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Westhouse names Faroe, Genel and Ithaca as top picks amid oil volatility

Fri, 20th Feb 2015 09:43

Despite the recent rally in oil prices uncertainties still remain for the sector, according to Westhouse Securities which picked out Faroe Petroleum, Genel Energy and Ithaca Energy as its key recommendations in the face of ongoing volatility.Brent oil, which had fallen to a low of $47.68 a barrel last month, had recently recovered to the $60 mark, though that rally stalled this week after US stockpiles rose to a record high and the market reacted to worries about a rise in Saudi output."The reality is that it is easy to get lost in the day-to-day volatility and the noise. The big picture is that we're still in an oversupplied market and this likely to be the case at least up until the end of the second quarter this year," said Westhouse analyst Jamal Orzabayeva.He said that the oversupply situation will probably improve in the second half, but it is unlikely that prices will return to $100 a barrel any time soon. Prices of $70-80 a barrel are more likely in the medium-to-long term.Orzabayeva said: "'Calling the bottom' is, in a way, a fool's errand and at best is just an educated guess. A more interesting question is do you need to 'call the bottom' to make an investment call on E&P stocks?"He recommended investors build positions now and have a "realistic" investment horizon at least for the next 12-18 months.Investors should also "cherry-pick" stocks that are protected in the near term by hedging or those with a low cost base or healthy balance sheet, he said.The analyst also suggested that investors should choose stocks that can deliver upside on the current futures curve and have near-term operational catalysts coming up."Three stocks in my coverage tick these boxes: Faroe Petroleum, Genel Energy and Ithaca Energy. On a more speculative side, I'd also highlight EnQuest," Orzabayeva said.

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22 Mar 2023 15:49

UK earnings, trading statements calendar - next 7 days

Thursday 23 March
C&C Group PLC	Trading Statement
Carr's Group PLC	Full Year Results
Energean PLC	Full Year Results
Gulf Keystone Petroleum Ltd	Full Year Results
Inchcape PLC	Full Year Results
Playtech PLC	Full Year Results
Pollen Street PLC	Full Year Results
Portmeirion Group PLC	Full Year Results
Safestyle UK PLC	Full Year Results
Wickes Group PLC	Full Year Results
Friday 24 March
Ceres Power Holdings PLC	Full Year Results
JD Wetherspoon PLC	Half Year Results
NAHL Group PLC	Full Year Results
Smiths Group PLC	Half Year Results
Sopheon PLC	Full Year Results
Tribal Group PLC	Full Year Results
Monday 27 March
Aeorema Communications PLC	Half Year Results (TBC)
Belvoir Group PLC	Full Year Results
Carnival PLC	Trading Statement
CentralNic Group PLC	Full Year Results
Crimson Tide PLC	Full Year Results
Dialight PLC	Full Year Results
eEnergy Group PLC	Half Year Results
Equals Group PLC	Full Year Results
Hyve Group PLC	Trading Statement
IQGeo Group PLC	Full Year Results
Life Science REIT PLC	Full Year Results
RTC Group PLC	Full Year Results
SigmaRoc PLC	Full Year Results
Tandem Group PLC	Full Year Results
Thungela Resources Ltd	Full Year Results
Tortilla Mexican Grill PLC	Full Year Results
Tuesday 28 March
AG Barr PLC	Full Year Results
Animalcare Group PLC	Full Year Results
Bango PLC	Trading Statement
Bellway PLC	Half Year Results
CPPGroup PLC	Full Year Results
DigitalBox PLC	Full Year Results
EKF Diagnostics Holdings PLC	Full Year Results
Eleco PLC	Full Year Results
Empresaria Group PLC	Full Year Results
Flowtech Fluidpower PLC	Full Year Results
Good Energy Group PLC	Full Year Results
Impact Healthcare REIT PLC	Full Year Results
James Fisher & Sons PLC	Full Year Results
John Wood Group PLC	Full Year Results
Marlowe PLC	Trading Statement
Mortgage Advice Bureau Holdings PLC	Full Year Results
Nanoco Group PLC	Half Year Results
Ocado Group PLC	Trading Statement
Personal Group Holdings PLC	Full Year Results
Petershill Partners PLC	Full Year Results
Real Estate Investors PLC	Full Year Results
Regional REIT Ltd	Full Year Results
S&U PLC	Full Year Results
Softcat PLC	Half Year Results
Synthomer PLC	Full Year Results
Team17 Group PLC	Full Year Results
United Utilities Group PLC	Trading Statement
VH Global Sustainable Energy Opportunities PLC	Full Year Results
Xaar PLC	Full Year Results
Wednesday 29 March
abrdn Smaller Companies Income Trust PLC	Full Year Results
Artisanal Spirits Co PLC	Full Year Results
Big Technologies PLC	Full Year Results
Central Asia Metals PLC	Full Year Results
Dignity PLC	Full Year Results
Ecora Resources PLC	Full Year Results
Essentra PLC	Full Year Results
Inspired PLC	Full Year Results
Ithaca Energy PLC	Full Year Results
Medica Group PLC	Full Year Results
Michelmersh Brick Holdings PLC	Full Year Results
Next PLC	Full Year Results
Octopus Renewable Infrastructure Trust PLC	Full Year Results
RM PLC	Full Year Results
S4 Capital PLC	Full Year Results
Strix Group PLC	Full Year Results
Surgical Innovations Group PLC	Full Year Results
tinyBuild Inc	Full Year Results
UP Global Sourcing Holdings PLC	Half Year Results

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6 Mar 2023 09:48

LONDON BROKER RATINGS: DB cuts Reckitt; Jefferies likes Tesco

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

1 Mar 2023 19:34

TOP NEWS: Moonpig drops out of FTSE 250, Provident Financial joins

(Alliance News) - FTSE Russell confirmed on Wednesday that the following changes will take effect to its UK indices from the market open on Monday, March 20, after completing its quarterly review.

21 Feb 2023 17:41

TOP NEWS: No FTSE 100 promotions but Moonpig, 888 tipped to leave 250s

(Alliance News) - No mid-cap stock will break into London's FTSE 100 blue-chip benchmark at the next index review, according to indicative changes provided by FTSE Russell on Tuesday.

16 Feb 2023 14:31

Ithaca Energy expects 2022 production surge and higher net capex

(Alliance News) - Ithaca Energy PLC on Thursday said it expects its production to have jumped in 2022, amid anticipations for higher net capital expenditure.

9 Feb 2023 09:44

LONDON BROKER RATINGS: HSBC cuts Hiscox; Davy raises On The Beach

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

9 Feb 2023 07:55

LONDON BRIEFING: AstraZeneca swings to profit; Unilever volumes fall

(Alliance News) - Stocks in London were called to open higher on Thursday, as investors in Europe kept their cool, despite hawkish US central bankers and a weak finish on Wall Street.

3 Jan 2023 14:32

Ithaca Energy partner reports hydrocarbons at Isabella discovery

(Alliance News) - Ithaca Energy PLC on Tuesday announced drilling at its Isabella discovery has found signs of hydrocarbons, as it also confirmed drilling for its K2 prospect.

20 Dec 2022 09:35

LONDON BROKER RATINGS: UBS cuts Sage; Goldman, Jefferies like Ithaca

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

20 Dec 2022 07:49

LONDON BRIEFING: German producer prices fall nearly 4% in November

(Alliance News) - Stocks in London were called to a lower open on Tuesday, after a shock move by the Bank of Japan shook Asian markets.

30 Nov 2022 14:33

Ithaca Energy quarterly quarterly profit rises softly as revenue jumps

(Alliance News) - Ithaca Energy PLC on Wednesday reported a surge in third quarter revenue but just a mild profit growth due to increased costs.

30 Nov 2022 07:13

Ithaca Energy earnings jump through third quarter

(Sharecast News) - North Sea-focussed explorer and producer Ithaca Energy reported adjusted EBITDAX of $1.44bn in the first nine months of the year on Wednesday, up from $531m year-on-year.

18 Nov 2022 14:37

Ithaca Energy retains dividend despite energy profits levy increase

(Alliance News) - Ithaca Energy PLC on Friday said it remains committed to its dividend policy despite revisions to the energy profits levy announced by Chancellor Jeremy Hunt on Thursday.

9 Nov 2022 08:40

Ithaca Energy prices IPO at 250p a share

(Sharecast News) - North Sea oil and gas producer Ithaca Energy said on Wednesday that its initial public offering was being priced at 250p per share - the bottom end of the expected range.

17 Feb 2017 09:26

Ithaca Energy starts production at North Sea oil field

(ShareCast News) - AIM-listed explorer Ithaca Energy has started production at its Stella oil field in the North Sea. The company said that production has been started from the field along with oil exports to the adjacent shuttle tanker. A ramp-up in production will start when the on-going commissi

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Westhouse names Faroe, Genel and Ithaca as top picks amid oil volatility

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