Barclays Downgrades Oil Well Services & Equipment Stocks to Equalweight

March 27, 2009 9:03 AM EDT

Barclays downgrades Basic Energy Services (NYSE: BAS), Hercules Offshore (Nasdaq: HERO), Key Energy (NYSE: KEG), Patterson-UTI (Nasdaq: PTEN), Rowan (NYSE: RDC), Superior Energy (NYSE: SPN) & TETRA Technologies (NYSE: TTI) from Overweight to Equalweight.

Barclays lowers the Price Target (PT) on BAS from $8 to $7, lowers HERO's Price Target from $6 to $2, and drops KEG's PT from $6 to $5.

Barclays also lowers the PT on PTEN from $10 to $9, RDC from $23 to $18, SPN from $26 to $20 and drops TTI's PT from $12 to $6.


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Downgrades

Stocks Mentioned

BAS 7.21

+0.29 +4.19%
Volume: 210,613
Track BAS

HERO 5.77

+0.73 +14.48%
Volume: 8,688,741
Track HERO

KEG 7.96

+0.26 +3.38%
Volume: 647,850
Track KEG

PTEN 16.45

+0.67 +4.25%
Volume: 5,431,137
Track PTEN

RDC 26.76

+1.31 +5.15%
Volume: 2,997,765
Track RDC

SPN 23.48

+0.70 +3.07%
Volume: 693,449
Track SPN

TTI 11.36

+1.73 +17.96%
Volume: 2,090,532
Track TTI


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