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Enter Symbol:
Nexen, Inc. (NXY) [hlAlert]

Mkt Perform
up 8.92 %

Nexen, Inc. (NXY) downgraded to Mkt Perform with price target $17 by Friedman Billings

Posted on: Tuesday,  Jan 20, 2009  8:25 AM ET by Friedman Billings

Friedman Billings rated Mkt Perform Nexen, Inc. (NYSE: NXY) on 01/20/2009. Previously Friedman Billings rated Outperform Nexen, Inc. (NYSE: NXY) on
10/23/2008., when the stock price was $12.77. Since then, Nexen, Inc. has gained 8.93% as of 01/20/2009's recent price of $13.91.
If you would have followed the previous Friedman Billings's recommendation on NXY, you would have gained 8.92% of your investment in 89 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.

FBR Capital Markets is a full service investment banking, institutional sales, trading and research and asset management firm with a customer-focused and innovative approach to meeting its clients needs. It focuses its banking, advisory, trading and research efforts on seven broad industry sectors including consumer, diversified industrials, energy & natural resources, financial institutions, insurance, real estate and technology, media & telecom. With our headquarters in the Washington, D.C. metropolitan area, our Economic and Washington Policy Analysis groups offer clients a comprehensive overview of national economic trends along with a unique perspective on the impact that legislation and regulation will have on industry sectors and individual companies
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
1/20/2009 8:25 AM Hold
13.91 17.00
as of 12/31/2009
1 Week   
1 Month   
3 Months   
1 YTD down  -20.87 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/23/2008 8:25 AM Buy
12.77 30.00
7/17/2008 2:25 PM Buy
32.41 45.00
4/15/2008 2:25 PM Buy
33.42 39.00
10/30/2007 9:25 AM Buy
31.68 42.00

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