Analyst downgrades: BP, COP, CVX, WYE and XOM

Posted Aug 6th 2007 10:42AM by Kevin Shult
Filed under: Exxon Mobil (XOM), Chevron Corp (CVX), ConocoPhillips (COP), BP p.l.c. ADS (BP)

MOST NOTEWORTHY: Wyeth (WYE), Luminent Mortgage Capital (LUM), CheckFree (CKFR), EOG Resources (EOG) and K-Swiss (KSWS) were today's noteworthy downgrades:

Cowen downgraded Wyeth (NYSE: WYE) to Neutral from Outperform based on limited long-term limited visibility.

JP Morgan downgraded shares of Luminent Mortgage (NYSE: LUM) to Underweight from Neutral citing difficult CMO and CDO market conditions.

JP Morgan downgraded CheckFree (NASDAQ: CKFR) to Neutral from Overweight following the company's acquisition by FiServ (FISV).

Matrix cut shares of EOG Resources (NYSE: EOG) to Sell from Buy to reflect lower natural gas prices and increasing costs.

Matrix believes soft demand for athletic shoes is leading to declining sales for K-Swiss (NASDAQ: KSWS), and cut shares to Sell from Buy...

OTHER DOWNGRADES:

JMP Securities downgraded CapitalSource (NYSE: CSE) to Outperform from Strong Buy.

Oppenheimer has turned negative on oil and gas names for the near-term, as they now believe the downside risk exceeds upside potential; they cut shares of Apache Corp (NYSE; APA), BP PLC (NYSE: BP), ConocoPhillips (NYSE: COP), Chevron (NYSE: CVX) and ExxonMobil (NYSE: XOM), among others, to Neutral from Buy.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Tags: analyst, apa, apache, bp, capitalsource, checkfree, chevron, ckfr, conoco, cop, cse, cvx, downgrade, eog, exxon, k-swiss, ksws, lum, luminent, mobil, phillips, rating, swiss, wye, wyeth, xom

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Reader Comments (Page 1 of 1)

8-06-2007 @ 12:23PM

nick geannopoulos said...

as long as crude oil sells at $35 or more, companies such as cop, xom, etc.. are making money....at $75 a barrel, their "gross" profit is about $40 a barrel.....current oil company stock prices are bargains...do not sell oil stocks at this time