply in the shallow water market. Increased price targets by 7% on average for oil service stocks and by 5% on average for deepwater levered drillers.
Even after Apache Corp. (NYSE:APA) was raised to Buy last week, Goldman Sachs is adding it to the CONVICTION BUY LIST, replaces Forest Oil Corp. (NYSE:FST) on the list.
Quicksilver Resources (NYSE:KWK) continued as Buy/Attractive as performed well since announcing asset sales last week.
QuickSilver Gas Services L.P. (KGS) started as Buy with a $27 target over 12 months.
Other estimates increased (partial list): El Paso (EP), Exxon Mobil (XOM), Frontier Oil (FTO), Hess (HES), Marathon Oil (MRO), Murphy Oil (MUR), Newfield Exploration (NFX), Occidental Petroleum (OXY), Petro-Canada (PCZ), Suncor Energy (SU), Sunoco (SUN), Canadian Natural Resources (CNQ), Chevron (CVX), Apache (APA).
Jon C. Ogg
September 17, 2007
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
