Rose Petroleum (ROSE) Joint venture with Fidelity Exploration & Production shale and other non-conventional and conventional assets in Utah in the US. Rose listed in London early in 2014, and in March 2014 signed an agreement which gave it a 75 per cent working interest in 250,000 net acres in Grand and Emery counties in the highly prospective Uinta and Paradox Basins. https://nxtwire.com/rose-petroleum-rose-joint-venture-with-fidelity-exploration-production/#comment-63
Pacific Crest Bullish On MDU Resources Group Inc. (MDU) Stock: Here’s Why
MDU
Pacific Crest has reiterated an Overweight rating on the MDU Resources Group Inc. (NYSE:MDU) stock. The sell side company has 12-month price target estimate of $27 for the company. In recent times, crude oil prices have fallen by over 40%. Pacific Crest points out that while the downward trend of the falling crude oil prices may remain a problem in the short run, the sell side firm considers the company’s risk reward fairly, given the company’s strong growth outlook for its core business functions.
Pacific Crest, after meeting the company’s management, believes that the company’s sell-off of its Fidelity would serve as a positive catalyst. The company on June 1 had announced the marketing process for Fidelity. Several parties have expressed interest in buying Fidelity. In addition to that, the management of the company has indicated to have initiated an auction process with the help of a financial advisor. The overall sale process is to take a minimum of six years, according to the estimates of Pacific Crest.
Out of the 11 analysts, covering the MDU Resource Group stock, three rate it as a Buy, six rate it as a Hold while two rate it as a Sell. The 12-month price estimate for the company is $25.33 with a 23.5% return potential. Analyst Christopher R Ellinghaus from Williams Capital Group was the most bullish on the stock, rating it as a Buy with a 12-month price estimate at $37. Analyst Timm Schneider from Evercore ISI was the most bearish on the stock, rating it as a Sell and estimating the 12-month price target at $22.
The sum of the parts valuation of Pacific Crest values it at a price of $27. The stock for the company closed at $20.51 when the market closed on Monday. Pacific Crest has a rather positive outlook on the MDU stock