Goldman Analyst's Hesistant View On Oil Companies

The tumultuous year for oil companies may not be over yet, believes Goldman analyst Waqar Syed. In a report issued by Bloomberg, Syed cuts his EPS estimates for the big 3 oil companies Schlumberger Limited

, Halliburton Company

, and Baker Hughes Incorporated

. One of the reasons for the caution is his belief that the service pricing environment has "deteriorated significantly" since fourth quarter earnings. Following this statement, he expects these three companies will revise their first quarter expectations within the next few weeks. One venue where this could possibly occur, is the Credit Suisse Energy Summit taking place on Feb. 24th, where all three companies will be in attendance. As a contrary position to Syed's views, BMO rated each of the three oil companies mentioned above as Outperform. In their report, they mention that it is time to buy early-cycle stocks, driving these particular ratings. Regardless of the position of either firm, February 24th is a date to mark on your calendar if you follow these oil companies.