Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Exterran Corporation (EXTN) and Oasis Petroleum Inc (OAS).
Exterran Corporation (EXTN)
In a report released yesterday, James West from Evercore ISI maintained a Buy rating on Exterran Corporation, with a price target of $28. The company’s shares opened today at $11.51, close to its 52-week low of $10.95.
West commented:
“We forecasts EXTN to continue generating positive operating cash flow in the coming quarters and positive FCF for the 2H (but not FY) as new orders can quickly convert to revenue with EXTN having built inventory of key components assigned to specific projects. We just need those orders to flow through. Our PT remains $28 based on a 6x target multiple of our 2020 EBITDA and we continue to rate the shares Outperform.”
According to TipRanks.com, West is ranked #5042 out of 5229 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Exterran Corporation with a $30.25 average price target.
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Oasis Petroleum Inc (OAS)
Evercore ISI analyst Stephen Richardson maintained a Hold rating on Oasis Petroleum Inc yesterday and set a price target of $9. The company’s shares opened today at $2.70, close to its 52-week low of $2.41.
Richardson noted:
“We had adopted a wait and see approach to OAS’ multi basin + midstream strategy, with a view that 2019 would see managed declines in the Bakken, continued midstream buildout, and indications of the transition of growth capital to the Delaware. 2Q results suggest challenges remain. Capex was above expectations (E&P, not midstream) and production expectations fell short (in both basins, however OAS did not have a specific 2Q Delaware guide). We expect market focus to be on maintenance capital disclosure surrounding the Bakken and the achievability of updated Delaware entry to exit guidance. Not a quarter to miss either capex or production growth expectations. Further, market expectations have been building for some additional strategic clarity surrounding OMP in 2019. We will revisit our estimates and PT following incremental quarterly disclosure. Maintain Inline.”
According to TipRanks.com, Richardson is a 1-star analyst with an average return of -3.9% and a 38.6% success rate. Richardson covers the Basic Materials sector, focusing on stocks such as Southwestern Energy, Marathon Oil, and Viper Energy.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Oasis Petroleum Inc with a $7.21 average price target, representing a 167.0% upside. In a report released yesterday, Williams Capital also downgraded the stock to Hold with a $5 price target.
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