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Nexen, Inc. (NXY) [hlAlert]

Rating:
Sector Perform
NXY
up 13.33 %

Nexen, Inc. (NXY) downgraded to Sector Perform by RBC Capital Mkts

Posted on: Thursday,  Jul 10, 2008  8:25 AM ET by RBC Capital Mkts

RBC Capital Mkts rated Sector Perform Nexen, Inc. (NYSE: NXY) on 07/10/2008. Previously RBC Capital Mkts rated Buy Nexen, Inc. (NYSE: NXY)
on 11/12/2007., when the stock price was $31.56. Since then, Nexen, Inc. has gained 13.34% as of 07/10/2008's recent price of $35.77.
If you would have followed the previous RBC Capital Mkts's recommendation on NXY, you would have gained 13.33% of your investment in 241 days.

Nexen Inc. (Nexen) is an independent, Canadian-based, global energy company. Nexen operates in four segments: oil and gas, syncrude, energy marketing and chemicals. The Company owns 7.23% of the Syncrude Joint Venture. Energy marketing includes its crude oil, natural gas, natural gas liquids and power marketing business in North America, Europe and Asia. Chemicals include operations in North America and Brazil that manufacture, market and distribute sodium chlorate, caustic soda and chlorine through the Canexus Limited Partnership. Nexen has oil and gas operations in the United Kingdom North Sea, United States Gulf of Mexico, Yemen and other international (Colombia, offshore West Africa and Norway). Nexen has a 7.23% participating interest in Syncrude. The Company?s marketing group sells third-party natural gas, crude oil, natural gas liquids and power in certain regional global markets. Nexen manufactures sodium chlorate and chlor-alkali products in Canada and Brazil.

RBC Capital Markets is an international corporate and investment bank that provides innovative solutions and a focused set of products and services to institutions, corporations, governments and high net worth clients around the world. With nearly 3,700 professional and support staff, we operate out of 75 offices in 15 countries and deliver our products and services through operations in Asia and Australasia, the UK and Europe and in every major North American city.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/10/2008 8:25 AM Hold
None
35.77
as of 12/24/2008
1 Week down  -0.70 %
1 Month up  15.18 %
3 Months up  36.74 %
1 YTD down  -32.13 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
11/12/2007 9:25 AM Buy
None
31.56
10/25/2007 9:25 AM Hold
None
31.04 32.00

(*) Stock Price at the time of the recommendation.
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