GMP analyst Bob Bakanauskas initiated coverage on a number of oil & gas E&P stocks. He believes that the next major move in oil prices is higher and predicts improvement in global oversupply in 2016 and a transition to undersupplied conditions by 2017. GMP has set Buy ratings on the following stocks: EOG Resources Inc EOG Noble Energy, Inc. NBL Occidental Petroleum Corporation OXY Diamondback Energy Inc FANG Oasis Petroleum Inc. OAS SM Energy Co SMWhiting Petroleum Corp WLL EQT Corporation EQT Rice Energy Inc RICE Earthstone Energy Inc ESTE Gastar Exploration Inc GST