Cowen & Company Revises Recommendation On Several Drillers

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 experienced huge swings.

Upgrades

• Basic Energy Services, Inc. (NYSE: BAS): Market Perform to Outperform, price target $23 to $19, trading up 6 percent
• Nabors Industries Ltd. (NYSE: NBR): Market Perform to Outperform, $31 to $25, up 1 percent
• Newpark Resources, Inc. (NYSE: NR): Market Perform to Outperform, up 1 percent
• RPC, Inc. (NYSE: RES): Market Perform to Outperform, $25 to $23, up 1.8 percent
• Tesco Corporation (NASDAQ: TESO): Market Perform to Outperform, $24 to $22, down 0.5 percent

Downgrades

• Geospace Technologies Corp (NASDAQ: GEOS): Outperform to Market Perform, $70 to $40, down 7.4 percent
• Transocean Ltd (NYSE: RIG): Outperform to Market Perform, $39 to $30, down 4 percent
• Hercules Offshore, Inc. (NASDAQ: HERO): Outperform to Market Perform, $4 to $2, down 8 percent
• Vantage Drilling Company (NYSE: VTG): Outperform to Market Perform, $2.50 to $1, down 2 percent