This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Top 10 Commodity Stocks of 2010

7. Brigham Exploration

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

YTD Returns: 98%

Brigham Exploration (BEXP) engages in the exploration, development, and production of onshore oil and natural gas reserves in the Rocky Mountains, the Gulf Coast, the Anadarko Basin and west Texas.

Brigham beat analyst expectations in the third quarter, reporting a profit adjusted for extraordinary items of $18 million, or 15 cents per share, versus a loss in the corresponding period of $300,000. Analysts expected an adjusted profit of 10 cents per share.

Production jumped 64% in the third quarter to 8,509 barrels of oil equivalent a day. High value crude oil accounted for 75% of the production. Brigham expects total average production of 10,200-10,800 barrels of oil equivalent (boe) per day. The company also raised its full-year exploration and development capital budget by 15 percent to $466.1 million.

The updated 2010 budget will fund approximately 44.8 net Williston Basin wells, two net Vicksburg wells in South Texas and 2.8 net wells primarily in the West Texas Wolfberry oil resource play.

Brigham recently reported above-average production rates from its five new wells in the oil-rich formation in the Bakken region located in North Dakota and Montana.

13 out of 18 analysts rate it a buy. MKM Partners recently downgraded the stock to neutral from buy with a 12-month price target of $31. Jefferies had a buy rating in November with a price target of $32. Analyst Subhash Chandra says the fourth quarter guidance looked conservative. "Based on 18 gross completions, midpoint of 8,100 bopd appears conservative. We currently estimate production of 8,400 bopd. Our revised EPS estimate of $0.25 is considerably above consensus of $0.15."

5 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
EC $16.81 0.00%
KRO $13.31 0.00%
NGD $3.30 0.00%
NG $3.76 0.00%
SLW $20.17 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs