Wall Street Fundamentals Releases New In-Depth Stock Reports on BP, COP, CVX and PBR

On Monday, oil prices spiked to nine-month highs on concerns of growing tensions in the Middle East. In early trading benchmark oil for July delivery spiked to $98.74, its highest this year, on the New York Mercantile Exchange. There have been concerns that the conflict in Syria could spread, disrupting oil supplies in the process. Oil prices have also been buoyed by hopes that the U.S. Federal Reserve will maintain its aggressive stimulus measures. Policy makers will begin a two-day meeting Tuesday. Here is how some oil stocks reacted Monday:

BP plc (NYSE: BP) shares traded in the range of $43.15 to $43.41 Monday before settling to close at $43.26, an increase of 0.98 percent. The stock appears to be facing resistance at $43.27 with some support at $42.67. Jeffries analysts have recently reiterated a “hold” rating on the company and have also raised its price target by 10 percent. Shares of BP have gained approximately 3.9 percent in 2013.

More information on BP and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BP

ConocoPhillips (NYSE: COP) shares traded in the range of $61.44 to $62.05 Monday before settling to close at $61.94. The stock appears to be facing some resistance at $62.40 with support at $61.47. Jeffries analysts have maintained a “hold” rating on the company, but have raised its priced target to $65.00 from $60.00. Shares of ConocoPhillips have gained approximately 6.8 percent in 2013.

More information on ConocoPhillips and access to the free equity report can be found at:
www.WallStreetFundamentals.com/COP

Chevron Corporation (NYSE:CVX) shares traded in the range of $120.28 to $121.78 Monday before settling to close at $121.22, an increase of 0.78 percent. The stock appears to be facing resistance at $121.40 with some support at $117.21. Jeffries analysts have recently downgraded the company’s rating to “hold” from “buy”. Shares of Chevron have gained approximately 12.1 percent in 2013.

More information on Chevron and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CVX

Petroleo Brasileiro Petrobras SA (NYSE: PBR) shares traded in the range of $15.44 to $15.95 Monday before settling to close at $15.64. The stock appears to be facing some resistance at $15.94 with some support at $15.47. Jeffries analysts have recently upgraded the company’s rating to “buy” from “hold”. Shares of Petrobras have fallen approximately 19.7 percent in 2013.

More information on Petroleo Brasileiro Petrobras and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PBR

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Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.

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