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Susquehanna Adjusts Price Target on Devon Energy to $57 From $52, Maintains Positive Rating

Devon Energy (DVN) has an average rating of overweight and mean price target of $58.84, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$DVN

Equities63d ago

Susquehanna Adjusts Price Target on Occidental Petroleum to $67 From $60, Maintains Positive Rating

Occidental Petroleum (OXY) has an average rating of hold and mean price target of $63.92, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$OXY

Equities63d ago

Shell Says Dutch Climate Activist Group's New Emissions Case 'Unrealistic, Unreasonable'

Shell (SHEL.L, SHELL.AS) on Tuesday called a Dutch climate activist group's new emissions case against the company as "unrealistic, unreasonable and fundamentally misplaced."While the British oil and gas giant agrees with Milieudefensie that energy transition is important, it said its continued investment in oil and gas projects will support energy supply security in the coming years as renewables take a bigger market share amid the "natural decline" of oil and gas fields.In its response to the lawsuit, Shell also highlighted the coordinated action needed in the global energy system and how the claim repeats "numerous arguments" in a lawsuit that was fully dismissed in 2024.Milieudefensie is demanding Shell to stop bringing new oil and gas fields into production under its new legal case in the Netherlands, describing the investments as "climate-disrupting activities," Reuters reported Tuesday, citing the summons filed against the company.

$SHEL.L$SHELL.AS

Equities63d ago

Susquehanna Adjusts PT on ConocoPhillips to $149 From $121, Maintains Positive Rating

ConocoPhillips (COP) has an average rating of overweight and mean price target of $138.33, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$COP

Equities63d ago

Shell Faces Lawsuit by Dutch Environmental Group Demanding it Halt New Oil, Gas Projects

Shell (SHEL) faces a fresh lawsuit by a Dutch climate activist organization demanding it immediately end its investments in new oil and gas projects, Reuters reported Tuesday, citing court documents."Shell must stop bringing new oil and gas fields into production. This is necessary to protect us from Shell's climate-disrupting activities," Friends of the Earth Netherlands, or Milieudefensie, said in the filing, Reuters reported.The organization said on its website last week that it planned action against Shell.Shell in a statement posted to its website called the case "unrealistic, unreasonable," and "fundamentally misplaced.""It ignores the role oil and gas will continue to play over the coming decades as renewables become more widely available," said Shell."We agree with Milieudefensie that current geopolitical shifts make clear that the energy transition is essential," said Shell. "Reliable and affordable energy is critical for economies to function, for industries to operate and for people to meet their basic needs."

$SHEL

Equities63d ago

Susquehanna Adjusts Price Target on APA to $47 From $37, Maintains Positive Rating

APA (APA) has an average rating of hold and mean price target of $40.11, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$APA

Equities63d ago

Vaalco Energy Provides Updates on Gabon, Cote d'Ivoire Operations

Vaalco Energy (EGY) said Tuesday its Etame 14H development well is in an attic position after the company drilled, completed and placed it on production in Gabon.The well is positioned within the main fault block of the Etame field, according to the company, adding that the well had an initial flow rate of roughly 4,850 gross barrels of oil per day.Vaalco said it has also started drilling on the EEBOM-5H development well in Gabon.Additionally, Vaalco said its Baobab Ivorien floating production storage and offloading vessel in Cote d'Ivoire has completed a 47-day tow from Dubai's Dry Dock World shipyard and arrived back in the country on April 2 after complete refurbishment, adding that production is expected to resume in Q2.

$EGY

Equities63d ago

BASF Price Target, Estimates Up as Berenberg Forecasts 'Surprisingly Good' FY26

Berenberg raised its price target and estimates for BASF (BAS.F), expecting the German chemicals company to record a "surprisingly good, if volatile, 2026" but noted that the "overdue good fortune" is already reflected in its valuation."This report is the first time in years where we have substantially raised earnings forecasts for BASF. After a decade of struggling to adapt to oversupply in the chemicals sector, the most substantive pieces of news over the last six months have all been positive. Against the backdrop of domestic German stimulus, shares have responded well to: i) potential political relief on carbon taxation and select anti-dumping investigations; and ii) increases in chemicals prices caused by Iran-conflict-induced feedstock shortages at Asian peers. We are unsure of the longevity of ii, but the self-help measures, including the sale of coatings for EUR8.7bn (13x EV/EBITDA), have left the company quite well-placed to enjoy the upswing," according to a Tuesday note.Ahead of BASF's first-quarter results on April 30, the research firm expects the recent uptick in chemical pricing to show in its profit and loss statements in March, noting the pre-release from peer Wacker Chemie (WCH.F) reflects a potential positive trend across the diversified chemicals sector.As such, Berenberg projects first-quarter EBITDA of 2.4 billion euros, surpassing the 2.32 billion-euro market forecast. Meanwhile, the research firm's EPS assumptions were revised upwards to account for strengthening upstream chemicals prices and an increased contribution from BASF's 35% interest in British oil and gas company Harbour Energy (HBR.L).On the other hand, analysts said their projections for the next two years remain largely in line with consensus estimates amid expectations that upstream chemical prices will partially retreat once the Strait of Hormuz reopens.Against this backdrop, Berenberg increased the hold-rated stock's price target to 51 euros from 48 euros.

$BAS.F$HBR.L$WCH.F

Equities63d ago

Stephens Adjusts Price Target on Expand Energy to $162 From $167, Maintains Overweight Rating

Expand Energy (EXE) has an average rating of buy and mean price target of $134.48, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$EXE

Equities63d ago

Stephens Adjusts Price Target on EQT to $73 From $78, Maintains Overweight Rating

EQT (EQT) has an average rating of overweight and mean price target of $69.80, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$EQT

Equities63d ago

Spanish Regulator Clears BP of Alleged Collusion Over Fuel Prices

Spain's National Markets and Competition Commission, or CNMC, has shelved its investigation into BP (BP), Repsol, and Cepsa's alleged collusive practices and abuse of their dominant market position, according to a translation of a Tuesday statement from the regulator.The CNMC was probing complaints filed in 2022 by two industry associations, accusing the companies of colluding to boost their market share on the backdrop of fuel price increases triggered by the conflict between Russia and Ukraine.No evidence of companies' collusion was found, said the CNMC.BP, Repsol, and Cepsa, currently known as Moeve, did not respond to' requests for comments.

$BP

Equities63d ago

Spanish Competition Watchdog Closes Investigation on BP, Repsol, Moeve

Spain's National Commission for Markets and Competition terminated its investigation of BP (BP.L), Repsol (REP.MC), and Moeve, formerly Cepsa, for alleged price-fixing agreements and abuse of dominant market position.The regulator decided not to launch sanctions proceedings against the oil companies after finding no evidence they shared information or colluded to boost their market share as fuel prices rose after Russia invaded Ukraine in 2022, according to a Tuesday release.However, the watchdog fined Repsol 20.5 million euros in January in a separate case for abusing its dominant position in the wholesale market for diesel distribution to gas stations.

$BP.L$REP.MC

Equities63d ago

Constellation Oil Services Plans Retail Secondary Offering

Constellation Oil Services (COSH.OL) said Tuesday its managers will conduct a retail secondary offering of existing Norwegian depositary receipts as part of its plan to list on the Oslo Børs.The offshore oil and gas contract drilling services provider noted that the offering is expected to result in sale proceeds of up to 1 million Norwegian kroner, but the company will not receive any of the proceeds.

$COSH.OL

Equities63d ago

Goldman Sachs Adjusts PT on EOG Resources to $135 From $133, Maintains Neutral Rating

EOG Resources (EOG) has an average rating of overweight and mean price target of $154.73, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$EOG

Equities63d ago

Goldman Sachs Adjusts Price Target on APA to $31 From $30, Maintains Sell Rating

$APA

Equities63d ago

Vaalco Energy Kicks Off Production at Etame 14H Well Offshore Gabon

Vaalco Energy (EGY.L) completed drilling and started production at the Etame 14H development well within the Main Fault block of the Etame field offshore Gabon.The well achieved an initial flow rate of 4,850 gross barrels of oil per day, including 2,850 barrels of oil per day net to Vaalco, the London-listed oil and gas company said Tuesday.The company said it also began drilling on the EEBOM-5H development well.

$EGY.L

Equities63d ago

Aldrees Petroleum and Transport Services Posts Higher Q1 Net Profit, Revenue

Aldrees Petroleum and Transport Services Co. (SASE:4200) said Tuesday that its net profit and revenue climbed year over year for the first quarter.Net profit attributable to shareholders for the three months ended March 31 was 110.1 million Saudi riyals, compared with 101.1 million riyals earlier. EPS moved to 1.1 riyals from 1.01 riyals.The Saudi Arabia-listed gasoline service station operator's revenue was 6.83 billion riyals, compared with 5.83 billion riyals a year ago.

SASE:4200

Equities63d ago

Moody's Outlook on EnQuest Brightens on Better Liquidity, Performance, Credit Metrics

Moody's changed its outlook on EnQuest (ENQ.L) to positive from stable, citing the improvements in the company's liquidity, operational performance and credit metrics.In a Monday note, the rating agency highlighted the British oil and gas company's bond refinancing plan, saying the initiative will remove near-term refinancing risks and add four years to the company's debt maturity profile.Moody's affirmed the company's corporate family rating at B3, citing its business profile and the challenging energy market conditions.

$ENQ.L

Equities63d ago

Fitch Assigns First-time Rating to EnQuest; Stable Outlook

Fitch Ratings on Monday assigned a long-term issuer default rating of B to EnQuest (ENQ.L), with a stable outlook.The rating reflects the energy transition company's position as a small-scale independent producer, with output expected to remain broadly flat through 2030. Production and transportation costs are also expected to remain high, weighing on unit profitability and increasing break-even prices for assets.However, Fitch said these constraints are partially offset by EnQuest's improving geographic diversification, moderate financial leverage, and solid operational record.

$ENQ.L

Equities64d ago

Delek US Keeps Quarterly Dividend at $0.255 a Share, Payable on May 8 to Shareholders of Record on May 1

$DK

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Equities63d ago

BASF Price Target, Estimates Up as Berenberg Forecasts 'Surprisingly Good' FY26

$BAS.F$HBR.L$WCH.F