But with today's oil prices below the cash cost of production , the analysts said companies would be forced to shut in wells. They projected the number of rigs would fall by two-thirds, relative to early March, which would relieve some pressure on demand.
Goldman also lists its "next rung down" picks: Suncor Energy , WPX Energy , Plains All American Pipeline , Halliburton , and Marathon Petroleum . In addition to Pioneer Natural Resources and EOG Resources, the bank gave Concho Resources , Parsley Energy , and Diamondback Energy as buy ratings.And what about stocks to avoid?
The bank prefers Chevron over Exxon Mobil because of a "relatively stronger balance sheet position and lower Brent price required to cover the dividend — a core priority for both companies which have recently slashed 2020 spend levels to better protect their payout."Companies that refine crude oil into fuels and other petrochemicals "remain under pressure" because of weak demand, the bank said.
Goldman said these companies in North America were "right-sizing" for the downturn by cutting costs, which could give way to "a far healthier North American" market starting in the second half of next year and into 2022, relative to last year.
Lol.
Vamos Oil...
That is confirmed now, Goldman Sachs is shorting Energy stocks.
Oman_GC
yes buy cameconews an amazing Saskatchewan company that provides more energy than Saudi's do
Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Stock picks to buy: Quality at a reasonable price list from Goldman Sachs - Business InsiderGoldman Sachs recommends investors buy 'quality at a reasonable price.' Here's are the firm's top 10 stock picks that fit the bill. Quality at a reasonable price? So stay far away from S&P 500 lol I think the same logic can be applied to angel and seed investments right now. There's a lot of opportunity right now in startups for those willing and able to accept some risk in these uncertain times.
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
Goldman Sachs CIO Marco Argenti on new tech hiring, product management - Business InsiderGoldman Sachs' top tech exec explains how a recent slew of senior hires are transforming the bank's approach to building products and pitching them to customers
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
Goldman Sachs says investors should look to a group of stocks it dubbed the 'GRANOLAS' to profit in the current crisis | Markets InsiderCompanies with a combination of stable growth, low volatility and attractive dividend yields will be the ones that prosper in the coming economi...
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
Goldman lists 5 reasons why traders should load up on energy stocks following oil's historic plunge (XLE)In a note published Monday night, analysts at Goldman Sachs listed five reasons investors should add exposure to energy stocks following oil's h...
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
Stock picks to buy: Quality at a reasonable price list from Goldman Sachs - Business InsiderGoldman Sachs recommends investors buy 'quality at a reasonable price.' Here's are the firm's top 10 stock picks that fit the bill. Quality at a reasonable price? So stay far away from S&P 500 lol I think the same logic can be applied to angel and seed investments right now. There's a lot of opportunity right now in startups for those willing and able to accept some risk in these uncertain times.
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »
Goldman Sachs CIO Marco Argenti on new tech hiring, product management - Business InsiderGoldman Sachs' top tech exec explains how a recent slew of senior hires are transforming the bank's approach to building products and pitching them to customers
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »