Guggenheim Initiates Coverage on Several Oil & Gas Drilling & Exploration Stocks; Upgrades DO & ESV, Lowers RDC

Guggenheim initiates coverage on several Oil & Gas Drilling & Exploration stocks including:

SeaDrill (Nasdaq: SDRL), National Oilwell Varco (NYSE: NOV), Noble Corp (NYSE: NE), Transocean (NYSE: RIG), Cameron (NYSE: CAM), Oceaneering (NYSE: OII), Pacific Drilling (Nasdaq: PACD) started at Buy ratings

FMC Technologies (NYSE: FTI), Atwood Oceanics (NYSE: ATW), and Dril-Quip (NYSE: DRQ) all started with Neutral ratings.

Guggenheim also upgraded Diamond Offshore (NYSE: DO) and Ensco (NYSE: ESV) from Neutral to Buy, but downgraded Rowan Companies (NYSE: RDC) from Buy to Neutral.

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