Large oil companies appear ready to explode past estimates for the first quarter, according to Barclays (NYSE:BCS) analyst Paul Cheng, citing Chevron (NYSE:CVX) and Alon USA Energy (NYSE:ALJ) as the two oil companies with the most upside.
Among the few oil companies with downside, he believes Sunoco (NYSE:SUN) will miss the most.
Cheng wrote in a note to clients, “We think the current published consensus estimates have not fully reflected the strong Brent price environment as well as the higher light/heavy oil differentials.”
On average, Chen sees the 18 integrated oil companies he covers to post year-over-year EPS increases of 54%, and 35% quarter over quarter.
Alon USA Energy closed Thursday at $14.20, dropping $0.22, or 1.53 percent. Chevron closed at $108.94, gaining $0.28, or 0.26 percent.
Friday, April 8, 2011
Chevron (CVX), (ALJ) to Crush Estimates Says Barclays (BCS)
Labels:
Alon USA Energy,
Barclays,
Chevron,
Sunoco
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