Oil Majors estimates increased (greatly)
Thursday April 6, 4:03 pm Eastern Time
RESEARCH ALERT - Oil company earnings estimates raised
NEW YORK, April 6 (Reuters) - Goldman, Sachs & Co. said Thursday analyst Arjun Murti has raised the 2000 earnings per share estimates for several oil companies as follows:
-- Amerada Hess Corp. (NYSE:AHC - news) to $7.56 from $4.15 and 2001 EPS estimate to $2.77 from $2.61, the stock is rated a Market Performer.
-- Chevron Corp (NYSE:CHV - news) to $5.97 from $4.67, the stock is rated a Market Outperformer.
-- Conoco Inc. (NYSE:COCa - news) to $2.25 from $1.59, the stock is rated a Market Performer.
-- Exxon Mobil Corp. (NYSE:XOM - news) to $3.79 from $3.44, the shares are on the U.S. Recommended for Purchase List.
-- Occidental Petroleum Corp. (NYSE:OXY - news) to $2.63 from $1.57, the stock is rated a Market Performer.
-- Phillips Petroleum Co. (NYSE:P - news) to $4.88 from $2.77, the stock is rated a Market Performer.
-- Royal Dutch U.S. shares (NYSE:RD - news) to $3.52 from $2.63, the stock is rated a Market Outperformer.
-- Shell Transport & Trading (quote from Yahoo! UK & Ireland: SHEL.L) ADRs (NYSE:SC - news) to $3.04 from $2.27, the stock is rated a Market Outperformer.
-- Texaco Inc. (NYSE:TX - news) to $4.52 from $3.35, the stock is rated a Market Performer.
-- USX-Marathon Group (NYSE:MRO - news) to $2.93 from $2.14, the stock is rated a Market Performer.
biz.yahoo.com
I don't understand how these stocks can have their estimates raised so much, be so close to recent 52 week lows and still be rated Market Performers. Geez. I'll focus on the estimates and ignore their rating. Of course they love XOM even though it's almost 2x more expensive and estimates are 33% lower than P. Even in a value sector - value is ignored. What a joke. I think I'll buy some more MRO manana.
Not sure when this news hit the market. The press release hit after the close, but often buy ratings or estimates are given and then a press release is issued a few hours later. OSX is looking like it is very close to a near term bottom. The XNG and OSX may rally with the XOI tomorrow. Although I wouldn't mind PGO sub 16 or HOFF sub 7. |
