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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
Jun 2017GuggenheimDowngradesBuyNeutral
Apr 2017BMO CapitalDowngradesOutperformMarket Perform
Apr 2017HSBCInitiates Coverage OnHold

View More Analyst Ratings for BHI
View the Latest Analyst Ratings

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

 

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