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Evercore ISI Downgrades Drilling Companies

Kevin Riley

Evercore ISI analyst James West commented in an analyst note Monday that oil services companies estimates have been reduced across the board.

The steepest declines were forecasted for companies heavily exposed to North America where E&P expenditures are expected at -10 percent in 2015 vs. prior expectations of +8 percent.

According to the note, oil prices are not expected to fully rebound until the second half of 2015.

Below are the firm's rating changes along with current price targets:

GulfMark Offshore, Inc (NYSE: GLF) - From Hold to Sell, $20 price target

Oil States International, Inc. (NYSE: OIS) - From Buy to Hold, $50 price target

Parker Drilling Company (NYSE: PKD) - From Buy to Hold, $4 price target

RPC, Inc. (NYSE: RES) - From Buy to Hold, $18 price target

Seadrill Ltd (NYSE: SDRL) - From Buy to Hold, $20 price target

Latest Ratings for GLF

Nov 2014

Evercore ISI

Downgrades

Hold

Sell

Sep 2014

Tudor Pickering

Downgrades

Accumulate

Hold

Jul 2014

RS Platou

Downgrades

Neutral

Sell

View More Analyst Ratings for GLF
View the Latest Analyst Ratings

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