Devin McDermott

U.S. oil majors Exxon Mobil Corp (NYSE: XOM) and Chevron Corporation (NYSE: CVX) both reported impressive third-quarter numbers last week, with each company beating consensus earnings estimates by roughly 15%. In a difficult macroeconomic environment for most companies, a pair of Wall Street...

The energy sector has been a silver lining in a brutal market in 2022, and Morgan Stanley said Wednesday there are still opportunities in the oil and gas space for selective investors. The Analyst: Morgan Stanley analyst Devin McDermott issued the following three ratings changes: Upgraded EOG...

Despite a recent sector sell-off in oil and gas, a Morgan Stanley analyst cites a "consistent execution on spending" and strong excess cash flow usage "towards capital returns and debt reduction" as reasons to remain favorable. Oil & Gas Industry Overview: Devin McDermott...

Crude oil prices hit multi-year highs this week above $70 pre barrel on optimism surrounding summer reopening and travel demand. On Friday, one Wall Street analyst adjusted his oil stock coverage ahead of what could be a big summer for oil stocks. The Analyst: Morgan Stanley analyst Devin McDermott...

Exxon Mobil Corporation’s (NYSE: XOM) spending reductions and margin expansion should help the company beat free cash flow expectations and support dividends, according to Morgan Stanley. The Exxon Mobil Analyst: Devin McDermott upgraded Exxon Mobil's stock from Equal-Weight to Overweight...

This year has been a historically brutal one for oil stocks, with a collapse in demand driven by COVID-19 travel restrictions and shutdowns pushing WTI crude oil prices briefly into negative territory for the first time in history. Yet the oil market has since stabilized, and one analyst said...

Following the acquisition of Anadarko Petroleum Corporation (NYSE: APC) in August last year, shares of Occidental Petroleum Corporation (NYSE: OXY) have declined 32%, underperforming peers. Occidental Petroleum now has a peer-leading dividend yield of 7%, which is sufficiently covered by its strong...

Chevron Corporation (NYSE: CVX) shares are down about 4 percent since the company announced a $33 billion buyout of Anadarko Petroleum Corporation (NYSE: APC) on Friday. The merger would be the sixth-largest buyout in the history of the oil and gas space, and would help Chevron beef up its Permian...

Oil prices have drifted higher in the second half of 2017 on news that OPEC extended its production cut agreement into 2018. While things may be looking up for oil investors, natural gas investors could be in for another tough year in 2018.  The Analyst Morgan Stanley analyst Devin...

Eversource Energy (NYSE: ES) is attractively valued and remains poised for 12-percent upside from current levels, according to a Morgan Stanley analyst.  The Analyst Morgan Stanley analyst Devin McDermott upgraded shares of Eversource Energy from Equal-weight to Overweight and upped the...

Morgan Stanley said in a note Thursday it now sees a compelling risk-reward skewed to the upside for Public Service Enterprise Group Inc. (NYSE: PEG), given the fact that there are many ways to win. The firm said the company is one of high quality, with an attractive valuation. As such, the firm...

Morgan Stanley downgraded shares of SCANA Corporation (NYSE: SCG) to an Underweight rating citing Toshiba Corp (USA) (OTC: TOSYY) and weakness in construction. The brokerage also kept a price target of $67.00 on the shares of the company. Analysts led by Stephen Byrd cited the risk of future/...