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Credit Suisse NYSE:CS 2013 Survey, Oil & Gas Investors Very Bullish

APC, NBL, PXD, EOG, MRO, HES, APA, DVN, OXY, COP, MUR, XOM, CHV, BHP

Credit Suisse Group 2013 Energy Summit results are in, participants interviewed and surveyed by the Swiss bank are Bullish on the energy sector for Y 2013.

The survey pool consisted of employees from energy companies, hedge funds, long-only investors and a large other category.

Wall Street analysts and their research on individual stocks or sectors are often covered, but this outlook is actually from some people who are really investing and putting money to work in the energy sector.

Putting the survey into perspective, when participants were asked their energy sector weighting 68% said they were overweight while 21% said they were Neutral, just 11% were Underweight.

When asked their largest weighting within energy, refiners and exploration and production E&P)companies topped the list tied at 26%.

The Big Picture POV that can be taken from this is that the participants are very Bullish on Crude Oil and Energy going forward.

When asked “Of the well liked large capitalization stocks which will outperform?”

Anadarko Petroleum Corporation NYSE: APC was the 1st choice followed by Noble Energy Inc. NYSE: NBL), Pioneer Natural Resources Co. NYSE: PXD, EOG Resources Inc. NYSE: EOG, and Marathon Oil Corporation NYSE: MRO. Marathon is notable in that they received no votes for outperforming.

When asked “Which stock is poised for a breakout in 2013?”

The results were very closely bunched. The participants top break out choice was Hess Corporation NYSE: HES followed by in order by Apache Corp. NYSE: APA, Devon Energy NYSE: DVN, Occidental Petroleum Corporation NYSE: OXY, ConocoPhillips NYSE: COP and Murphy Oil Corporation NYSE: MUR.

Another interesting question asked of the participants especially after they cited so many large cap Independent E&P names was “ What is the chance the one of the Integrated Oils like Exxon Mobil Corporation NYSE: XOM, Chevron Corporation NYSE: CVX or even BHP Billiton Ltd NYSE: BHP launching a takeover bid for a large cap Independent E&P” 42% said there was a 50-75% chance, and 27% thought there was a 75-100% chance.

The survey contained many typical general questions but this theme was consistent, the participants feel that Oil and Nat Gas pricing will stay firm to slightly higher from current levels.

They were also generally in agreement that demand from China, India and the Middle East would drive pricing and profits, while growth production from the US, Russia, OPEC and other countries could weigh on pricing and profits.

Below is the current share price and the 1 yr forward consensus price target from Thomson Reuters.