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UBS Downgrades Oil & Gas Drilling/Exploration Stocks

May 14, 2009 9:04 AM EDT
HP Hot Sheet
Rating Summary:
    6 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 7 | New: 23
UBS downgrades Helmerich & Payne (NYSE: HP) from Buy to Neutral. Price target $34.

UBS downgrades Basic Energy Services (NYSE: BAS), Bronco Drilling (Nasdaq: BRNC), Patterson-UTI Energy (Nasdaq: PTEN) & Pioneer Drilling (NYSE: PDC) from Neutral to Sell.

UBS price target on BAS is $8, PT on BRNC is $4.50, PT on PTEN is $10 & PT on PDC is $4.

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