Back to top

Bear of the Day

Zacks Equity Research

Nexen Inc (NXY)

 ZacksTrade Now

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Nexen Inc (NXY) has been downgraded from Neutral to Underperform. The company reported mixed results for the first quarter of 2012 with earnings coming in below the Zacks Consensus Estimate. Revenues came in approximately 13% above the Zacks Consensus Estimate.

Production also decreased in the quarter mainly due to the expiry of the Masila contract in Yemen in December 2011. Though the production guidance for the year has been maintained, we are skeptical about the company s sustainable operational and execution abilities in achieving it.

Low gas prices and execution risk are other concerns. Given these headwinds, we expect shares of Nexen to be under pressure in the near future. As such, we see no upside in the stock from the current level. Our target price for Nexen is $15.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
LAKE SHORE G LSG 0.75 +3.58%
BNC BANCORP BNCN 17.52 +2.70%
ENLINK MIDST ENLC 36.67 +2.66%
EXTERRAN HLD EXH 45.08 +2.08%
BIO PATH HOL BPTH 2.69 +1.89%