Evan Calio

In a note published Monday morning, Morgan Stanley analyst Evan Calio downgraded shares of Chevron (NYSE: CVX) from Overweight to Equal-weight, but raised the price target from $135 to $140. Calio's downgrade comes amid beliefs that the risk vs. reward of Chevron has become more balanced in...

In a report published Tuesday, Morgan Stanley analyst Evan Calio reiterated an Equal-Weight rating on Devon Energy (NYSE: DVN), and raised the price target from $88.00 to $89.00. In the report, Morgan Stanley noted, “DVN sells U.S. non-core assets for $2.3Bn. The deal covers the remaining...

In a report published Thursday, Morgan Stanley analyst Evan Calio reiterated an Overweight rating and $33.00 price target on Cobalt International Energy (NYSE: CIE). In the report, Morgan Stanley noted, “Following the inaugural Analyst day, we marketed with CIE last week. The meetings confirmed our...

In a report published Thursday, Morgan Stanley analyst Evan Calio reiterated an Overweight rating and $33.00 price target on Cobalt International Energy (NYSE: CIE). In the report, Morgan Stanley noted, “Today, CIE introduced two new ~1Bn bbls Angolan prospects. These prospects, in addition to...

In a report published Thursday, Morgan Stanley analyst Evan Calio reiterated an Overweight rating and $135.00 price target on Chevron (NYSE: CVX). In the report, Morgan Stanley noted, “Following today's interim update, we lower 1Q14 EPS to $2.30 ($2.60 clean) from $2.68 vs. the Street at $2.75....

On Thursday, shares of Anadarko Petroleum (NYSE: APC) spiked following the company's announcement that it has entered an agreement with the Litigation Trust in the Tronox Adversary Proceedings to resolve all claims against Kerr-McGee. Settlement in the Tronox Adversary Proceedings The settlement...

In a report published Wednesday, Morgan Stanley analyst Evan Calio reiterated an Overweight rating and $135.00 price target on Chevron (NYSE: CVX). In the report, Morgan Stanley noted, “Despite slightly lowering long-term volume guidance, we believe CVX is best positioned to grow production among...

In a report published Thursday, Morgan Stanley analyst Evan Calio reiterated an Underweight rating and $90.00 price target on Exxon Mobil (NYSE: XOM). In the report, Morgan Stanley noted, “XOM lowered its growth outlook, leaving expectations for material asset sales unmet. Production guidance was...

In a report published Wednesday, Morgan Stanley analyst Evan Calio reiterated an Overweight rating and $110.00 price target on Anadarko Petroleum (NYSE: APC). In the report, Morgan Stanley noted, “APC made a convincing case/reminder that it is a premium E&P and, while a value unlock may be...

In a report published Friday, Morgan Stanley analyst Evan Calio initiated coverage on EP Energy (NYSE: EPE) with an Equal-Weight rating and $22.00 price target. In the report, Morgan Stanley noted, “Initiating at Equal-weight; fair credit for deep Wolfcamp resource. EPE trades at a 23% discount to...

In a report published Tuesday, Morgan Stanley analyst Evan Calio reiterated an Overweight rating on EOG Resources (NYSE: EOG), and raised the price target from $205.00 to $220.00. In the report, Morgan Stanley noted, “EOG posted a strong 4Q13, beating Consensus earnings for the 13th straight...

In a report published Tuesday, Morgan Stanley analyst Evan Calio reiterated an Equal-Weight rating and $220.00 price target on Pioneer Natural Resources (NYSE: PXD). In the report, Morgan Stanley noted, “PXD 4Q13 earnings were in-line. While 1Q14 guidance was ~5% below Street, full year 2014 and...

In a report published Thursday, Morgan Stanley analyst Evan Calio reiterated an Equal-Weight rating and $65.00 price target on Tesoro (NYSE: TSO). In the report, Morgan Stanley noted, “TSO reported 4Q13 EPS of $0.04 vs. MS /Street at $0.32/$0.30. Given weaker spot margins and an earnings miss vs....

In a report published Friday, Morgan Stanley analyst Evan Calio reiterated an Overweight rating and $82.00 price target on Noble Energy (NYSE: NBL). In the report, Morgan Stanley noted, “We believe NBL's Analyst Day will drive positive NAV and earnings revisions, largely from Niobrara upside. We...

In a report published Friday, Morgan Stanley analyst Evan Calio reiterated an Overweight rating on Anadarko Petroleum (NYSE: APC), but removed the $110.00 price target. In the report, Morgan Stanley noted, “The US Bankruptcy Court has published its long-awaited Tronox opinion. APC was determined...