- Exxon Mobil (XOM -1.2%) is downgraded to Underweight from Equal Weight at Barclays, primarily due to its relative valuation in the belief that potential upside is limited compared to peers.
- XOM will continue to face relative headwinds concerning the lack of meaningful near-term production growth and the likelihood of a relatively steady high oil price environment, Barclays believes.
- The firm recommends switching out of XOM to ConocoPhillips (COP -0.3%), Imperial Oil (IMO -1.3%) or Suncor (SU -0.3%).
- Barclays also cuts Cenovus Energy (CVE -1.7%) to Equal Weight from Overweight, seeing operating issues at Foster Creek and Pelican Lake remaining a drag on shares over the next several quarters (Briefing.com).
From other sites
Video at CNBC.com (Aug 26, 2015)
Video at CNBC.com (Jul 28, 2015)
at CNBC.com (May 22, 2015)
Video at CNBC.com (May 21, 2015)
at CNBC.com (May 5, 2015)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs