Latest news with #RogerRead
Business Insider
12 hours ago
- Business
- Business Insider
Coterra Energy (CTRA) Receives a Buy from Wells Fargo
Wells Fargo analyst Roger Read maintained a Buy rating on Coterra Energy (CTRA – Research Report) on June 20 and set a price target of $31.00. The company's shares closed last Friday at $26.97. Confident Investing Starts Here: According to TipRanks, Read is a 3-star analyst with an average return of 1.7% and a 53.80% success rate. Read covers the Energy sector, focusing on stocks such as Valero Energy, EOG Resources, and Phillips 66. In addition to Wells Fargo, Coterra Energy also received a Buy from Piper Sandler's Mark Lear in a report issued on June 16. However, on June 9, Morgan Stanley maintained a Hold rating on Coterra Energy (NYSE: CTRA). Based on Coterra Energy's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $924 million and a net profit of $516 million. In comparison, last year the company earned a revenue of $1.37 billion and had a net profit of $352 million Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CTRA in relation to earlier this year. Last month, Stephen Bell, the EVP – Business Development of CTRA sold 100,000.00 shares for a total of $2,525,000.00.
CNBC
13-06-2025
- Business
- CNBC
Oil spike on Israel-Iran conflict should ease, according to energy analysts. Here's why
The sudden spike in oil prices in response to Israel's attack against Iran should be short lived unless physical supplies are actually disrupted in the Middle East, energy analysts say. U.S. crude oil prices surged as much as 14% after Israel launched airstrikes against Iran's nuclear and ballistic missile programs. Prices have come down from the highs as it has become clear that Israel has spared the OPEC member's energy infrastructure — at least for now. U.S. West Texas Intermediate was last up $5.09, or 7.48%, to $73.13 per barrel at 9:43 a.m. ET. Global benchmark Brent rose $5.02, or 7.23%, to $74.38 per barrel. Crude oil futures are heading for the biggest intraday gain since March 2022, the month after Russia invaded Ukraine. "The increase in oil prices thus far is driven more by fears than physical impacts," Wells Fargo analyst Roger Read told clients in a note Thursday. Physical barrels of crude oil would need to be knocked out of the market for prices to rise higher at this point, Read said. The risk premium in oil prices will probably persist until investors have clarity on how Iran and the U.S. will react to Israel's strikes, said Mark Haefele, UBS global wealth management chief investment officer. "If there are no supply disruptions, oil prices should fall again," Haefele said. Just two months ago, crude prices hit the lowest levels since 2021 due to OPEC+ surging production and President Donald Trump's tariffs. Oil unlikely to face disruption Goldman Sachs is maintaining its 2026 price forecast of $56 per barrel Brent and $52 per barrel U.S. crude. Goldman is assuming oil supplies will not face serious disruption in the Middle East. Energy supplies did not end up in the cross hairs last year when Israel and Iran exchanged missile barrages, according to Citi. Iran's relations have also improved with its Gulf Arab neighbors, so Tehran is unlikely to target their supplies, according to the investment bank. "Disruptions to energy flow should be limited," Citi analysts led by Anthony Yuen told clients in a Thursday note. "Thus, heightened geopolitical tensions may well remain, but we do not expect energy prices to stay elevated for a sustained period of time." But Goldman warned that geopolitical risks have risen sharply and prices could skyrocket in extreme scenarios. Brent prices could shoot to a peak of $90 per barrel if Israel hits Iran's oil infrastructure hard enough to knock 1.75 million barrels per day out of the market for a six months, according to Goldman. Oil prices could shoot above $100 per barrel if Iran interrupts trade in the Strait of Hormuz, according to Goldman. About one-fifth of the world's oil flows through the strait. But a disruption in the strait is viewed as very unlikely by most analysts. "I've heard assessments that it would be very difficult for the Iranians to close the Strait of Hormuz, given the presence of the U.S Fifth Fleet in Bahrain," Helima Croft, global head of commodity strategy at RBC Capital Markets, told CNBC's "Squawk Box." "But they could target tankers there, they could mine the straits," Croft said. But Iran's military power has been so degraded by Israel in previous rounds of conflict that the Islamic Republic has a limited ability to respond, said John Kilduff, founding partner at Again Capital. Oil prices usually surge in response to tensions involving Iran but then come down eventually, Kilduff said. "Cooler heads and really the reality of the situation tends to prevail and these markets calm down accordingly," Kilduff told CNBC's "Squawk on the Street."
Business Insider
01-06-2025
- Business
- Business Insider
Wells Fargo Remains a Buy on EOG Resources (EOG)
Wells Fargo analyst Roger Read maintained a Buy rating on EOG Resources (EOG – Research Report) on May 30 and set a price target of $146.00. Confident Investing Starts Here: Read covers the Energy sector, focusing on stocks such as Valero Energy, Devon Energy, and EOG Resources. According to TipRanks, Read has an average return of -0.2% and a 44.47% success rate on recommended stocks. In addition to Wells Fargo, EOG Resources also received a Buy from BMO Capital's Phillip Jungwirth in a report issued on May 30. However, on the same day, TD Cowen maintained a Hold rating on EOG Resources (NYSE: EOG). EOG market cap is currently $59.26B and has a P/E ratio of 10.08. Based on the recent corporate insider activity of 100 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EOG in relation to earlier this year. Most recently, in April 2025, Jeffrey R. Leitzell, the EVP & COO of EOG sold 4,037.00 shares for a total of $515,771.56.
Business Insider
15-05-2025
- Business
- Business Insider
Wells Fargo Sticks to Their Sell Rating for Delek US Holdings (DK)
In a report released yesterday, Roger Read from Wells Fargo maintained a Sell rating on Delek US Holdings (DK – Research Report), with a price target of $11.00. The company's shares closed yesterday at $17.46. Confident Investing Starts Here: Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter According to TipRanks, Read is a 3-star analyst with an average return of 1.3% and a 48.89% success rate. Read covers the Energy sector, focusing on stocks such as Devon Energy, HF Sinclair Corporation, and Occidental Petroleum. In addition to Wells Fargo, Delek US Holdings also received a Sell from TD Cowen's Jason Gabelman in a report issued on May 8. However, on May 13, Mizuho Securities upgraded Delek US Holdings (NYSE: DK) to a Buy. DK market cap is currently $991.7M and has a P/E ratio of -1.37. Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DK in relation to earlier this year. Most recently, in March 2025, Ezra Uzi Yemin, the Chairman of DK bought 4,875.00 shares for a total of $75,026.25.
Business Insider
15-05-2025
- Business
- Business Insider
Occidental Petroleum (OXY) Receives a Hold from Wells Fargo
In a report released yesterday, Roger Read from Wells Fargo maintained a Hold rating on Occidental Petroleum (OXY – Research Report), with a price target of $42.00. The company's shares closed yesterday at $43.82. Confident Investing Starts Here: Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter According to TipRanks, Read is a 3-star analyst with an average return of 1.3% and a 48.89% success rate. Read covers the Energy sector, focusing on stocks such as Devon Energy, HF Sinclair Corporation, and Occidental Petroleum. In addition to Wells Fargo, Occidental Petroleum also received a Hold from Mizuho Securities's Nitin Kumar CFA in a report issued on May 13. However, on May 8, Raymond James reiterated a Buy rating on Occidental Petroleum (NYSE: OXY). Based on Occidental Petroleum's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.8 billion and a net profit of $936 million. In comparison, last year the company earned a revenue of $5.98 billion and had a net profit of $888 million Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OXY in relation to earlier this year. Last month, Avedick Baruyr Poladian, a Director at OXY bought 9,327.00 shares for a total of $198,665.10.
