Cowen & Company Revises Recommendation on a Number of Drillers

Earlier today, Cowen & Company released a note in which it revised it recommendation on a number of players in oil and natural gas services industry. Since the release of the note, a handful of the stocks are experiencing huge swings. Upgrades

• Basic Energy Services, Inc. BAS: Market Perform to Outperform, Price target $23 to $19, Trading up ~13 percent
• Nabors Industries Ltd. NBR: Market Perform to Outperform, $31 to $25, Up ~7 percent
• Newpark Resources, Inc. NR: Market Perform to Outperform, Up ~3 percent
• RPC, Inc. RES: Market Perform to Outperform, $25 to $23, Up ~4 percent
• Tesco Corporation TESO: Market Perform to Outperform, $24 to $22, Up ~4 percent

Downgrades

• CHC Group Ltd. HELI: Outperform to Market Perform, $12 to $9
• Geospace Technologies Corporation GEOS: Outperform to Market Perform, $70 to $40, Down ~3.5 percent
• Transocean Ltd. RIG: Outperform to Market Perform, $39 to $30
• Hercules Offshore, Inc. HERO: Outperform to Market Perform, $4 to $2, down ~3 percent
• Vantage Drilling Company VTG: Outperform to Market Perform, $2.50 to $1