EP Energy: Equity Dilution May Be Difficult To Avoid
Richard Zeits • 17 Comments
Richard Zeits • 17 Comments
Tue, Sep. 20, 4:46 PM
- via Bespoke - see table
- Five of the stocks have > 50% of their shares sold short.
- SHLD leads the pack.
Thu, Aug. 4, 9:16 AM
- Gainers: CBMX +31%. OCUL +27%. ALIM +18%. GV +18%. SQ +17%. DRAM +16%. XPO +14%. PCRX +12%. FHCO +11%. EPE +10%. EXEL +8%. APHB +7%. SSYS +7%. GOGO +6%. EVOK +5%. TSEM +5%.
- Losers: SGMO -25%. TDOC -21%. INOV -17%. KOOL -13%. SEAS -10%. QUIK -9%. IMGN -9%. CF -8%. AMRN -8%. TRIP -8%. CRC -6%. USCR -6%.
Wed, Aug. 3, 4:23 PM
Tue, Aug. 2, 5:35 PM
- AEL, AGO, AGU, ALB, ALIM, ALL, ANDE, AREX, ATO, AWK, AWR, BBRG, BFAM, BGC, BIO, BKH, BNFT, BREW, BYD, CABO, CBPX, CCRN, CDI, CECO, CF, CHDN, CIM, CLR, CNAT, CODI, CPA, CSGS, CSII, CTL, CXW, DENN, DEPO, DK, DKL, DPM, ECR, EPE, EPR, EQIX, ERII, ETE, ETP, EVC, EVHC, EXAR, EXEL, EXTR, FIVN, FOXA, FRGI, FRSH, FSLR, G, GBDC, GDDY, GERN, GPOR, HABT, HASI, HI, HIL, HIVE, HLF, HOS, HR, HRTG, HUBS, IAG, IL, INOV, IO, IRG, ITRI, JACK, JCOM, JONE, JRVR, LGCY, LHCG, LNC, LPI, MASI, MC, MED, MET, MNR, MRO, MTDR, MUSA, MWA, NBIX, NKTR, NLY, NNBR, NP, NSIT, NSTG, OAS, OME, OSUR, PDM, PE, PEGA, PMT, PODD, PRA, PRU, PRXL, QLYS, QTWO, QUIK, REXR, RICE, RIG, RIGP, RLJ, RMP, RNG, RP, RST, RYN, SBY, SEMI, SGMO, SNCR, SQ, SQNM, SRC, SSS, STAA, STR, SUN, SWM, SXL, TCAP, TDOC, TEAR, TEP, TLLP, TRIP, TRNC, TROX, TS, TSLA, TSLX, TSO, TTEC, TWO, UHAL, VTAE, VVC, WCN, WGL, WMC, WPG, WPX, WU, XEC, XPO
Mon, Aug. 1, 2:38 PM
Mon, Jul. 18, 3:58 PM
- Pioneer Natural Resources (PXD +0.1%), EP Energy (EPE +0.9%), Carrizo Oil & Gas (CRZO +2.8%), Sanchez Energy (SN +2.5%) and Synergy Resources (SYRG -0.1%) are all upgraded to Buy at KLR Group in advance of Q2 earnings reports.
- At the same time, the firm downgrades Devon Energy (DVN -0.4%), Consol Energy (CNX -1.3%) and Continental Resources (CLR +0.4%) to Accumulate from Buy on valuation given their substantial share price appreciation over the past four months.
- KLR expects the U.S. E&P industry's cost intensity to decline another 10% this year as capital spending is rationalized another 45%, but it anticipates spending ultimately will increase ~70% "assuming a substantive recovery in commodity prices."
- The firm's new stock price targets are $218 for PXD, $6.50 for EPE, $49 for CRZO, $9 for SN, $9 for SYRG, $44 for DVN, $20 for CNX and $54 for CLR.
Thu, Jun. 30, 2:01 PM
Thu, Jun. 30, 12:46 PM
Mon, May 16, 9:19 AM
Thu, May 5, 12:50 PM
Thu, May 5, 9:12 AM
- Gainers: SYNC +143%. LGCY +31%. AAWW +27%. EPE +21%. FCEL +19%. WTW +15%. DNR +14%. ZNGA +14%. CHK +13%. BCEI +12%. UNXL +12%. ARRS +10%. CRC +10%. CLMT +9%. ORIG +9%. QRVO +8%. GSV +8%. HMY +8%. VNR +7%. MEET +7%. SDRL 7%. CLR 6%. SGYP 6%. OAS 5%. REGN 5%. BABA 5%. AUY 5%.
- Losers: PTX -37%. FRSH -27%. SQNM -19%. FIT -13%. EBIO -11%. LB -10%. WFT -9%. SEAS -8%. ABC -8%. CTL -5%.
Wed, May 4, 4:31 PM
Wed, Apr. 27, 12:46 PM
Fri, Apr. 15, 12:29 PM
- J.P. Morgan analysts revises ratings on several large-cap E&P companies following the six-week 71% rally of E&P equities in its coverage
- The firm upgrades Anadarko Petroleum (APC +0.3%) to Overweight from Neutral based on an attractive relative valuation, a resilient production profile and improved balance sheet, and upgrades Antero Resources (AR +0.9%) to Neutral from Underweight on strong PDP reserve growth and expectations of continued strong operating momentum through 2017.
- Meanwhile, JPM downgrades Southwestern Energy (SWN -0.4%) to Underweight from Neutral and EP Energy (EPE +0.4%) to Neutral from Overweight on valuation metrics.
- The firm also thinks further successful delineation of the emerging STACK play in Oklahoma could support a relative re-rating in Continental Resources (CLR -0.1%) and Devon Energy (DVN -0.3%) shares, as drilling returns in the oil window are among the highest in U.S.
- JPM's top natural gas pick remains EQT Corp. (EQT -0.4%) given differentiated growth, a strong balance sheet, noteworthy catalysts and attractive valuation.
- Now read Why Anadarko Petroleum is the best bet in a challenging oil market
Wed, Mar. 30, 5:39 PM
Tue, Mar. 22, 3:41 PM
- EP Energy (EPE +5.3) recoups much of yesterday's sharp loss, but BofA Merrill downgrades shares to Underperform from Neutral with a $3 price target, cut from $3.50, citing remaining balance sheet headwinds.
- BofA says EPE's $420M sale of its Haynesville shale assets represents the company's first step towards cleaning up its $4.8B in debt, but leverage could continue to be a headwind into 2017 when most of the company’s hedges roll off, the firm says.
- BofA says it is difficult to “envision a scenario post 2016 where EPE can live within cash flow while moderating its production declines, barring a significant recovery in commodity prices,” expecting production to fall by 23% in 2016, including the Haynesville sale, and down another 11% in 2017.