UBS Downgrades Oil/Gas Stocks, Slashes Price Targets (BJS, SLB, HAL, RIG, more...)

January 5, 2009 9:36 AM EST

UBS downgraded and adjusted their price targets number of Oil & Gas stocks today

Downgraded from Buy to Neutral:
BJ Services (NYSE: BJS) (tgt cut to $13)
Chart Indust (Nasdaq: GTLS) (tgt cut to $12)
Complete Production Services (NYSE: CPX) (tgt cut to $9)
Diamond Offshore (NYSE: DO) (tgt cut to $65)
ENSCO International (NYSE: ESV) (tgt cut to $32)
Geokinetics (NYSE: GOK) (tgt cut to $3)
PHI Inc (Nasdaq: PHIIK) (tgt cut to $15)
Rowan Companies (NYSE: RDC) (tgt cut to $18)
Schlumberger (NYSE: SLB) (tgt cut to $45)
Weatherford (NYSE: WFT) (tgt cut to $12)

The firm also downgraded Hercules Offshore (Nasdaq: HERO) from Neutral to Sell ($4 tgt).

The firm maintained a Buy on:
Halliburton Company (NYSE: HAL) (tgt cut to $25)
Baker Hughes Inc. (NYSE: BHI) (tgt cut to $40)
Atwood Oceanics Inc. (NYSE: ATW) (tgt cut to $22)
Nobel Corp (NYSE: NE) (tgt cut to $35)
Transocean (NYSE: RIG) (tgt cut to $70)

The firm maintained a Neutral on:
Smith International Inc. (NYSE: SII) (tgt cut to $25)


Related Categories

Downgrades

Stocks Mentioned

ATW 39.24

-0.49 -1.23%
Volume: 511,934
Track ATW

BHI 43.12

+0.62 +1.46%
Volume: 1,788,284
Track BHI

BJS 19.66

+0.21 +1.08%
Volume: 1,552,981
Track BJS

CPX 10.00

+0.17 +1.73%
Volume: 270,604
Track CPX

DO 101.10

+0.58 +0.58%
Volume: 519,419
Track DO

ESV 46.15

-0.23 -0.50%
Volume: 1,330,661
Track ESV

GOK 14.05

+0.60 +4.46%
Volume: 39,651
Track GOK

GTLS 17.71

-0.52 -2.85%
Volume: 67,680
Track GTLS

HAL 31.22

-0.25 -0.79%
Volume: 4,739,791
Track HAL

HERO 5.51

-0.19 -3.33%
Volume: 1,129,091
Track HERO

NE 43.57

+0.65 +1.51%
Volume: 1,905,183
Track NE

PHIIK 19.63

-0.01 -0.05%
Volume: 7,172
Track PHIIK

RDC 26.39

-0.02 -0.08%
Volume: 1,286,870
Track RDC

RIG 89.62

+1.12 +1.27%
Volume: 2,028,495
Track RIG

SII 29.73

+0.09 +0.30%
Volume: 992,116
Track SII

SLB 66.19

+0.81 +1.24%
Volume: 3,708,087
Track SLB

WFT 18.49

-0.08 -0.43%
Volume: 4,765,942
Track WFT


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