Analysts are weighing in on energy stocks Exxon Mobil Corporation (NYSE:XOM), Diamondback Energy Inc (NASDAQ:FANG), and Weatherford International Plc (NYSE:WFT). Here's a quick roundup of today's bearish brokerage notes on shares of XOM, FANG, and WFT.
HSBC trimmed its price target on XOM to $84 from $85. The bearish note is well-deserved, as the stock has lost 8.5% year-to-date, including 0.4% today at $82.61. Options traders can't be too happy about Exxon Mobil Corporation's technical woes. During the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open more than twice as many calls as puts. XOM's resultant call/put volume ratio of 2.23 rests just 6 percentage points from a 12-month peak.
Diamondback Energy Digests Mixed Analyst Attention
FANG is up 0.5% at $106.84, after a mixed round of analyst attention. On the one hand, Morgan Stanley cut its price target to $137 from $149; on the other, Stifel started coverage with a "buy" assessment and a $123 price target. In any case, both price targets sit in territory never explored by Diamondback Energy Inc shares. On a long-term basis, the stock has been strong, advancing roughly 31% over the last 52 weeks. Not surprisingly, 17 of 22 analysts rate FANG a "buy" or better, with not a single "sell" opinion to be found.
WFT saw its rating cut to "neutral" from "buy" at Goldman Sachs, sending the shares 2.1% lower this morning to $6.18. Nevertheless, the stock still sports a year-to-date gain of almost 24%. Options traders, meanwhile, have expressed near-extreme levels of optimism toward Weatherford International Plc. The stock's 10-day ISE/CBOE/PHLX call/put volume ratio checks in at a top-heavy 14.53, outstripping 87% of comparable readings taken in the past year.
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