BUZZ-JP Morgan changes PT and rating on energy cos citing supply risks

Reuters12-08 20:02

BUZZ-JP Morgan changes PT and rating on energy cos citing supply risks

** J.P. Morgan changes PT and rating on oil and gas companies citing supply side risks and long-awaited demand inflection for natural gas

** Brokerage says the magnitude of the oversupply plus the potential easing of geopolitical tensions would make this a speculative call at best

** Sees potential for global oil stocks to swell by a whopping 2.8 million barrels of oil per day in 2026 absent any intervention from the OPEC+ cartel or producer capex cuts

Brokerage changes PT and rating on the following companies:

Company	Old PT	New PT	Upside/downside to the stock's last close	Rating Change
APA Corp APA.O	$28	$26	4.06% downside	-
ConocoPhillips COP.N	$112	$102	8.9% upside	-
EOG Resources EOG.N	$131	$121	7.9% upside	-
Diamondback Energy FANG.O	$166	$159	0.25% upside	-
Occidental Petroleum OXY.N	$51	$44	3.7% upside	downgrades to "Underweight" from "Neutral"
Expand Energy EXE.O	$130	$132	7.4% upside	-
EQT Corp EQT.N	$62	$64	5.5% upside	-

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))

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Morgan changes PT and rating on oil and gas companies citing supply side risks and long-awaited demand inflection for natural gas</p><p>** Brokerage says the magnitude of the oversupply plus the potential easing of geopolitical tensions would make this a speculative call at best</p><p>** Sees potential for global oil stocks to swell by a whopping 2.8 million barrels of oil per day in 2026 absent any intervention from the OPEC+ cartel or producer capex cuts</p><p>Brokerage changes PT and rating on the following companies:</p><table><tbody><tr><td><p>Company</p></td><td><p>Old PT</p></td><td><p>New PT</p></td><td><p>Upside/downside to the stock's last close</p></td><td><p>Rating Change</p></td></tr><tr><td><p>APA Corp <span>APA.O</span> </p></td><td><p>$28</p></td><td><p>$26</p></td><td><p>4.06% downside</p></td><td><p>-</p></td></tr><tr><td><p>ConocoPhillips <span>COP.N</span> </p></td><td><p>$112</p></td><td><p>$102</p></td><td><p>8.9% upside</p></td><td><p>-</p></td></tr><tr><td><p>EOG Resources <span>EOG.N</span> </p></td><td><p>$131</p></td><td><p>$121</p></td><td><p>7.9% upside</p></td><td><p>-</p></td></tr><tr><td><p><a href=\"https://laohu8.com/S/FANG\">Diamondback Energy</a> <span>FANG.O</span> </p></td><td><p>$166</p></td><td><p>$159</p></td><td><p>0.25% upside</p></td><td><p>-</p></td></tr><tr><td><p><a href=\"https://laohu8.com/S/OXY.WS\">Occidental Petroleum</a> <span>OXY.N</span> </p></td><td><p>$51</p></td><td><p>$44</p></td><td><p>3.7% upside</p></td><td><p>downgrades to \"Underweight\" from \"Neutral\"</p></td></tr><tr><td><p>Expand Energy <span>EXE.O</span> </p></td><td><p>$130</p></td><td><p>$132</p></td><td><p>7.4% upside</p></td><td><p>-</p></td></tr><tr><td><p>EQT Corp <span>EQT.N</span> </p></td><td><p>$62</p></td><td><p>$64</p></td><td><p>5.5% upside</p></td><td><p>-</p></td></tr></tbody></table><p> (Reporting by Sumit Saha in Bengaluru)</p><p> ((Sumit.Saha@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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Morgan changes PT and rating on oil and gas companies citing supply side risks and long-awaited demand inflection for natural gas</p><p>** Brokerage says the magnitude of the oversupply plus the potential easing of geopolitical tensions would make this a speculative call at best</p><p>** Sees potential for global oil stocks to swell by a whopping 2.8 million barrels of oil per day in 2026 absent any intervention from the OPEC+ cartel or producer capex cuts</p><p>Brokerage changes PT and rating on the following companies:</p><table><tbody><tr><td><p>Company</p></td><td><p>Old PT</p></td><td><p>New PT</p></td><td><p>Upside/downside to the stock's last close</p></td><td><p>Rating Change</p></td></tr><tr><td><p>APA Corp <span>APA.O</span> </p></td><td><p>$28</p></td><td><p>$26</p></td><td><p>4.06% downside</p></td><td><p>-</p></td></tr><tr><td><p>ConocoPhillips <span>COP.N</span> </p></td><td><p>$112</p></td><td><p>$102</p></td><td><p>8.9% upside</p></td><td><p>-</p></td></tr><tr><td><p>EOG Resources <span>EOG.N</span> </p></td><td><p>$131</p></td><td><p>$121</p></td><td><p>7.9% upside</p></td><td><p>-</p></td></tr><tr><td><p><a href=\"https://laohu8.com/S/FANG\">Diamondback Energy</a> <span>FANG.O</span> </p></td><td><p>$166</p></td><td><p>$159</p></td><td><p>0.25% upside</p></td><td><p>-</p></td></tr><tr><td><p><a href=\"https://laohu8.com/S/OXY.WS\">Occidental Petroleum</a> <span>OXY.N</span> </p></td><td><p>$51</p></td><td><p>$44</p></td><td><p>3.7% upside</p></td><td><p>downgrades to \"Underweight\" from \"Neutral\"</p></td></tr><tr><td><p>Expand Energy <span>EXE.O</span> </p></td><td><p>$130</p></td><td><p>$132</p></td><td><p>7.4% upside</p></td><td><p>-</p></td></tr><tr><td><p>EQT Corp <span>EQT.N</span> </p></td><td><p>$62</p></td><td><p>$64</p></td><td><p>5.5% upside</p></td><td><p>-</p></td></tr></tbody></table><p> (Reporting by Sumit Saha in Bengaluru)</p><p> ((Sumit.Saha@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0048573561.USD","symbol_name":"FIDELITY AMERICA \"A\" (USD) INC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251208:nL4N3XE0Q9:1","article_id":"2589337086","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2589337086","pubTimestamp":1765195338,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-JP Morgan changes PT and rating on energy cos citing supply risks** J.P. 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Morgan changes PT and rating on oil and gas companies citing supply side risks and long-awaited demand inflection for natural gas** Brokerage says the magnitude of the oversupply plus the potential easing of geopolitical tensions would make this a speculative call at best** Sees potential for global oil stocks to swell by a whopping 2.8 million barrels of oil per day in 2026 absent any intervention from the OPEC+ cartel or producer capex cutsBrokerage changes PT and rating on the following companies:CompanyOld PTNew PTUpside/downside to the stock's last closeRating ChangeAPA Corp APA.O $28$264.06% downside-ConocoPhillips COP.N $112$1028.9% upside-EOG Resources EOG.N $131$1217.9% upside-Diamondback Energy FANG.O $166$1590.25% upside-Occidental Petroleum OXY.N $51$443.7% upsidedowngrades to \"Underweight\" from \"Neutral\"Expand Energy EXE.O $130$1327.4% upside-EQT Corp EQT.N $62$645.5% upside- (Reporting by Sumit Saha in Bengaluru) ((Sumit.Saha@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.11","shortVersion":"4.35.11","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2589337086","isCrawlerRequest":true}