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What's Goldman Saying About Oil Majors And Refiners?

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Exxon Mobil Corporation NYSE:XOM, Cenovus Energy Inc NYSE:CVE - What's Goldman Saying About Oil Majors And Refiners?

This week is a big week for oil majors and refiners. The majority of the names under Goldman Sachs' coverage report Q1 earnings this week.

Analyst Neil Mehta has been using three themes when picking stocks in the space:

As part of this general approach to the sector, Mehta names four other stocks to buy prior to earnings in addition to Exxon: Cenovus Energy Inc (USA) CVE 0.55%, Suncor Energy Inc. (USA) SU 3.2%, Marathon Petroleum Corp MPC 0.25% and PBF Energy Inc PBF 0.6%.

Mehta noted that forward guidance for these companies will likely be more important to the market than Q1 results.

“Given depressed 1Q2016 crude prices and crack spreads, we believe investors will be willing to look through first quarter results, if there is positive go-forward commentary,” he explained.

Other Ratings

In addition to the five names to buy ahead of earnings, Goldman also has Sell ratings on Phillips 66 PSX 0.34%, CVR Energy, Inc. CVI 3.63% and CVR Refining LP CVRR 1.21%.

Disclosure: The author holds no position in the stocks mentioned.

DateFirmActionFromTo
May 2016Credit SuisseMaintainsUnderperform
Apr 2016BarclaysMaintainsEqualweight
Mar 2016Deutsche BankMaintainsHold

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