Barclays Capital's "Global Energy Outlook" report published on Aug. 11, 2011, the following exploration, production, integrated oil and refining companies are ranked overweight with a positive sector outlook. Barclays' energy experts are bullish on oil long-term and that could help out the equities of the following 10 undervalued names.
Chevron (CVX) is one of Barclays' favorite big oil overweights. Price target: $135. Upside potential: 45%.
Hess Corporation (HES) is trading under 7 times forward earnings. Barclays price target: $108. Upside potential: 93%.
Murphy Oil Corp (MUR) is mainly U.S. dependent. But Barclays likes them. Price target: $77. Upside potential: 49%.
Canada's Imperial Oil (IMO) has a price target of $57 with a potential upside of 44%, according to Barclays' estimates.
Sunoco (SUN) is a household name in the U.S. And the bain of the average America's existence when gasoline prices hit $4 a gallon. Barclays price target: $54. Upside potential: $74.
Tesoro (TSO) is a national refiner headquartered in Texas. Barclays price target: $38. Upside potential: 95%.
Headquarterted in the UK, Afren PLC (LON: AFR) drills for oil off the coast of Africa. Barclays price target: $200. Upside potential: 111%.
BowLeven (LON: BLVN) is another UK based oil and gas exploration and production company with most of its assets off coastal Africa. Barclays price target: $515. Upside potential: 312%.
Max Petroleum (LON: MXP) explores and produces oil in Kazakhstan. Is nice! Barclays price target: $45. Upside potential: 275%.
Premier Oil (LON: PMO) maintains oil and gas exploration and production ops in the North Sea and on land in Pakistan and the Middle East. Barclays price target: $631. Upside potential: 86%.
Posted courtesy of Forbes.Com