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SPN

Superior Energy

$4.28

0.38 (9.74%)

, FRAC

Keane Group

$9.37

0.52 (5.88%)

08:40
01/10/19
01/10
08:40
01/10/19
08:40

Jefferies downgrades Superior Energy to Underperform, Keane Group to Hold

Oil Services & Equipment companies are worth less than historically given structural challenges and a looming fifth year of estimate cuts, Jefferies analyst Brad Handler tells investors in a research note. Following the recent weakness in the sector, the analyst is only downgrading two names. However, he encourages investors to look to sell into any rallies if the current upswing trade "has legs." Handler's top sector picks are Baker Hughes (BHGE), Helmerich & Payne (HP) and Apergy (APY). Each has distinct growth potential, generate cash and have low or manageable debt, he says. The analyst downgrades Superior Energy to Underperform from Hold and lowered his price target for the shares to $3 from $4.50. He also downgrades Keane Group (FRAC) to Hold from Buy and lowered his price target for the shares to $10 from $12. Both companies are "vulnerable to more earnings erosion," Handler writes. He believes Superior's offshore outlook appears less prospective given lower oil prices while its underperforming U.S. businesses can cede more price. For Keane, the analyst fears price erosion as dedicated customers "re-up." He also believes consensus estimates "carry much higher EBITDA/fleet than for several peers."

SPN

Superior Energy

$4.28

0.38 (9.74%)

FRAC

Keane Group

$9.37

0.52 (5.88%)

BHGE

Baker Hughes

$23.17

-0.04 (-0.17%)

HP

Helmerich & Payne

$53.51

2.49 (4.88%)

APY

Apergy

$32.19

-0.51 (-1.56%)

  • 10

    Feb

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    Feb

  • 28

    May

SPN Superior Energy
$4.28

0.38 (9.74%)

01/10/19
JEFF
01/10/19
DOWNGRADE
JEFF
Underperform
Superior Energy downgraded to Underperform from Hold at Jefferies
Jefferies analyst Brad Handler downgraded Superior Energy to Underperform.
01/07/19
01/07/19
DOWNGRADE
Target $4

Market Perform
Superior Energy downgraded to Market Perform at Wells Fargo
As previously reported, Wells Fargo analyst Judson Bailey downgraded Superior Energy to Market Perform from Outperform due to its leveraged balance sheet and lack of free cash flow for the foreseeable future. The analyst also lowered his price target on the shares to $4 from $6.
01/07/19
WELS
01/07/19
DOWNGRADE
WELS
Market Perform
Superior Energy downgraded to Market Perform from Outperform at Wells Fargo
12/31/18
PIPR
12/31/18
NO CHANGE
Target $5
PIPR
Overweight
Superior Energy price target lowered to $5 from $9 at Piper Jaffray
Piper Jaffray analyst John Daniel lowered his estimates for Superior Energy Services to reflect his expectation for declining drilling activity this year and a more competitive L48 OFS market. His firm's recent rig count forecast calls for a year-over-year decline in L48 drilling activity in 2019, driven by an expected 130 rig count decline in Q1. Similar to other Smid-Cap enterprises, Superior Energy "endures a seemingly unending beating every day" as the stock is down nearly 70% from its Q3 highs, Daniel tells investors in a research note. The analyst, despite lowering his price target for the shares to $5 from $9, keeps an Overweight rating on the name.
FRAC Keane Group
$9.37

0.52 (5.88%)

01/10/19
JEFF
01/10/19
DOWNGRADE
JEFF
Hold
Keane Group downgraded to Hold from Buy at Jefferies
Jefferies analyst Brad Handler downgraded Keane Group to Hold.
12/27/18
12/27/18
NO CHANGE

Stephens to keep GrubHub, RealPage, Vulcan Materials on 2019 Best Ideas list
Stephens said that it plans to publish a complete updated 2019 Best Ideas list on January 2, but in anticipation it shared the names that are being dropped and the three stocks that will remain on the list. The holdovers are GrubHub (GRUB), RealPage (RP) and Vulcan Materials (VMC). The stocks being removed include Boston Scientific (BSX), Brookdale Senior Living (BKD), Conn's (CONN), CoStar Group (CSGP), Curo Group (CURO), FedEx (FDX), First Financial Bancorp (FFBC), Graphic Packaging (GPK), Hub Group (HUBG), Keane Group (FRAC), KeyCorp (KEY), LKQ Corp. (LKQ), Myriad Genetics (MYGN), SVB Financial (SIVB), Triumph Bancorp (TBK), TrueCar (TRUE) and Union Bankshares (UBSH).
12/21/18
OTRG
12/21/18
NO CHANGE
OTRG
Pressure Pumping & Completions sector downgraded to Negative at OTR Global
OTR Global downgraded the Pressure Pumping and Completions sector to Negative from Mixed following checks that indicate Major shale E&Ps are lowering 2019 capex plans year-over-year, leading to reduced completion budgets and increasing competition among oilfield service groups.
11/02/18
WELS
11/02/18
UPGRADE
Target $16
WELS
Outperform
Keane Group upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Judson Bailey upgraded Keane Group to Outperform and raised his price target for the shares to $16 from $13. An attractive valuation and solid free cash flow generation sets up a favorable risk/reward while waiting for a re-acceleration in activity in the second half of 2019, Bailey tells investors in a research note. The analyst views Keane as a "top tier pressure pumper that now trades at a discount to peers."
BHGE Baker Hughes
$23.17

-0.04 (-0.17%)

12/26/18
PIPR
12/26/18
NO CHANGE
PIPR
Piper Jaffray lowers Core Labs, Liberty Oilfield Services, Oil States targets
Piper Jaffray analyst Bill Herbert has updated his supply/demand framework for the oil sector in Q4 with the assumption of oil prices trading near the low end of the $50-$60 per barrel range in the first half of 2019. The analyst says he is also lowering his drilling rig forecast to reflect the numerous field level activity and reducing his price target on Oil Service names to reflect the findings. Herbert lowers the price target on Basic Energy Services (BAS) to $10 from $11, Baker Hughes (BHGE) to $33.50 from $38, C&J Energy (CJ) to $23.50 from $29, FTS International (FTSI) to $12.50 from $17.25, Gardner Denver (GDI) to $29 from $32, Liberty Oilfield Services (LBRT) to $21 from $27, National Oilwell (NOV) to $32 from $42, Oil States (OIS) to $17 from $25.50, Quintana Energy Services (QES) to $8 from $11.50, RPC Inc (RES) to $11.75 from $15.25, Tenaris (TS) to $34 from $42.50, Mammoth Energy Services (TUSK) to $28 from $36.50, Select Energy Services (WTTR) to $15.15 from $16.50, and Cactus (WHD) to $32 from $44.
12/19/18
FBCO
12/19/18
UPGRADE
Target $25
FBCO
Outperform
Baker Hughes upgraded to Outperform at Credit Suisse
As previously reported, Credit Suisse analyst James Wicklund upgraded Baker Hughes to Outperform from Neutral as he updates his sector-wide macro forecasts for a lower expected oil price. The analyst also lowered his price target on the shares to $25 from $33.
12/28/18
WELS
12/28/18
NO CHANGE
WELS
Wells sees 'rocky times ahead' for Oil Services and Equipment market
Emerging data points suggest "rocky times ahead" for the North American Oil Services and Equipment market in early 2019, Wells Fargo analyst Judson Bailey tells investors in a research note. As oil prices and macro conditions have weakened to end 2018, a number of recent conversations suggest a "quickly deteriorating" outlook for exploration and production budgets, activity levels and pricing over the first few months of 2019, adds the analyst. He believes the case for "much needed consolidation" across the U.S. oilfield services landscape "has never been greater."
12/19/18
FBCO
12/19/18
UPGRADE
FBCO
Outperform
Baker Hughes upgraded to Outperform from Neutral at Credit Suisse
HP Helmerich & Payne
$53.51

2.49 (4.88%)

12/07/18
12/07/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Tesla (TSLA) upgraded to Buy from Hold at Jefferies with analyst Philippe Houchois saying while the shares have done well since the Q3 report with Tesla having demonstrated its profit and self-funding potential, the company's growth becomes "value-accretive" just as peers are engaging in a mostly negative electric vehicle "sum game." 2. Helmerich & Payne (HP) upgraded to Neutral from Sell at Seaport Global with analyst Mike Urban citing valuation and expectations for a continued fundamental improvement through at least 1H 2019, regardless of commodity pricing. 3. FactSet (FDS) upgraded to Equal Weight from Underweight at Barclays with analyst Manav Patnaik saying while he understands the concerns causing the pullback in the capital markets names, this also presents attractive accumulation opportunities for long-term investors. 4. Five Below (FIVE) upgraded to Overweight from Equal Weight at Barclays. 5. SS&C (SSNC) upgraded to Strong Buy from Buy at Needham with analyst Mayank Tandon citing the "compelling valuation" on the stock trading at 13.5-times his expected forward earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/02/19
SPHN
01/02/19
NO CHANGE
SPHN
CBS, Global Payments, Union Pacific among Stephens' best ideas for 2019
Stephens released its Best Ideas list for 2019, noting that over the last 13 years its Best Ideas list has outperformed the Russell 2000 by an average of 300 bps. Of note, six of the firm's 30 analysts listed "cash" as their best idea for this year. Among the rest, the picks included: Landstar System (LSTR), Enova (ENVA), RealPage (RP), FMC Corporation (FMC), Avanos (AVNS), Knight-Swift (KNX), CBS (CBS), Vulcan Materials (VMC), Encompass Health (EHC), Watsco (WSO), Global Payments (GPN), O'Reilly Automotive (ORLY), NeoGenomics (NEO), Continental Resources (CLR), Union Pacific (UNP), Ametek (AME), Wintrust Financial (WTFC), Helmerich & Payne (HP), Penske Automotive (PAG), Signature Bank (SBNY), Noble Energy (NBL), Origin Bancorp (OBNK), GrubHub (GRUB) and CenterState Bank (CSFL).
12/11/18
WELS
12/11/18
UPGRADE
Target $72
WELS
Outperform
Helmerich & Payne upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Judson Bailey upgraded Helmerich & Payne to Outperform from Market Perform, stating that land driller estimates generally held up the best as he reduced his EPS and EBITDA estimates across the OFS universe in conjunction with the lower oil price estimates rolled out by the firm's E&P team. The rig count is tracking slightly above his prior forecast and he forecasts continued tightness in the super spec market, Bailey added. He maintains a $72 price target on Helmerich & Payne shares.
12/18/18
RBCM
12/18/18
NO CHANGE
Target $90
RBCM
Outperform
Helmerich & Payne added to RBC Global Equities Top 30 list
RBC Capital analyst Kurt Hallead kept his Outperform rating and $90 price target on Helmerich & Payne while adding the stock to the "RBC Global 30 for 2019" list. The analyst is positive on the company's "dominant market position for super spec land rigs, its ability to increase share, solid capital structure and its 47 year track record of dividend increases." Hallead further notes that Helmerich & Payne enjoys a #1 position in the "super-spec market in the U.S." and could deploy up to 277 super-spec rigs without additional build-out investment.
APY Apergy
$32.19

-0.51 (-1.56%)

12/03/18
BOFA
12/03/18
INITIATION
Target $40
BOFA
Buy
Apergy initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Chase Mulvehill initiated Apergy with a Buy and $40 price target saying telling investors the company is poised to benefit from increases in U.S. footage drilled that will increase its technology offerings and the increase of US onshore wells.
10/10/18
WOLF
10/10/18
INITIATION
Target $53
WOLF
Outperform
Apergy initiated with an Outperform at Wolfe Research
Wolfe Research initiated Apergy with an Outperform and $53 price target calling it a "top equipment idea."
07/17/18
07/17/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Ambarella (AMBA) initiated with a Neutral at BofA/Merrill. 2. New Relic (NEWR) initiated with a Hold at Argus. 3. Adecogro (AGRO) initiated with a Buy at Santander. 4. ElectroCore (ECOR) initiated with a Buy at BTIG and an Outperform at JMP Securities. 5. Apergy (APY) initiated with a Buy at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/18
JEFF
07/17/18
INITIATION
Target $50
JEFF
Buy
Apergy initiated with a Buy at Jefferies
Jefferies analyst Saurabh Pant started Apergy with a Buy rating and $50 price target. The analyst expects North America onshore artificial lift growth to accelerate after lagging cycle-to-date and for Apergy to continue to gain share. She thinks share catalysts include positive earnings surprises.

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UQM

UQM Technologies

$1.10

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SNY

Sanofi

$41.50

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RTN

Raytheon

$165.11

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IBCP

Independent Bank

$22.80

-0.11 (-0.48%)

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EDIT

Editas Medicine

$26.16

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GOOG

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Lithia Motors

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TS

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