Analyst: Exxon Mobil and Chevron Need to Regress to the Mean
Analyst Katherine Lucas Minyard upgraded shares of Talisman Energy (NYSE:TLM) and Occidental Petroleum (NYSE:OXY) to neutral from overweight and repeated the overweight ratings on Nexen Inc (NYSE:NXY) and Hess Corp (NYSE:HES). Minyard said, “We believe that as investors look to put capital back to work in the higher-risk names in the sector, all four companies will screen well relative to the broader peer group.”
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Exxon Mobil’s (NYSE:XOM) stock is down .88% to $73.30 on the news. Shares are up 0.3% year to date. The stock has traded in a 52-week range between $63.18 and $88.23. Chevron’s (NYSE:CVX) stock is down 1.28% to $93.47on the news. Shares are up 2.45% year to date. The stock has traded in a 52-week range between $80.41 and $109.94.