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This week’s analyst picks are a bit thin due to the holidays, but three oil and gas stocks and one coal company stood out as having strong potential upside.
The following resource companies were mentioned by analysts during the week of December 24-30. This information, to be used for the purpose of evaluating potential investments, was distilled from a daily list of analyst upgrades, downgrades and initiations compiled by Analyst Ratings Network.
Emerald Oil Inc. (NYSE:EOX) is developing oil wells in the Williston Basin of North Dakota and Montana, and is also targeting the Bakken and Three Forks shale oil formations. Emerald Oil is now covered by analysts at Iberia Capital. They set an “outperform” rating and a $11.00 price target on the stock. 45.1 percent upside from the previous close of $7.58.
Carrizo Oil & Gas Inc. (NASDAQ:CRZO) focuses on producing oil and gas shales primarily in the Eagle Ford Shale in South Texas, the Niobrara Formation in Colorado, the Marcellus Shale in Pennsylvania, and the Utica Shale in Ohio. Carrizo is now covered by analysts at Iberia Capital. They set an “outperform” rating and a $55.00 price target on the stock. 26.1 percent upside from the previous close of $43.60.
Sanchez Energy Corp. (NYSE:SN) acquires and develops unconventional oil resources in the onshore U.S. Gulf Coast, with a current focus on the Eagle Ford Shale where it has assembled approximately 125,000 net acres. Sanchez also has about 40,000 net acres targeting the Tuscaloosa Marine Shale. The company is now covered by analysts at Iberia Capital. They set an “outperform” rating and a $33.00 price target on the stock. 38.8 percent upside from the previous close of $23.77.
Westmoreland Coal Co.’s (NASDAQ:WLB) operations include surface coal mining complexes in four Western states and power operations in North Carolina. A few days ago, Westmoreland acquired the Kemmerer mine in Wyoming, in a deal that included 118 million tons of coal reserves, enough for 20 years of production. The company is now covered by analysts at Brean Capital. They set a “buy” rating and a $22.00 price target on the stock. 21.1 percent upside from the previous close of $18.17.
Securities Disclosure: I, Andrew Topf, hold no investment interest in any of the companies mentioned.
Related reading:
Analyst Picks of the Week: December 17-23