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Guggenheim Upgrades Oil Exploration And Production Stocks

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In a note released Wednesday, Guggenheim analyst Michael LaMotte upgraded a number of stocks involved in the exploration and production of petroleum from Sell to Buy.

The companies that received an upgrade by the firm are Baker Hughes (NYSE: BHI), Helmerich & Payne (NYSE: HP) and Patterson-UTI Energy (NASDAQ: PTEN).

As reason for the upgrades, LaMotte pointed to forecast for another three percent increase to 2014 capex budgets and an estimated eight to 10 percent growth in 2015.

Latest Ratings for BHI

DateFirmActionFromTo
Dec 2016BernsteinInitiates Coverage OnMarket Perform
Nov 2016KeyBancMaintainsOverweight
Nov 2016Atlantic EquitiesUpgradesUnderweightNeutral

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Posted-In: Guggenheim Michael LaMotteAnalyst Color News Upgrades Analyst Ratings

 

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