4 Energy Stock Stories Not To Be Missed on Tuesday

Exxon Mobil Corporation (NYSE:XOM): Current price $90.41

Analyst Robert Du Boff at Oppenheimer has downgraded Exxon Mobil from Outperform to Perform and removed its $100 price target. In a report, the analyst commented that ”XOM is challenged to maintain, not to mention grow, its production organically and to add oil & gas reserves competitively, and no discovery could be big enough to impact its valuation. XOM is among the most efficient energy companies, and further meaningful cost savings are unlikely. XOM has the highest P/E and P/CF multiples and lowest dividend yield among peers. But most importantly, even at higher oil and gas prices, XOM cannot maintain its $20 billion annual share repurchase program, a key value driver.”

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XOM

Phillips 66 (NYSE: PSX): Current price $67.23

On Tuesday, Phillips said that it is going forward with the development of a 100,000 barrel-per-day natural gas liquids fractionator to be located in Old Ocean, Texas, nears its Sweeny Refinery. The project would create more than 25 full-time positions and hundreds of temporary construction jobs. If approved, construction should commence in the first half of 2014 with startup anticipated by the second half of 2015.

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PSX

BP (NYSE:BP): Current price $42.14

The BP-led Shah Deniz consortium says that it is moving to the detailed evaluation phase of its transportation options subsequent to receiving final bids from its rivals Nabucco and Trans Adriatic Pipeline. The two competitor bidders have now submitted “substantial information about the technical, regulatory, financial and other aspects” of their Nabucco West and TAP pipeline projects, according to Shah Deniz, which added that the transportation offers were set to become legally binding in April, and that it was also expecting binding gas sales bids from potential gas buyers this month, as well.

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BP

Noble Energy (NYSE:NBL): Current price $116.23

Globes reports that natural gas began flowing from Israel’s large offshore natural gas field, Tamar, on Saturday. Noble Energy holds a 36-percent interest in the field; its shares were added to the short-term Buy list at Deutsche Bank on Monday.

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NBL

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