logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

EPL Oil & Gas (EPL) Jumps on Upgrade to "Buy"

By  +Follow January 10, 2014 8:59AM
Share:
Tickers Mentioned:

The $1 billion-dollar independent oil & gas exploration/production firm Energy Partners Ltd. (EPL) was trading nearly 7 percent higher on Friday following an upgrade from Canaccord Genuity from “hold” to “buy.”

The gains for Energy Partner’s came early and persisted throughout the day’s trading, despite the fact that another ratings firm, Sasquehanna, initiated coverage on the stock at “negative” at the same time. EPL is a Houston, TX-based company that does the bulk of its work in state and federal waters in the Gulf of Mexico, and is coming off a strong 2013, on a gain of nearly 25 percent for the full year.

In the new year, however, shares have struggled slightly, off about 6 percent, including Friday’s gains. Canaccord’s decision to upgrade EPL was based on valuation, as the company is trading at just over 9 times earnings, significantly behind the industry average of around five times greater than that.

Furthermore, the ratings firm gave Energy Partners’ stock a price target of $37, a significant premium on the company’s current share price of $28. Though an independent explorer/driller, the company is not one of those whose revenues and profits are tied to the onshore “shale boom” of recent years.

Instead, Canaccord believes that the company’s offshore assets are of high-quality. EPL is currently sitting on at least 77.5 million barrels of oil equivalent, and owns interests in at least 37 different producing fields in the Gulf of Mexico shelf.

If nothing else, today’s upgrade is an indication that the “shale boom,” for all of its magnitude and consequence, is still only one component among several that currently make up the US “energy revolution,” and that more traditional wells, as well as other types of unconventional sources, will continue to play a significant role going forward.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for EPL
Stockaholics
26 Feb 15 17:03:01
$HIPPQ Closed up 275% Yesterday, As One Of The Best Penny Stocks of the Day! Big Update: http://t.co/KKZkbfPf1Q $VVUS $EPL $FNSR
Stockaholics
26 Feb 15 12:10:27
$HIPPQ Closed up 275% Yesterday, As One Of The Best Penny Stocks of the Day! Big Update: http://t.co/KKZkbfPf1Q $VVUS $EPL $FNSR
Stock Rocket
26 Feb 15 08:02:55
$HIPPQ Closed up 275% Yesterday, As One Of The Best Penny Stocks of the Day! Big Update: http://t.co/pAeZe2hOS3 $VVUS $EPL $FNSR
Stock Rocket
25 Feb 15 21:13:25
$HIPPQ Closed up 275% As The Best Penny Stock of the Day! Special News Update: http://t.co/pAeZe2hOS3 $VVUS $EPL $FNSR
Stockaholics
25 Feb 15 17:21:57
$HIPPQ Closed up 275% As The Best Penny Stock of the Day! Special News Update: http://t.co/KKZkbfPf1Q $VVUS $EPL $FNSR
Stockaholics
25 Feb 15 06:16:57
Our Stock Picks QUADRUPLED in Value In Two Weeks & We Have A New Pick! Check It Out: http://t.co/mOimc14Gg5 $VVUS $EPL $FNSR
Stock Rocket
24 Feb 15 19:10:14
300% Gains In 2 Weeks & A New Stock Pick Is Coming Tomorrow! Get Special Access: http://t.co/LeH0BAeRM8 $VVUS $EPL $FNSR
Stockaholics
24 Feb 15 15:21:26
300% Gains In 2 Weeks & A New Stock Pick Is Coming Tomorrow! Get Special Access: http://t.co/mOimc1mh7D $VVUS $EPL $FNSR
Daily Contracts
24 Feb 15 12:29:01
Real-Time feed of company contracts, original agreements and executive updates from $EPL http://t.co/JBUTCmw1my
Stockaholics
24 Feb 15 10:55:33
Our Penny Stock Picks Gained 342% In the Past 2 Weeks! Get Our New Pick Early: http://t.co/kCTZcVwGMN $VVUS $EPL $FNSR
Stock Rocket
23 Feb 15 15:50:25
Our Penny Stock Picks Gained 342% In the Past 2 Weeks! Get Our New Pick Early: http://t.co/eK5z4Yn6Hw $VVUS $EPL $FNSR
Stock Rocket
23 Feb 15 10:03:30
Our Penny Stock Picks Gained 342% In the Past 2 Weeks! Get Our New Pick Early: http://t.co/eK5z4Yn6Hw $VVUS $EPL $FNSR
Penny Stock Secret
23 Feb 15 06:03:38
Don't Wait Untill 2016 To Realize This POWERFUL Stock Alert Service! $240,000 GAINS! http://t.co/NovWYe2RAx .. $VVUS $EPL $FNSR
Stock Rocket
23 Feb 15 05:56:52
Our Penny Stock Picks Gained 342% In the Past 2 Weeks! Get Our New Pick Early: http://t.co/eK5z4Yn6Hw $VVUS $EPL $FNSR
Stockaholics
21 Feb 15 15:55:17
With moves On $THCZ & $SUTI Our Stock Picks Gained 342% In The Past 2 Weeks! Big News: http://t.co/7J8VHIerKZ $VVUS $EPL $FNSR
Penny Stock Secret
21 Feb 15 06:27:25
EXCELLENT TRADING ALERTS - TURNED $1000 INTO 1.4 MILLION HIGHLY RECOMMENDED!! http://t.co/NovWYe2RAx .. $VVUS $EPL $FNSR
Stockaholics
21 Feb 15 00:18:49
With moves On $THCZ & $SUTI Our Stock Picks Gained 342% In The Past 2 Weeks! Big News: http://t.co/7J8VHIerKZ $VVUS $EPL $FNSR
Stock Rocket
20 Feb 15 20:37:37
With moves On $THCZ & $SUTI Our Stock Picks Gained 342% In The Past 2 Weeks! Big News: http://t.co/ADOGYJPzVL $VVUS $EPL $FNSR
Stock Rocket
20 Feb 15 16:33:00
With moves On $THCZ & $SUTI Our Stock Picks Gained 342% In The Past 2 Weeks! Big News: http://t.co/ADOGYJPzVL $VVUS $EPL $FNSR
Stockaholics
20 Feb 15 11:52:26
With moves On $THCZ & $SUTI Our Stock Picks Gained 342% In The Past 2 Weeks! Big News: http://t.co/7J8VHIerKZ $VVUS $EPL $FNSR
Penny Stock Secret
20 Feb 15 07:53:24
The Stock Picking Service of 2014 Watch This! Here http://t.co/NovWYeksZ7 .. $VVUS $EPL $FNSR
Stock Rocket
20 Feb 15 00:54:48
With moves On $THCZ & $SUTI Our Stock Picks Gained 342% In The Past 2 Weeks! Big News: http://t.co/ADOGYJPzVL $VVUS $EPL $FNSR
Stockaholics
19 Feb 15 20:33:02
With moves On $THCZ & $SUTI Our Stock Picks Gained 342% In The Past 2 Weeks! Big News: http://t.co/7J8VHIerKZ $VVUS $EPL $FNSR
				
				
By  +Follow January 10, 2014 8:59AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.