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 38.00

+0.00 +0.00%
Volume: 200
Track ATW

BHI 41.06

+0.00 +0.00%
Volume: 300
Track BHI

BJS 18.85

-0.05 -0.26%
Volume: 1,300
Track BJS

CPX 10.62

-0.05 -0.47%
Volume: 1,300
Track CPX

DO 102.14

+0.40 +0.39%
Volume: 41,043
Track DO

ESV 44.60

+0.00 +0.00%
Volume: 2,560,928
Track ESV

GOK 11.32

+0.00 +0.00%
Volume: 92,120
Track GOK

GTLS 16.80

-0.09 -0.53%
Volume: 3,184
Track GTLS

HAL 29.29

-0.06 -0.20%
Volume: 4,073
Track HAL

HERO 5.11

+0.00 +0.00%
Volume: 5,050
Track HERO

NE 41.87

-0.10 -0.24%
Volume: 345
Track NE

PHIIK 18.63

+0.00 +0.00%
Volume: 27,745
Track PHIIK

RDC 25.15

+0.00 +0.00%
Volume: 200
Track RDC

RIG 86.60

+0.00 +0.00%
Volume: 10,290
Track RIG

SII 27.50

+0.00 +0.00%
Volume: 1,500
Track SII

SLB 64.65

+0.00 +0.00%
Volume: 4,823
Track SLB

WFT 17.20

+0.00 +0.00%
Volume: 9,710
Track WFT


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