Goldman Sachs Lifts Oil Services Sector (APC, APA, CVX, COP, DVN, EOG, HES, PBR, SU)

Energy

Published: June 19, 2008 7:40 am

Last Updated: March 26, 2020 6:16 pm

We already noted how Goldman Sachs Group (NYSE: GS) has raised its average oil prices for the years ahead, but the firm has also raised its OIL SERVICES Sector ratings this morning to "Attractive" from "Neutral." Below are just some of the "BUY-Rated" stocks covered in this call with significant raised estimates:

Anadarko Petroleum Corp. (NYSE: APC)
Apache Corp. (NYSE: APA)
Chevron Corp. (NYSE: CVX)
ConocoPhillips (NYSE: COP)
Devon Energy Corp. (NYSE: DVN)
EOG Resources Inc. (NYSE: EOG)
Hess Corp. (NYSE: HES)
Petroleo Brasileiro S.A. (NYSE: PBR)
Suncor Energy Inc. (NYSE: SU)

The firm believes that $100.00 oil is reality. and is raising price targets by 12% on average with new price targets to reflect the high-end of its trading ranges with what it now sees as a 20% average upside for the Goldman Sachs "Buy-rated" stocks.

The firm had been recommending a strategy of "buy on pullbacks" but it notes that the pullbacks have been shorter and smaller than expected. The firm believes that the stocks could trade 5% to 10% lower in a correction scenario as of now, but also says it would view any weakness as temporary and would use it as a buying opportunity.

Jon C. Ogg
June 19, 2008

Travel Cards Are Getting Too Good To Ignore

Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.

We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.

It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.

We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.