Doug Leggate

WTI crude oil prices dropped 1% to $68.52 per barrel on Tuesday as it appears Gulf Coast oil refineries avoided a worst-case scenario from Hurricane Ida. Refining Shutdowns: Hundreds of offshore oil refineries were evacuated ahead of Ida’s landfall in Louisiana on Sunday. Almost all offshore...

Activist Exxon Mobil Corporation (NYSE: XOM) investors recently won a third seat on the company’s board of directors, and media outlets have reported that shareholder approval of the board shakeup is largely motivated by a desire to prepare the company for a lower-carbon future. However...

Although the long-term growth prospects of ConocoPhillips (NYSE: COP) are not as high as some of its peers like Exxon Mobil Corporation (NYSE: XOM), its accelerated free cash visibility positions the stock among "yield" names, according to BofA Securities. The ConocoPhillips Analyst...

For the first time in many years, the Energy Select Sector SPDR Fund (NYSE: XLE) is leaving the SPDR S&P 500 ETF Trust (NYSE: SPY) in the dust as many oil and gas stocks have come roaring back to life. On Thursday, Bank of America analyst Doug Leggate released his quarterly deep dive...

Occidental Petroleum Corporation (NYSE: OXY) is among the most levered stocks to an oil recovery, according to BofA Securities. The Occidental Analyst: Doug Leggate maintained a Buy rating for Occidental Petroleum, with a price target of $29. The Occidental Thesis: The company’...

The strength of the rebound in U.S. oil and gas stocks over the last month is justified, but the sector has yet to fully price in a recovery, according to BofA Securities. The Oil & Gas Analyst: Doug Leggate maintained Buy ratings on Exxon Mobil Corporation (NYSE: XOM),...

Energy sector investors have had another brutal year in 2020, with the Energy Select Sector SPDR Fund (NYSE: XLE) on track to finish the year down more than 34%. Yet BofA Securities said this week that it is betting on a big rebound and rating the energy sector Overweight in 2021. Oil and gas...

Shares of ConocoPhillips (NYSE: COP) have declined by 17% over the last six months, lifting its dividend yield to around 6%, "second only to the major oils," according to BofA Securities. The ConocoPhillips Analyst: Doug Leggate upgraded ConocoPhillips from Neutral to Buy and...

The recent pullback in energy shares has moved some stocks into an “advantaged” position, with an improving oil price outlook over the next year, according to BofA Securities. BofA's Energy Sector Upgrades Doug Leggate upgraded Concho Resources Inc (NYSE: CXO) from Neutral...

Marathon Petroleum Corp (NYSE: MPC) is reportedly in talks with potential buyers for its Speedway Retail business, although “any deal is likely weeks away,” according to The Wall Street Journal. A lack of visibility exists for the stock given the company’s announcement...

BofA Securities considers oil stocks as "equities first, oil companies second." Weighing them on the basis of market, company-specific and commodity risks bodes well for some stocks, but not all. “We reset [price objectives] higher across the board for a second time...

Stocks that trade under $5 per share are often referred to as penny stocks. Many penny stocks trade for literal pennies (or less) on the OTC market, but there are plenty of penny stocks that trade on major exchanges as well. The Nasdaq and NYSE require all stocks listed on their exchanges to...

The S&P 500 has rallied hard off its March lows, but the index remains down 12.9% year-to-date overall. The near-term economic outlook amid the COVID-19 shutdown is still unclear, creating a lot of uncertainty on Wall Street. The International Monetary Fund recently cut its 2020 global economic...

The S&P 500 has rallied hard off its March lows, but the index remains down 12.4% year-to-date overall. The near-term economic outlook amid the COVID-19 shutdown is still unclear, creating a lot of uncertainty on Wall Street. The International Monetary Fund cut its 2020 global economic growth...

All of a sudden, renewed optimism about the government stimulus package and a handful of data points suggesting the spread of COVID-19 may be slowing has the S&P 500 up 10.3% since April 1. Unfortunately, the economy and the market are not out of the woods just yet. It may be years before some...