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Westhouse highlights attractive oil stocks that can weather crude-price falls

Fri, 21st Nov 2014 11:06

Westhouse Securities has called for investors in the oil and gas sector to be a "bit more patient" with oil prices currently rumbling along at multi-year lows, as it highlighted buying opportunities in the sector.Brent crude has now fallen over 25% to $79 a barrel since hitting a high of $115 a barrel in June on the back of falling demand and rising supply.The broker said that despite the downwards pressure on prices in the near term, there shouldn't be a collapse. "We are in a situation where the oil-price fall needs to be countered by supply changes," it said.The comments came ahead of the pivotal OPEC meeting on 27 November as the market continues to speculate about whether the organisation will decide to address what some observers believe is a supply glut."We do not try to predict OPEC decisions, but we maintain our view that oil is a high-cost commodity, one that cannot trade at low prices for prolonged periods of time," said analyst Jamal Orazbayeva and Mark Henderson."We argue that while there is near-term pressure on the oil price, a lower oil price environment will result in some correction on the supply side and if it does not come from OPEC this time, it will from outside OPEC (we think the US is the most likely)."While hard to predict the exact bottom level of oil and the timing of reversals, the analysts believe that some stocks have already "bottomed out" despite crude prices continuing to fall."We argue that for investors with a bit more patience and perhaps a more contrarian strategy, there is now an opportunity to cherry-pick stocks at large discounts."With some equities having been "oversold", Westhouse said that many stocks will be able to weather the short-term pressure on oil and also have near-term catalysts coming up.These are Ithaca Energy, Genel Energy, Enquest and Circle Oil - all of which are rated 'buy'.Bowleven, Faroe Petroleum and Parkmead are also rated 'buy'. These, the broker believes, are sitting on a material discounted discovered resource base which has a high chance of success.

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Israel's Delek buys 13 pct of Faroe Petroleum for 43 mln pounds

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Faroe Petroleum Gets GBP292.5 Million In New Loan Financing

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Centrica goes ahead with $630 mln oilfield off Norway

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4 Nov 2016 10:30

Faroe Petroleum's partners select Njord facilities for development in Norway

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18 Oct 2016 06:36

RPT-Faroe Petroleum finds oil at Norwegian Sea flank

(Repeats article to additional subscribers, no changes in text) Oct 17 (Reuters) - Faroe Petroleum Plc : ** Njord North Flank oil and gas discovery ** Announce an oil and gas discovery at Njord North Flank in Norwegian Sea (Faroe 7.5 pct) ** Well encountered 102 metres of

21 Sep 2016 10:57

Wednesday broker round-up

(ShareCast News) - Barclays: HSBC upgrades to buy with a target price of 190p. Reckitt Benckiser: UBS keeps at buy, 8000p target. Go-Ahead: Deutsche Bank keeps at buy with a 2330p target. Kingfisher: HSBC reiterates hold with a 365p target. BHP Billition: Barclays keeps at equal-weight with a 990

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Friday broker round-up

(ShareCast News) - Admiral Group: Berenberg reiterates hold with a target price of 1804p. Vodafone: Barclays reiterates overweight, 260p target. Next: HSBC keeps at hold with a 4485p target. Asos: JP Morgan reiterates overweight with a 5400p target. Moneysupermarket: RBC stays at outperform with

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BROKER RATINGS SUMMARY: Exane BNP And Bernstein Upgrade Morrisons

15 Sep 2016 06:55

BUZZ-Pareto Securities predicts more mergers in Norway's oil industry

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11 Aug 2016 08:35

BROKER RATINGS SUMMARY: Barclays Cuts Travis Perkins To Underweight

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DIRECTOR DEALINGS SUMMARY: Faroe Petroleum Directors Buy In Placing

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Faroe Petroleum completes £62m raising to buy Norway assets

(ShareCast News) - Faroe Petroleum said it had completed its £62m raising to buy five Norwegian oil and gas fields. The independent oil and gas company focusing principally on exploration, appraisal, development and production opportunities in Norway and the UK, said 88.5m shares were placed at 70 e

15 Jul 2016 09:46

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Westhouse highlights attractive oil stocks that can weather crude-price falls

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