Global oil and gas exploration and production segment "neutral"

08/06/04 - Prudential Financial

NEW YORK, August 6 (New Ratings) - Analyst Jason Gammel of Prudential Financial maintains his "neutral" stance on the global oil and gas exploration and production segment.

In a research note published this morning, the analyst mentions that the E&P stocks have underperformed the S&P 500 since July 30, despite the record high oil prices. The recent weak short-term demand conditions and increased storage levels have restricted the natural gas prices, the analyst adds.