UBS Downgrades Oil & Gas Drilling/Exploration Stocks

May 14, 2009 9:04 AM EDT

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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Downgrades

Stocks Mentioned

BAS 7.50

+0.32 +4.46%
Volume: 1,028,739
Track BAS

BRNC 4.85

-0.16 -3.19%
Volume: 312,964
Track BRNC

HP 36.80

+0.00 +0.00%
Volume: 1,914,645
Track HP

PDC 6.46

+0.30 +4.87%
Volume: 768,456
Track PDC

PTEN 14.71

-0.28 -1.87%
Volume: 5,815,147
Track PTEN


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