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Thursday, March 28, 2024

Evercore ISI Downgrades Drilling Companies

Courtesy of Benzinga.

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Evercore ISI analyst James West commented in an analyst note Monday that oil services companies estimates have been reduced across the board.

The steepest declines were forecasted for companies heavily exposed to North America where E&P expenditures are expected at -10 percent in 2015 vs. prior expectations of +8 percent.

According to the note, oil prices are not expected to fully rebound until the second half of 2015.

Below are the firm's rating changes along with current price targets:

GulfMark Offshore, Inc (NYSE: GLF) – From Hold to Sell, $20 price target

Oil States International, Inc. (NYSE: OIS) – From Buy to Hold, $50 price target

Parker Drilling Company (NYSE: PKD) – From Buy to Hold, $4 price target

RPC, Inc. (NYSE: RES) – From Buy to Hold, $18 price target

Seadrill Ltd (NYSE: SDRL) – From Buy to Hold, $20 price target

Latest Ratings for GLF

Date Firm Action From To
Nov 2014 Evercore ISI Downgrades Hold Sell
Sep 2014 Tudor Pickering Downgrades Accumulate Hold
Jul 2014 RS Platou Downgrades Neutral Sell

View More Analyst Ratings for GLF
View the Latest Analyst Ratings

Posted-In: Evercore James WestAnalyst Color Downgrades Price Target Analyst Ratings

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