Company-specific analysis underpinned by actual business execution
- Our construct calibrates the relationship between capital spending and production to compute the capital intensity of an E&P business
- Our equity valuation applies a five-year DCF using a supportable weighted average cost of capital that integrates the cash flow, balance sheet and income statement
Macro analysis cost of supply derived from actual business execution
- Comprehensive understanding of U.S. cost of supply underpin our global oil and U.S. gas price outlook
- The discount rate used to determine our mid-cycle price outlook is derived from analysis of the historical return generated by the marginal source of global oil and U.S. gas supply
Basin-level analysis used to understand well productivity and operator trends
- Comprehensive analysis of basin development trends (well productivity, composition, lateral length)
The firm’s research is distributed daily to thousands of institutional investors and industry players
- exploration & production coverage
company stock symbol analyst Anadarko Petroleum APC Gerdes Antero Resources Corporation AR Gerdes Apache Corporation APA Nicholson Approach Resources Inc. AREX Nicholson Bill Barrett BBG Gerdes Cabot Oil & Gas Corp. COG Gerdes Callon Petroleum CPE Nicholson Carrizo Oil & Gas Inc. CRZO Gerdes Centennial Resource Development Inc. CDEV Nicholson Chesapeake Energy CHK Gerdes Cimarex Energy Co. XEC Gerdes Concho Resources Inc. CXO Gerdes Consol Energy CNX Gerdes Continental Resources Inc. CLR Gerdes Denbury Resources Inc. DNR Nicholson Devon Energy Corporation DVN Gerdes Diamondback Energy Inc. FANG Nicholson Eclipse Resources ECR Nicholson EOG Resources EOG Gerdes EP Energy Corporation EPE Nicholson EQT Corp. EQT Gerdes Encana Corp. ECA Gerdes Energen Corporation EGN Nicholson Extraction Oil & Gas Inc. XOG Nicholson Gulfport Energy Corp. GPOR Gerdes Hess Corp. HES Gerdes Jagged Peak Energy, Inc. JAG Gerdes Laredo Petroleum Holdings Inc. LPI Gerdes Marathon Oil Corp. MRO Gerdes Matador Resources MTDR Gerdes Murphy Oil Corporation MUR Gerdes Newfield Exploration Co. NFX Gerdes Noble Energy Inc. NBL Nicholson Oasis Petroleum Inc. OAS Nicholson PDC Energy PDCE Gerdes Parsley Energy, Inc. PE Nicholson Pioneer Natural Resources Company PXD Gerdes QEP Resources Inc. QEP Nicholson Resolute Energy Corp. REN Gerdes RSP Permian Inc. RSPP Nicholson Range Resources RRC Gerdes Rice Energy Inc. RICE Nicholson Sanchez Energy Corp. SN Gerdes SM Energy SM Gerdes Southwestern Energy SWN Gerdes Synergy Resources SRCI Gerdes Ultra Petroleum Corp UPL Gerdes Unit Corporation UNT Gerdes W&T Offshore Inc. WTI Nicholson WPX Energy, Inc. WPX Nicholson Whiting Petroleum Corp. WLL Nicholsonview e&p research models
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- rating systemKLR Group, LLC employs a three tier rating system for evaluating the potential return associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a quantitative basis in relation to our target price. Since stock prices are volatile on a daily basis KLR will utilize at least a +/- 5% variance tolerance in determining our ratings. Descriptions of the ratings are as follows:
Buy – The common stock of the company is estimated to have at least 15% upside to our target price.
Hold – The common stock of the company is estimated to be within +/- 15% of our target price.
Sell – The common stock of the company is estimated to have at least 15% downside to our target price.
- rating system