ENERGY
STOCKS

UPGRADES & DOWNGRADES
   
 

Get the latest upgrades, downgrades and price target changes on Canadian and US energy stocks from major financial institutions. Ratings and price targets updated daily.

 

UPGRADES

  • Pengrowth Energy (TSX:PGF): Upgraded from Underperform to Sector Perform at RBC.
  • Teck Resources (NYSE:TECK): Upgraded from Hold to Buy at Deutsche Bank. The company increased its price target from US$24 to US$25.
  • Teck Resources (TSX:TECK/B): Upgraded from Hold to Buy at Berenberg Bank. The company increased its price target from $34.50 to $36.

PRICE TARGET CHANGES

  • Pengrowth Energy (TSX:PGF): Price target decreased from $2 to $1.75 at Raymond James Financial and from $1.60 to $1.40 at TD Securities.
  • Royal Dutch Shell (LSE:RDS/B): Price target decreased from GBX2800 to GBX2750 at Barclays.

WEEK ENDING MARCH 17, 2017

UPGRADES

  • Bonterra Energy (TSX:BNE): Upgraded from Sector Perform to Outperform at AltaCorp Capital.
  • Clean Harbors (NYSE:CLH): Upgraded from Market Perform to Outperform at CIBC and Oppenheimer Holdings.
  • Kinder Morgan (NYSE:KMI): Upgraded from Hold to Overweight at US Capital Advisors.
  • Occidental Petroleum (NYSE:OXY): Upgraded from Neutral to Buy at Bank of America.
  • Penn West Petroleum (TSX:PWT): Upgraded from Hold to Buy at TD Securities. The company increased its price target from $2.75 to $3.
  • Trinidad Drilling (TSX:TDG): Upgraded from Sector Perform to Outperform at Scotiabank. The company increased its price target from $3.25 to $3.75.

PRICE TARGET CHANGES

  • Bellatrix Exploration (TSX:BXE): Price target decreased from $1.50 to $1.45 at TD Securities.
  • Bonterra Energy (TSX:BNE): Price target decreased from $32 to $26 at BMO.
  • Canadian Natural Resources (TSX:CNQ): Price target increased from $49 to $52 at Barclays.
  • Cardinal Energy (TSX:CJ): Price target decreased from $13 to $11 at BMO, from $12 to $11.50 at Scotiabank and from $12 to $11 at RBC.
  • Parex Resources (TSX:PXT): Price target increased from $20 to $21 at RBC.
  • Penn West Petroleum (TSX:PWT): Price target decreased from $3 to $2.75 at Raymond James Financial.
  • Perpetual Energy (TSX:PMT): Price target decreased from $2.50 to $2 at TD Securities.
  • Pine Cliff Energy (TSX:PNE): Price target decreased from $1.75 to $1.50 at Canaccord Genuity.
  • Royal Dutch Shell (LSE:RDS/B): Price target increased from GBX2500 to GBX2600 at RBC.
  • TransCanada (TSX:TRP): Price target decreased from $70 to $68 at GMP Securities.

WEEK ENDING MARCH 10, 2017

UPGRADES

  • Bellatrix Exploration (TSX:BXE): Upgraded from Hold to Speculate Buy at Canaccord Genuity.
  • Bonavista Energy (TSX:BNP): Upgraded from Hold to Buy at GMP Securities.
  • Petrus Resources (TSX:PRQ): Upgraded from Sector Perform to Outperform at RBC.
  • Marathon Oil (NYSE:MRO): Upgraded from Neutral to Positive at Susquehanna.

DOWNGRADES

  • Valero Energy Partners (NYSE:VLP): Downgraded from Buy to Hold at Jefferies.

PRICE TARGET CHANGES

  • Baytex Energy (TSX:BTE): Price target decreased from $6.50 to $6 at TD Securities, from $8 to $7 at RBC and from $6 to $5.75 at CIBC.
  • Bellatrix Exploration (TSX:BXE): Price target increased from $1.35 to $1.50 at TD Securities.
  • Canadian Natural Resources (TSX:CNQ): Price target increased from $45 to $50 at Scotiabank, from $51 to $53 at Raymond James, from $52 to $57 and form $ 55 to $60 at RBC.
  • Cenovus Energy (NYSE:CVE): Price target decreased from US$13 to US$12 at Goldman Sachs.
  • Gibson Energy (TSX:GEI): Price target increased from $19 to $20 at TD Securities.
  • Marathon Oil (NYSE:MRO): Price target decreased from US$20 to US$21 at RBC.
  • ExxonMobil (NYSE:XOM): Price target decreased from US$90 to US$85 at HSBC.
  • Painted Pony (TSX:PPY): Price target decreased from $16 to $14.50 at TD Securities, from $10 to $9 at Desjardins, from $11.50 to $10 at Scotiabank, from $11 to $10 at RBC and from $10 to $8.50 at CIBC.
  • Seven Generations (TSX:VII): Price target decreased from $38 to $35 at RBC.
  • Trilogy Energy (TSX:TET): Price target increased from $7.75 to $7.25 at GMP Securities.

WEEK ENDING MARCH 3, 2017

UPGRADES

  • ExxonMobil (NYSE:XOM): Upgraded from Underperform to Neutral at Credit Suisse. The company increased its price target from US$78 to US$83.
  • Williams Co (NYSE:WMB): Upgraded from Buy to Conviction Buy at Goldman Sachs.

PRICE TARGET CHANGES

  • BP (LSE:BP): Price target increased from GBX460 to GBX480 at Goldman Sachs and from GBX505 to GBX510 at Kepler Capital Markets.
  • Canadian Natural Resources (TSX:CNQ): Price target increased from $52 to $55 at RBC.
  • Husky Energy (TSX:HSE): Price target decreased from $23 to $21 at Barclays and from $22 to $20 at TD Securities.
  • Pembina Pipeline (TSX:PPL): Price target increased from $46 to $48 at TD Securities.
  • PraireSky Royalty (TSX:PSK): Price target increased from $33 to $35 at TD Securities.
  • Tamarack Valley Energy (TSX:TVE): Price target decreased from $5 to $4.50 at Canaccord Genuity.
  • Trinidad Drilling (TSX:TDG): Price target decreased from $5 to $4.50 at RBC.
  • Veresen (TSX:VSN): Price target increased from $13 to $14 at BMO.

WEEK ENDING FEBRUARY 24, 2017

UPGRADES

  • PrairieSky Royalty (TSX:PSK): Upgraded from Hold to Buy at TD Securities.
  • PetroChina (NYSE:PTR): Upgraded from Underperform to Buy at Jefferies Group.
  • Precision Drilling (TSX:PD): Upgraded from Underperform to Sector Perform at Scotiabank.
  • Total (NYSE:TOT): Upgraded from Buy to Conviction Buy at Goldman Sachs Group.

DOWNGRADES

  • Encana (TSX:ECA): Downgraded from Buy to Hold at GMP Securities.

PRICE TARGET CHANGES

  • Baker Hughes (NYSE:BHI): Price target increased from US$62 to US$65 at FBR & Co.
  • BlackPearl Resources (TSX:PXX): Price target increased from $1.75 to $2 at TD Securities.
  • Calfrac Well Services (TSX:CFW): Price target decreased from $6.25 to $5.75 at CIBC and from $5.25 to $4.75 at Canaccord Genuity.
  • Clean Harbors (NYSE:CLH): Price target increased from US$60 to US$65 at Stifel Nicolaus and from US$55 to US$61 at Needham & Co.
  • Enbridge (TSX:ENB): Price target decreased from $69 to $67 at RBC, increased from $62 to $64 at TD Securities, from $61 to $62 at Scotiabank and from $64 to $66 at GMP Securities.
  • Enerplus Corp (TSX:ERF): Price target increased from $15.50 to $16 at Raymond James Financial.
  • Granite Oil Corp (TSX:GXO): Price target increased from $7.50 to $8 at TD Securities and from $10 to $10.50 at Raymond James Financial.
  • Halliburton (NYSE:HAL): Price target increased from US$69 to US$70 at FBR & Co.
  • Imperial Oil (TSX:IMO): Price target decreased from $51 to $50 at TD Securities.
  • Inter Pipeline (TSX:IPL): Price target increased from $31 to $32 at RBC, from $31 to $33 at TD Securities.
  • Schlumberger (NYSE:SLB): Price target increased from US$105 to US$107 at FBR & Co.
  • Teck Resources (TSX:TECK/B): Price target decreased from $36 to $34 at Barclays.
  • Trican Well Services (TSX:TCW): Price target increased from $5.75 to $6.75 at CIBC.
  • Western Energy Services (TSX:WRG): Price target decreased from $3.50 to $3.25 at Canaccord Genuity.
  • Veresen (TSX:VSN): Price target increased from $17 to $18 at National Bank Financial, from $13 to $14 at Desjardins and from $15 to $16 at RBC.

WEEK ENDING FEBRUARY 17, 2017

UPGRADES

  • Cenovus Energy (TSX:CVE): Upgraded from Hold to Buy at Societe Generale.
  • Devon Energy (NYSE:DVN): Upgraded from Hold to Buy at Societe Generale.
  • Gran Tierra Energy (TSX:GTE): Upgraded from Neutral to Outperform at CIBC.

DOWNGRADES

  • Teck Resources (TSX:TECK/B): Downgraded from Buy to Hold at Deutsche Bank.

PRICE TARGET CHANGES

  • Cenovus Energy (TSX:CVE): Price target decreased from $23 to $22 at TD Securities.
  • Devon Energy (NYSE:DVN): Price target increased from US$56 to US$54 at Deutsche Bank.
  • Gibson Energy (TSX:GEI): Price target increased from $17 to $18.50 at Scotiabank.
  • Kelt Exploration (TSX:KEL): Price target increased from $9.50 to $10.50 at TD Securities.
  • Paramount Resources (TSX:POU): Price target increased from $22 to $23 at RBC.
  • Teck Resources (TSX:TECK/B): Price target decreased from $43 to $39.50 at Canaccord Genuity.
  • TransCanada (TSX:TRP): Price target increased from $74 to $75 at TD Securities.

WEEK ENDING FEBRUARY 10, 2017

UPGRADES

  • Altagas (TSX:ALA): Upgraded from Neutral to Outperform at Macquarie.
  • ARC Resources (TSX:ARX): Upgraded from Hold to Buy at TD Securities and from Sector Perform to Outperform at National Bank Financial.
  • Baker Hughes (NYSE:BHI): Upgraded from Neutral to Positive at Susquehanna.
  • Enerplus (TSX:ERF): Upgraded from Market Perform to Outperform at BMO Capital Markets.
  • Gran Tierra Energy (TSX:GTE): Upgraded from Neutral to Outperform at Credit Suisse.
  • MEG Energy (TSX:MEG): Upgraded from Market Perform to Outperform at Raymond James. The company lowered its price target from $8.50 to $8 a share.
  • Precision Drilling (TSX:PD): Upgraded from Underperform to Market Perform at Raymond James. The company increased its price target from $6.50 to $8.25 a share.
  • Total (NYSE:TOT): Upgraded from Hold to Buy at Deutsche Bank.

DOWNGRADES

  • Mullen Group (TSX:MTL): Downgraded from Buy to Hold at Canaccord Genuity.

PRICE TARGET CHANGES

  • Advantage Oil & Gas (TSX:AAV): Price target increased from $11 to $13 at Credit Suisse.
  • ARC Resources (TSX:ARX): Price target decreased from $28 to $27 at RBC and from $30.50 to $30 a share at GMP Securities.
  • Birchcliff Energy (TSX:BIR): Price target increased from $13.50 to $14 at TD Securities and from $9.75 to $10 at Credit Suisse.
  • Altagas (TSX:ALA): Price target decreased from $35 to $33 at Canaccord Genuity.
  • BP (LSE:BP): Price target decreased from GBX530 to GBX510 at Credit Suisse, from GBX520 to GBX505 at Kepler Capital Markets, from GBX490 to GBX470 at RBC and from GBX550 to GBX525 at Canaccord Genuity.
  • Gibson Energy (TSX:GEI): Price target increased from $17 to $19 at CIBC.
  • Inter Pipeline (TSX:IPL): Price target increased from $31 to $32 at CIBC.
  • Keyera (TSX:KEY): Price target increased from $47 to $48 at CIBC.
  • Mullen Group (TSX:MTL): Price target decreased from $24 to $23 at TD Securities.
  • Parex Resources (TSX:PXT): Price target increased from $19 to $20 at RBC, from $16.75 to $19 at Mackie and from $19.50 to $20 at TD Securities.
  • Pembina Pipeline (TSX:PPL): Price target increased from $47 to $48 at CIBC.
  • Phillips 66 (NYSE:PSX): Price target increased from US$55 to US$63 at Mizuho and from US$87 to US$88 at RBC.
  • Precision Drilling (TSX:PD): Price target increased from $10.50 to $11 at CIBC.
  • Royal Dutch Shell (LSE:RDS/B): Price target increased from GBX2000 to GBX2050 at Canaccord Genuity.
  • Tesoro (NYSE:TSO): Price target increased from US$99 to US$94 at RBC.
  • TransCanada (TSX:TRP): Price target increased from $66 to $68 at CIBC.
  • Versen (TSX:VSN): Price target increased from $14 to $16 at CIBC.

WEEK ENDING FEBRUARY 3, 2017

UPGRADES

  • Anadarko Petroleum (NYSE:APC): Upgraded from Underweight to Neutral at Atlantic Securities.
  • Athabasca Oil Corp (TSX:ATH): Upgraded from Hold to Buy at TD Securities. The company increased its price target from $1.75 to $2.75.
  • BP (NYSE:BP): Upgraded from Hold to Buy at Societe Generale.
  • Canadian Natural Resources (TSX:CNQ): Upgraded from Hold to Buy at Desjardins.
  • Clean Harbors (NYSE:CLH): Upgraded from Sector Weight to Overweight at KeyCorp.
  • Marathon Oil (NYSE:MRO): Upgraded from Sector Perform to Outperform at Scotiabank.
  • Nuvista Energy (TSX:NVA): Upgraded from Sector Perform to Outperform at National Bank Financial.
  • Precision Drilling Corp (TSX:PD): Upgraded from Neutral to Overweight at JP Morgan Chase.
  • Tesoro (NYSE:TSO): Upgraded from Neutral to Overweight at JP Morgan Chase.

DOWNGRADES

  • Enbridge Energy Partners (NYSE:EEP): Downgraded from Buy to Neutral at Mizuho. The company lowered its price target from US$29 to US$22.
  • Marquee Energy (TSX:MQL): Downgraded from Outperform to Sector Perform at National Bank Financial.
  • Royal Dutch Shell (NYSE:RDS/A): Downgraded from Buy to Hold at Societe Generale.

PRICE TARGET CHANGES

  • Bonavista Energy (TSX:BNP): Price target increased from $6.50 to $7.50 at TD Securities.
  • BP (LSE:BP): Price target decreased from GBX460 to GBX440 at Macquarie.
  • MEG Energy (TSX:MEG): Price target increased from $6 to $8 at BMO.
  • Royal Dutch Shell (LSE:RDS/A): Price target increased from GBX2650 to GBX2800 at Barclays.
  • Secure Energy Services (TSX:SES): Price target increased from $12 to $13.15 at Raymond James Financial.
  • Valero Energy (NYSE:VLO): Price target decreased from US$95 to US$85 at Barclays and from US$55 to US$58 at Mizuho.

WEEK ENDING JANUARY 27, 2017

UPGRADES

  • Canadian Natural Resources (TSX:CNQ): Upgraded from Hold to Buy at TD Securities.
  • Encana (TSX:ECA): Upgraded from Neutral to Outperform at Macquarie.
  • Husky Energy (TSX:HSE): Upgraded from Neutral to Buy at Goldman Sachs Group. The company increased its price target from $18 to $20.
  • Phillips 66 (NYSE:PSX): Upgraded from Hold to Buy at Citigroup.
  • Teck Resources (TSX:TECK/B): Upgraded from Market Perform to Outperform at FBR & Co. The company increased its price target from $33 to $38.
  • Williams Cos (NYSE:WMB): Upgraded from Hold to Buy at Jefferies Group. The company increased its price target from US$32 to US$33.
  • Williams Partners (NYSE:WPZ): Upgraded from Market Perform to Outperform at BMO.

DOWNGRADES

  • Cenovus Energy (TSX:CVE): Downgraded from Neutral to Underperform at Macquarie.
  • Husky Energy (TSX:HSE): Downgraded from Outperform to Sector Perform at RBC. The company has a price target of $18.
  • Imperial Oil (TSX:IMO): Downgraded from Neutral to Underperform at Macquarie.
  • Peyto Exploration & Development Corp (TSX:PEY): Downgraded from Overweight to Equal Weight at Barclays. The company increased its price target from $36 to $34.
  • Suncor Energy (TSX:SU): Downgraded from Outperform to Neutral at Macquarie.

PRICE TARGET CHANGES

  • Advantage Oil & Gas (TSX:AAV): Price target decreased from $11 to $10 at CIBC.
  • ARC Resources (TSX:ARX): Price target decreased from $28 to $26 at Barclays.
  • Baytex Energy (TSX:BTE): Price target decreased from $7 to $6 at Barclays.
  • Birchcliff Energy (TSX:BIR): Price target increased from $11.50 to $12 at CIBC.
  • Bonavista Energy (TSX:BNP): Price target increased from $5 to $5.50 at CIBC.
  • Calfrac Well Services (TSX:CFW): Price target increased from $4.25 to $6.25 at CIBC.
  • Cenovus Energy (TSX:CVE): Price target decreased from $25 to $24 at CIBC.
  • Crescent Point Energy Corp (TSX:CPG): Price target decreased from $22 to $21 at Barclays and from $22 to $20 at CIBC.
  • Crew Energy (TSX:CR): Price target decreased from $7.50 to $7 at CIBC.
  • Enerflex (TSX:EFX): Price target increased from $19 to $22 at CIBC.
  • Enbridge (TSX:ENB): Price target increased from $63 to $66 at National Bank Financial.
  • Enerplus (TSX:ERF): Price target increased from $13.50 to $14.50 at CIBC.
  • Ensign Energy Services (TSX:ESI): Price target increased from $9.25 to $12.50 at CIBC.
  • Gibson Energy (TSX:GEI): Price target increased from $17 to $18 at National Bank Financial.
  • Gran Tierra Energy (TSX:GTE): Price target decreased from $4.75 to $4.50 at CIBC.
  • Inter Pipeline (TSX:IPL): Price target increased from $30 to $31 at National Bank Financial.
  • Kelt Exploration (TSX:KEL): Price target increased from $6.50 to $7 at CIBC.
  • Keyera (TSX:KEY): Price target increased from $48 to $49 at National Bank Financial.
  • MEG Energy (TSX:MEG): Price target decreased from $11.50 to US$11 at TD Securities, from $10 to $9 at Scotiabank and increased from $10 to $12 at RBC.
  • Mullen Group (TSX:MTL): Price target increased from $20 to $23 at CIBC.
  • NuVista Energy (TSX:NVA): Price target increased from $8 to $8.75 at CIBC.
  • Paramount Resources (TSX:POU): Price target increased from $17 to $18 at Barclays and from $15.50 to $16 at CIBC.
  • Pembina Pipeline (TSX:PPL): Price target increased from $43 to $44 at National Bank Financial.
  • Peyto Exploration & Development (TSX:PEY): Price target decreased from $40 to $33 at CIBC.
  • PraireSky Royalty (TSX:PSK): Price target increased from $31 to $32 at Barclays and from $35 to $38 at CIBC.
  • Precision Drilling (TSX:PD): Price target increased from $9 to $10.50 at CIBC.
  • Raging River Exploration (TSX:RRX): Price target increased from $13 to $13.50 at CIBC.
  • Royal Dutch Shell (LSE:RDS/A): Price target increased from GBX2600 to GBX2750 at Morgan Stanley.
  • Savanna Energy Services (TSX:SVY): Price target increased from $2.50 to $3 at CIBC.
  • Secure Energy Services (TSX:SES): Price target increased from $11 to $13 at CIBC.
  • Seven Generations Energy (TSX:VII): Price target decreased from $42 to $38 at Barclays and increased from $38 to $40 at BMO.
  • Suncor Energy (TSX:SU): Price target increased from $45 to $50 at CIBC.
  • Teck Resources (TSX:TECK/B): Price target decreased from $48 to $32 at JPMorgan Chase & Co.
  • Torc Oil & Gas (TSX:TOG): Price target decreased from $9.50 to $9 at CIBC.
  • TransCanada (TSX:TRP): Price target increased from $63 to $66 at National Bank Financial.
  • Trican Well Service (TSX:TCW): Price target increased from $6 to $7 at RBC.
  • Vermilion Energy (TSX:VET): Price target increased from $63 to $66 at Barclays and from $57.50 to $60 at CIBC.
  • Western Energy Services (TSX:WRG): Price target increased from $4.50 to $5 at CIBC.
  • Whitecap Resources (TSX:WCP): Price target decreased from $14 to $13 at Barclays and from $13.50 to $15 at CIBC.
  • William Cos (NYSE:WMB): Price target decreased from US$36 to US$35 at Goldman Sachs Group.

 


WEEK ENDING JANUARY 20, 2017

UPGRADES

  • Devon Energy (NYSE:DVN): Upgraded from Accumulate to Buy at KLR Group.
  • Encana (TSX:ECA): Upgraded from Accumulate to Buy at KLR Group.
  • ENI (NYSE:E): Upgraded from Hold to Buy at Jefferies Group.
  • Precision Drilling (TSX:PD): Upgraded from Hold to Buy at Deutsche Bank.

DOWNGRADES

  • Cimarex Energy (NYSE:XEC): Downgraded from Buy to Hold at Jefferies Group and from Accumulate to Hold at KLR Group.
  • Devon Energy (NYSE:DVN): Downgraded from Buy to Hold at Jefferies Group.
  • ExxonMobil (NYSE:XOM): Downgraded from Neutral to Sell at UBS.
  • Valero Energy (NYSE:VLO): Downgraded from Buy to Neutral at Citigroup.

PRICE TARGET CHANGES

  • BP (LSE:BP): Price target increased from GBX430 to GBX500 at Jefferies Group.
  • NuVista Energy (TSX:NVA): Price target increased from $7.50 to $8 at BMO.
  • Royal Dutch Shell (LSE:RDS/A): Price target increased from GBX2450 to GBX2700 at Jefferies Group and from GBX2371 to GBX2460 at Goldman Sachs.
  • Sanchez Energy (NYSE:SN): Price target increased from US$11 to US$15 at Canaccord Genuity and from US$11 to US$13 at RBC.
  • Trilogy Energy (TSX:TET): Price target increased from $7.25 to $7.75 at GMP Securities and from $6 to $7 at Barclays.

WEEK ENDING JANUARY 13, 2017

UPGRADES

  • ConocoPhillips (NYSE:COP): Upgraded from Hold to Buy at Societe Generale.
  • ENI (NYSE:E): Upgraded from Underperform to Neutral at BNP Paribas.
  • Encana Corp (TSX:ECA): Upgraded from Sell to Hold at Societe Generale.
  • PrairieSky Royalty (TSX:PSK): Upgraded from Hold to Buy at GMP Securities.
  • Teck Resources (TSX:TECK/B): Upgraded from Sector Perform to Outperform at Scotiabank. The company increased its price target from $35 to $37.

DOWNGRADES

  • Crew Energy (TSX:CR): Downgraded from Outperform to Sector Perform at RBC.
  • Devon Energy Corp (TSX:DVN): Downgraded from Outperform to Market Perform at Wells Fargo.
  • ExxonMobil (NYSE:XOM): Downgraded from Outperform to Market Perform at Wells Fargo & Company.
  • Valero Energy Corp (NYSE:VLO): Downgraded from Buy to Hold at Jefferies Group.
  • Williams Companies (NYSE:WMB): Downgraded from Overweight to Equal Weight at Barclays and from Buy to Hold at Jefferies. Barclays increased its price target from US$35 to US$28 while Jeffries lowered its price target from US$35 to US$32.

PRICE TARGET CHANGES

  • Anadarko Petroleum Corp (NYSE:APC): Price target increased from US$81 to US$82 at RBC.
  • BP (LSE:BP): Price target increased from GBX540 to GBX590 at HSBC.
  • Calfrac Well Services (TSX:CFW): Price target increased from $3.25 to $6.50 at BMO, from $2.50 to $5.50 at Simmons and from $4.25 to $5.25 at Canaccord Genuity.
  • Canadian Energy Services & Technology Corp (TSX:CEU): Price target increased from $6.50 to $9 at BMO.
  • DCP Midstream Partners (NYSE:DPM): Price target increased from US$35 to US$38 at Janney.Enerflex (TSX:EFX): Price target increased from $18 to $21 at BMO.
  • Ensign Energy Services (TSX:ESI): Price target increased from $9 to $10 at BMO and from $10 to $10.50 at Canaccord Genuity.
  • Essential Energy Services (TSX:ESN): Price target increased from $0.85 to $0.95 at Canaccord Genuity.
  • Halliburton (NYSE:HAL): Price target increased from US$58 to US$69 at FBR & Co.
  • MEG Energy (TSX:MEG): Price target decreased from $9 to $8.50 at Raymond James.
  • Mullen Group (TSX:MTL): Price target increased from $20 to $22 at BMO and from $22 to $23 at Canaccord Genuity.
  • Pengrowth Energy Corp (TSX:PGF): Price target increased from $1.20 to $1.60 at TD Securities.
  • Penn West Petroleum (TSX:PWT): Price target increased from $2.50 to $3 at Barclays.
  • PrairieSky Royalty (TSX:PSK): Price target increased from $33 to $36 at Canaccord Genuity and from $34.50 to $36 at Scotiabank.
  • Precision Drilling (TSX:PD): Price target increased from $8.50 to $9 at BMO and from $8.50 to $8.75 at Canaccord Genuity.
  • Royal Dutch Shell (LSE:RDS/A): Price target increased from GBX2360 to GBX2600 at HSBC.
  • Secure Energy Services (TSX:SES): Price target increased from $13 to $14 at Canaccord Genuity and from $11 to $13.50 at BMO.
  • Seven Generations Energy (TSX:VII): Price target decreased from $48 to $47 at National Bank and from $40 to $38 at GMP Securities.
  • Total Energy Services (TSX:TOT): Price target increased from $16 to $17 at CIBC, from $15 to $16 at BMO and from $17 to $18 at Canaccord Genuity.
  • Trican Well Service (TSX:TCW): Price target increased from $3.75 to $5.75 at CIBC, from $4 to $6.15 at Raymond James, from $6 to $7 at GMP Securities and from $5 to $6.50 at Canaccord Genuity.
  • Trinidad Drilling (TSX:TDG): Price target increased from $4 to $4.50 at Canaccord Genuity and $3 to $3.75 at BMO.
  • Western Energy Services (TSX:WRG): Price target increased from $3 to $3.50 at Canaccord Genuity.
  • Williams Companies (NYSE:WMB): Price target increased from US$39 to US$33 at RBC.

WEEK ENDING JANUARY 6, 2017

UPGRADES

  • Altagas (TSX:ALA): Upgraded from Neutral to Outperform at CIBC. The company increased its price target from $35 to $37.
  • Chevron (NYSE:CVX): Upgraded from Neutral to Buy at Bank of America.
  • Kelt Exploration (TSX:KEL): Upgraded from Outperform to Strong Buy at Raymond James. The company increased its price target from $9 to $10.
  • Parkland Fuel Corp (TSX:PKI): Upgraded from Neutral to Outperform at CIBC.
  • Precision Drilling (NYSE:PDS): Upgraded from Underperform to Neutral at Credit Suisse and from Neutral to Overweight at Piper Jaffray Companies. The company increased its price target from US$4.25 to US$6.
  • Royal Dutch Shell (NYSE:RDS/B): Upgraded from Sector Perform to Outperform at RBC.
  • Valero Energy (NYSE:VLO): Upgraded from Neutral to Buy at BofA. The company increased its price target from US$68 to US$86.

DOWNGRADES

  • Anadarko Petroleum (NYSE:APC): Downgraded from Outperform to Market Perform at Raymond James.
  • Baker Hughes (NYSE:BHI): Downgraded from Positive to Neutral at Susquehanna and from Outperform to Neutral at Credit Suisse. Credit Suisse increased its price target from US$61 to US$65.
  • Chinook Energy (TSX:CKE): Downgraded from Speculative Buy to Hold at GMP securities.
  • Imperial Oil (TSX:IMO): Downgraded from Buy to Hold at TD Securities. The company increased its price target from $50 to $51.
  • Valero Energy (NYSE:VLO): Downgraded from Buy to Hold at Deutsche Bank.

PRICE TARGET CHANGES

  • Anadarko Petroleum (NYSE:APC): Price target decreased from US$80 to US$70 at Citigroup.
  • Bellatrix Exploration (TSX:BXE): Price target increased from $1.25 to $1.40 at TD Securities.
  • BP plc (LSE:BP): Price target increased from GBX 505 to GBX515 at Goldman Sachs.
  • Crew Energy (TSX:CR): Price target decreased from $9.50 to $9 at TD Securities.
  • Encana (TSX:ECA): Price target increased from $12 to $14 at CIBC and from $11 to $12 at Scotiabank.
  • Kelt Exploration (TSX:KEL): Price target increased from $7.25 to $8.25 at National Bank, from $9 to $9.50 at TD Securitties and from $8 to $8.50 at Desjardins and Scotiabank.
  • Marathon Petroleum Corp (NYSE:MPC): Price target increased from US$55 to US$63 at Credit Suisse.
  • Whitecap Resources (TSX:WCP): Price target increased from $13 to $14 at Canaccord Genuity.

WEEK ENDING DECEMBER 30, 2016

UPGRADES

  • Bonterra Energy (TSX:BNE): Upgraded from Underperform to Neutral at Versant Partners and CIBC. CIBC increased its price target from $25 to $27.50.
  • BP (NYSE:BP): Upgraded from Neutral to Buy at UBS.
  • Keyera (TSX:KEY): Upgraded from Hold to Buy at Desjardins. The company increased its price target from $43 to $45.
  • Teck Resources (TSX:TECK/B): Upgraded from Neutral to Outperform at Macquarie.
  • Statoil (NYSE:STO): Upgraded from Neutral to Buy at UBS.
  • Sunoco (NYSE:SUN): Upgraded from Neutral to Outperform at Credit Suisse Group and from Market Perform to Outperform at FBR & Co. Credit Suisse increased its price target from US$22.14 to US$31.
  • Williams Cos (NYSE:WMB): Upgraded from Equal Weight to Overweight at Morgan Stanley.

DOWNGRADES

  • Sunoco (NYSE:SUN): Downgraded from Neutral to Buy at Bank of America. The company decreased its price target from US$30 to US$27.

PRICE TARGET CHANGES

  • Advantage Oil & Gas (TSX:AAV): Price target increased from $11 to $11.50 at Desjardins and from $10.50 to $11.50 from BMO.
  • Anadarko Petroleum (NYSE:APC): Price target increased from US$80 to US$81 at RBC.
  • ARC Resources (TSX:ARX): Price target increased from $27 to $29 at Desjardins and decreased from $26 to $25 at BMO.
  • Baytex Energy (TSX:BTE): Price target increased from $7.50 to $8 at Desjardins and from $7 to $8 from BMO.
  • Birchcliff Energy (TSX:BIR): Price target increased from $12 to $13 at BMO.
  • Bonavista Energy (TSX:BNP): Price target increased from $4.75 to $5.75 at BMO.
  • Bonterra Energy (TSX:BNE): Price target increased from $30 to $35 at Paradigm, from $29 to $31 at Desjardins, from $28 to $32 at BMO, from $29 to $30 at Acumen Capital and from $30 to $31.50 at Scotiabank.
  • Calfrac Well Services (TSX:CFW): Price target increased from $4 to $6 at Evercore Partners.
  • Canadian Natural Resources (TSX:CNQ): Price target increased from $49 to $52 at BMO.
  • Cardinal Energy (TSX:CJ): Price target increased from $12 to $13 at BMO.
  • Cenovus Energy (TSX:CVE): Price target increased from $22 to $23 at BMO.
  • Crescent Point Energy (TSX:CPG): Price target increased from $22.50 to $23.50 at Desjardins.
  • Crew Energy (TSX:CR): Price target increased from $7.75 to $9 at Desjardins and from $7.50 to $8.50 at BMO.
  • Enbridge (TSX:ENB): Price target increased from $64 to US$69 at RBC.
  • Encana (TSX:ECA): Price target increased from $14 to $15 at BMO.
  • Enerplus (TSX:ERF): Price target increased from $14.50 to $16.50 at Desjardins.
  • Ensign Energy Services (TSX:ESI): Price target increased from $9 to $11 at Evercore Partners.
  • Gibson Energy (TSX:GEI): Price target increased from $21 to $22 at Desjardins.
  • Imperial Oil (TSX:IMO): Price target increased from $44 to $48 at BMO.
  • Inter Pipeline (TSX:IPL): Price target increased from $28 to $30 at Desjardins.
  • Kelt Exploration (TSX:KEL): Price target increased from $7.50 to $8 at Desjardins and from $7.25 to $8 at BMO.
  • Leucrotta Exploration (TSX:LXE): Price target increased from $2.50 to $2.75 at Desjardins.
  • MEG Energy (TSX:MEG): Price target decreased from $10 to $8 at Desjardins.
  • NuVista Energy (TSX:NVA): Price target increased from $8.50 to $9.50 at Desjardins and decreased from $8.50 to $7.50 at BMO.
  • Painted Pony Petroleum (TSX:PPY): Price target increased from $10 to $12 at Desjardins and decreased from $10 to $9.25 at BMO.
  • Paramount Resources (TSX:POU): Price target increased from $18 to $21 at Desjardins.
  • Pembina Pipeline (TSX:PPL): Price target increased from $46 to $47 at Desjardins.
  • Pengrowth Energy (TSX:PGF): Price target increased from $2.25 to $2.50 at Desjardins.
  • Penn West Petroleum (TSX:PWT): Price target increased from $2.50 to $2.75 at Desjardins.
  • Perpetual Energy (TSX:PMT): Price target increased from $1.75 to $2 at Scotiabank.
  • Peyto Exploration & Development (TSX:PEY): Price target increased from $38.50 to $39 at Desjardins and from $39 to $40 at BMO.
  • Precision Drilling (TSX:EPDSI): Price target increased from $8 to $9 at Evercore Partners.
  • Raging River Exploration (TSX:RRX): Price target increased from $13 to $14 at Desjardins.
  • Spartan Energy (TSX:SPE): Price target increased from $4.25 to $4.75 at Desjardins.
  • Suncor Energy (TSX:SU): Price target increased from $50 to $52 at BMO.
  • Surge Energy (TSX:SGY): Price target increased from $3.50 to $3.75 at BMO.
  • Torc Oil & Gas (TSX:TOG): Price target increased from $10 to $11 at Desjardins and BMO.
  • Tourmaline Oil (TSX:TOU): Price target increased from $42 to $43 at BMO and from $40 to $47 at Desjardins.
  • Trican Well Service (TSX:TCW): Price target increased from $3.50 to $5 at Evercore Partners.
  • Vermillion Energy (TSX:VET): Price target increased from $56.50 to $67 at Desjardins and from $55 to $64 at BMO.
  • Seven Generations Energy (TSX:VII): Price target increased from $35 to $42 at Desjardins.
  • Whitecap Resources (TSX:WCP): Price target increased from $12 to $14 at Desjardins and from $13 to $16 at BMO.

WEEK ENDING DECEMBER 16, 2016

UPGRADES

  • Athabasca Oil Corp (TSX:ATH): Upgraded from Hold to Buy at Desjardins and from Sector Perform to Outperform at RBC.
  • Chevron Corp (NYSE:CVX): Upgraded from Neutral to Outperform at Macquarie. The company increased its price target from US$90 to US$130.
  • ConocoPhillips (NYSE:COP): Upgraded from Hold to Outperform at Cowen & Co. The company increased its price target from US$47 to US$59.
  • Enerplus Corp (TSX:ERF): Upgraded from Sector Perform to Outperform at Scotiabank. The company increased its price target from $11 to $14.
  • Halliburton (NYSE:HAL): Upgraded from Sector Perform to Outperform at Howard Weil. The company increased its price target from US$57 to US$62.
  • Marathon Oil (NYSE:MRO): Upgraded from Hold to Buy at Argus.
  • Perpetual Energy (TSX:PMT): Upgraded from Reduce to Hold at TD Securities. The company increased its price target from $1.70 to $2.25.
  • Teck Resources (TSX:TECK.B): Upgraded from Sector Perform to Outperform at Canaccord Genuity. The company increased its price target from $29 to $43.
  • Tesoro Corp (TSX:TSO): Upgraded from Market Perform to Outperform at Wells Fargo & Co.

DOWNGRADES

  • Baker Hughes (NYSE:BHI): Downgraded from Outperform to Sector Perform at Howard Weil. The company increased its price target from US$64 to US$71.
  • BP (NYSE:BP): Downgraded from Focus List to Outperform at Howard Weil.
  • Cenovus Energy (TSX:CVE): Downgraded from Buy to Hold at Edward Jones.
  • Marathon Oil (NYSE:MRO): Downgraded from Buy to Neutral at Nomura and Instinet.

PRICE TARGET CHANGES

  • ARC Resources (TSX:ARX): Price target increased from $27 to $28 at RBC.
  • Athabasca Oil Corp (TSX:ATH): Price target increased from $1.75 to $3 at RBC, from $2 to $2.50 at BMO, from $2.75 to $3.50 at Raymond James Financial, from $2.50 to $3.25 at Canaccord Genuity and from $1.75 to $2.50 at Desjardins.
  • Baytex Energy (TSX:BTE): Price target increased from $6.50 to $7 at BMO & TD Securities and from $6 to $7.50 at RBC.
  • Birchcliff Energy (TSX:BIR): Price target increased from $12 to $13 at RBC.
  • Bonavista Energy (TSX:BNP): Price target increased from $5 to $6 at RBC.
  • BP (LSE:BP): Price target increased from GBX435 to GBX505 at Goldman Sachs.
  • Calfrac Well Services (TSX:CFW): Price target increased from $4 to $5 at RBC.
  • Canadian Natural Resources (TSX:CNQ): Price target increased from $44 to $48 at Instinet, from $50 to $53 at CIBC and from $51 to $52 at RBC.
  • ConocoPhillips (TSX:COP): Price target increased from US$47 to US$60 at Howard Weil.
  • Crescent Point Energy (TSX:CPG): Price target increased from $20 to $21 at RBC.
  • Crew Energy (TSX:CR): Price target increased from $8 to $9 at RBC.
  • Enerplus Corp (TSX:ERF): Price target increased from $11 to $14 at Raymond James Financial, from $11 to $18 at Canaccord Genuity, from $13 to $14 at RBC, from $13 to $15 at Barclays, from $11 to $13.50 at BMO, from $11.50 to $13.50 at CIBC, from $14 to $15 at CSFB., from $12.50 to $14.50 at Desjardins, from $11 to $14 at Scotiabank and from $12.50 to $15 at TD Securities.
  • Essential Energy Services (TSX:ESN): Price target increased from $0.75 to $0.95 at TD Securities and from $0.65 to $0.85 at Canaccord Genuity.
  • Gran Tierra Energy (TSX:GTE): Price target increased from $3.80 to $3.90 at Goldman Sachs Group.
  • Husky Energy (TSX:HSE): Price target increased from $20 to $21 at TD Securities and from $17 to $18 at Goldman Sachs Group.
  • Imperial Oil (TSX:IMO): Price target increased from $47 to $50 at Goldman Sachs Group.
  • Inter Pipeline (TSX:IPL): Price target increased from $28 to $28.50 at BMO, from $30 to $31 at CIBC, from $29 to $30 at Raymond James Financial and from $30 to $31 at RBC.
  • Kelt Exploration (TSX:KEL): Price target increased from $7 to $8 at RBC.
  • Mullen Group (TSX:MTL): Price target increased from $21 to $24 at TD Securities and from $18.50 to $21.50 at National Bank Financial.
  • Paramount Resources (TSX:POU): Price target increased from $18 to $20 at RBC.
  • Precision Drilling (TSX:PD): Price target increased from $8 to $9 at RBC.
  • Pengrowth Energy (TSX:PGF): Price target increased from $2.25 to $2.50 at Raymond James Financial and from $1.50 to $1.75 at RBC.
  • Perpetual Energy (TSX:PMT): Price target increased from $2 to $2.50 at RBC.
  • Petrus Resources (TSX:PRQ): Price target increased from $2.50 to $3.50 at RBC.
  • Royal Dutch Shell (NYSE:RDS/A): Price target increased from US$53 to US$56 at Howard Weil.
  • Royal Dutch Shell (LSE:RDS/A): Price target increased from GBX2350 to GBX2450 at Macquarie and from GBX2325 to GBX2460 at Goldman Sachs Group.
  • Savanna Energy Services (TSX:SVY): Price target increased from $1.75 to $2.25 at TD Securities and from $2.25 to $2.50 at CIBC.
  • Seven Generations Energy (TSX:VII): Price target increased from $37 to $38 at RBC.
  • Suncor Energy (TSX:SU): Price target increased from $47 to $50 at RBC.
  • Surge Energy (TSX:SGY): Price target increased from $3.50 to $3.75 at National Bank Financial, from $3 to $3.50 at CIBC and from $3 to $3.25 at RBC.
  • Teck Resources (TSX:TECK/B): Price target increased from $34 to $40 at Dundee Securities and from $34 to $35 at Scotiabank.
  • Tourmaline Oil Corp (TSX:TCW): Price target increased from $40 to $42 at RBC.
  • Trican Well Service (TSX:TCW): Price target increased from $3.50 to $5.50 at BMO, from $5 to $6 at RBC and from $4 to $6 at TD Securities.
  • Trinidad Drilling (TSX:TDG): Price target increased from $4 to $5 at RBC.
  • Veresen (TSX:VSN): Price target decreased from $13.50 to $13 at BMO.
  • Vermillion Energy (TSX:VET): Price target increased from $53 to $56 at RBC.