- The energy analysts at Cowen say that after three years of disappointment, 2014 is expected to bring stabilization and moderate growth with the potential for meaningful ramp-up in the sector during 2015-18.
- One of Cowen's three big oil favorites is Occidental Petroleum (OXY) after announcing plans to spin off its California assets into a separate company; the firm likes OXY's potential to see the full benefit of rising oil prices in future results without being weighed by refining or midstream operations.
- The firm foresees margin expansion at Exxon Mobil (XOM) with incremental growth coming from liquids-linked output, and thinks capex will start to drop after this year.
- Cowen analysts also like Chevron (CVX) but would be patient buyers while awaiting commentary on further improvement due to better project mix.
at Zacks.com (Thu, 4:10PM)