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NBR

Nabors Industries

$3.49

0.025 (0.72%)

, FET

Forum Energy

$5.65

0.06 (1.07%)

09:37
03/14/19
03/14
09:37
03/14/19
09:37

Citi downgrades Nabors to Neutral on back half weighted outlook

Citi analyst Scott Gruber downgraded Nabors Industries (NBR) to Neutral from Buy and cut his price target for the shares to $4.00 from $6.70. The analyst coupled the downgrade with an upgrade of Forum Energy (FET) to Buy from Neutral. Nabors' free cash flow outlook is weighted towards the second half of 2019, with Q1 likely to be a cash burn of $40M-plus, Gruber tells investors in a research note. He believes the magnitude of the cash burn in Q1 will lead to investors questioning if the company can reach its $200M-$250M free cash flow target for the year. With the shares up 70% year-to-date, Gruber expects a "pause" into Nabors' Q1 results. The analyst's top three picks in U.S. Oil Services are Patterson-UTI (PTEN), Keane Group (FRAC) and Forum Energy.

NBR

Nabors Industries

$3.49

0.025 (0.72%)

FET

Forum Energy

$5.65

0.06 (1.07%)

PTEN

Patterson-UTI

$13.93

0.34 (2.50%)

FRAC

Keane Group

$10.17

0.43 (4.41%)

  • 18

    Mar

  • 22

    May

NBR Nabors Industries
$3.49

0.025 (0.72%)

03/14/19
SBSH
03/14/19
DOWNGRADE
SBSH
Neutral
Nabors Industries downgraded to Neutral from Buy at Citi
02/27/19
ARGS
02/27/19
DOWNGRADE
ARGS
Sell
Argus downgrades Nabors Industries to Sell, drops coverage
As previously reported, Argus analyst David Coleman downgraded Nabors Industries to Sell from Hold and dropped coverage of the company. "We are continuously reviewing the stocks in our coverage universe in order to provide research on those that appear most promising to our analysts and that generate the most interest among our clients. After several months of discussion, the director of research has concluded that NBR no longer meets these criteria," Coleman wrote in his downgrade note.
03/10/19
GSCO
03/10/19
INITIATION
Target $4
GSCO
Neutral
Nabors Industries initiated with a Neutral at Goldman Sachs
Goldman Sachs started Nabors Industries with a Neutral rating and $4 price target.
02/27/19
ARGS
02/27/19
DOWNGRADE
ARGS
Sell
Nabors Industries downgraded to Sell from Hold at Argus
FET Forum Energy
$5.65

0.06 (1.07%)

03/14/19
SBSH
03/14/19
UPGRADE
SBSH
Buy
Forum Energy upgraded to Buy from Neutral at Citi
12/03/18
BOFA
12/03/18
INITIATION
Target $7
BOFA
Neutral
Forum Energy initiated with a Neutral at BofA/Merrill
BofA/Merrill analyst Chase Mulvehill initiated Forum Energy with a Neutral and $7 price target saying the company has too much leverage to oil price uncertainty.
01/16/19
SOCO
01/16/19
DOWNGRADE
SOCO
Equalweight
Forum Energy downgraded to Equalweight from Overweight at Capital One
03/14/19
SBSH
03/14/19
UPGRADE
Target $8
SBSH
Buy
Citi sees 'room for run' for Forum Energy shares, upgrades to Buy
Citi analyst Scott Gruber upgraded Forum Energy to Buy from Neutral and raised his price target for the shares to $8.00 from $6.50. The company has made free cash flow a priority and believes it can generate $100M annually, Gruber tells investors in a research note. The analyst sees "room to run" for the shares given that Forum just recently swung to free cash flow generation. Further, large portions of its business have suffered significant declines and thus have greater upside potential, contends Gruber.
PTEN Patterson-UTI
$13.93

0.34 (2.50%)

03/10/19
GSCO
03/10/19
INITIATION
Target $16
GSCO
Neutral
Patterson-UTI initiated with a Neutral at Goldman Sachs
Goldman Sachs started Patterson-UTI with a Neutral rating and $16 price target.
02/15/19
SBSH
02/15/19
NO CHANGE
SBSH
Citi views Keane acquisition of FTS as most attractive in Oil Service
Consolidation amongst the pressure pumpers is likely to pick up in the current period of profitability bifurcation, Citi analyst Scott Gruber tells investors in a research note. The analyst, however, believes Schlumberger (SLB) and Halliburton (HAL) seem unlikely to acquire and that consolidation looks more likely amongst the mid-tier pumpers. Of those, Keane Group (FRAC) is most likely to acquire, says the analyst. FTS International (FTSI) screens as the most likely to be acquired, although pumping segments at Patterson-UTI (PTEN) and Superior Energy (SPN) could also be targeted, contends Gruber. He believes Keane and FTS looks like the most attractive combination. Both shares could rise in the event of a deal announcement, says the analyst.
01/17/19
01/17/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Electronic Arts (EA) downgraded to Hold from Buy at Jefferies with analyst Timothy O'Shea saying the company's key profit engine Ultimate Team is plateauing. 2. First Data (FDC) downgraded to Neutral from Buy at Goldman Sachs and Mizuho, to Neutral from Overweight at Atlantic Equities, and to Market Perform from Outperform at Keefe Bruyette. 3. PulteGroup (PHM) downgraded to Sell from Neutral at BTIG with analyst Carl Reichardt citing valuation, sell-side optimism, and growing margin pressure. 4. Aegon (AEG) downgraded to Sell from Neutral at Citi. 5. Patterson-UTI (PTEN) downgraded to Neutral from Overweight at JPMorgan with analyst Sean Meakim saying while the company's Q4 rig count exceeded guidance, its exposure to smaller Exploration & Production companies increases its potential rig losses in 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/17/19
JPMS
01/17/19
DOWNGRADE
Target $12
JPMS
Neutral
Patterson-UTI downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Sean Meakim downgraded Patterson-UTI Energy to Neutral and lowered his price target for the shares to $12 from $16. While the company's Q4 rig count exceeded guidance, its exposure to smaller Exploration & Production companies increases its potential rig losses in 2019, Meakim tells investors in a research note. Further, the analyst expects pressure pumping margins to compress through at least the first half of 2019 as pricing degrades.
FRAC Keane Group
$10.17

0.43 (4.41%)

01/17/19
STFL
01/17/19
NO CHANGE
STFL
Stifel lowers Oilfield Services and Equipment estimates
Stifel analyst Stephen Gengaro said he expects overall E&P capital spending to be about flat in the U.S. market and he cut his forecast for U.S. drilling and completion activity based on the current WTI crude oil strip. He lowered his U.S rig count projections by 50 to 1,050 rigs in 2019 and by 100 to 1,150 rigs in 2020 and he cut his 2019 EBITDA forecast by roughly 10% on average. Based on the changes in estimates, Gengaro lowered his earnings expectations for the majority of the names he covers and cut his price targets on several. Among the largest target changes, he lowered his price target on Core Laboratories (CLB) to $86 from $110, cut his target on Emerge Energy (EMES) to $3 from $5, reduced his target on Halliburton (HAL) to $37 from $45 and trimmed his target on Superior Energy (SPN) to $5 from $9. Others in the space that Gengaro covers include Baker Hughes (BHGE), DMC Global (BOOM), Civeo (CVEO), Keane Group (FRAC), FTS International (FTSI), Liberty Oilfield Services (LBRT), National Oilwell (NOV), Oil States (OIS), Pioneer Energy (PES), ProPetro Holding (PUMP), RPC, Inc. (RES), Schlumberger (SLB), U.S. Silica (SLCA), Smart Sand (SND), Solaris Oilfield (SOI), Tenaris (TS), Tetra Technologies (TTI) and Weatherford (WFT).
01/10/19
JEFF
01/10/19
NO CHANGE
JEFF
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."
03/10/19
GSCO
03/10/19
INITIATION
Target $12
GSCO
Neutral
Keane Group initiated with a Neutral at Goldman Sachs
Goldman Sachs started Keane Group with a Neutral rating and $12 price target.

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INTC

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-5.62 (-9.76%)

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$27.32

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F

Ford

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0.965 (10.26%)

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MMM

3M

$190.77

0.1 (0.05%)

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$13.20

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HBM

Hudbay Minerals

$6.70

0.11 (1.67%)

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10:25
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SCHW

Charles Schwab

$44.93

-0.385 (-0.85%)

10:25
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DIS

Disney

$138.97

1.67 (1.22%)

10:24
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LOGC

LogicBio Therapeutics

$13.20

(0.00%)

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  • 06

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GS

Goldman Sachs

$201.34

-0.11 (-0.05%)

10:22
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MTN

Vail Resorts

$217.80

0.5 (0.23%)

, TOCA

Tocagen

$9.55

0.42 (4.60%)

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MTN

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$217.80

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Dow Inc.

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GILD

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$64.80

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REED

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$3.94

0.06 (1.55%)

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SBUX

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, AXTA

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CLF

Cleveland-Cliffs

$9.83

0.12 (1.24%)

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Argo Group

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CLF

Cleveland-Cliffs

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ARGO

Argo Group

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ITW

Illinois Tool Works

$152.18

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MDCO

The Medicines Co.

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ESPR

Esperion

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1.09 (2.53%)

SFLY

Shutterfly

$43.11

0.81 (1.91%)

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MDLZ

Mondelez

$49.97

-0.02 (-0.04%)

10:20
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WBC

Wabco

$133.12

-0.08 (-0.06%)

10:17
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Downgrade
Wabco rating change  »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
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10:17
Technical Analysis
NASDAQ market internals summary »

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DIS

Disney

$139.40

2.1 (1.53%)

, SSNLF

Samsung

$0.00

(0.00%)

10:16
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DIS

Disney

$139.40

2.1 (1.53%)

SSNLF

Samsung

$0.00

(0.00%)

SPOT

Spotify

$134.88

2.08 (1.57%)

FOX

Fox Corp.

$37.49

-0.13 (-0.35%)

CMCSA

Comcast

$43.19

0.24 (0.56%)

T

AT&T

$30.64

0.305 (1.01%)

AMZN

Amazon.com

$1,905.19

2.66 (0.14%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
04/26/19
04/26
10:16
04/26/19
10:16
Technical Analysis
NYSE market internals summary »

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AMZN

Amazon.com

$1,901.49

-1.04 (-0.05%)

, UPS

UPS

$103.84

-1.29 (-1.23%)

10:11
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On The Fly
Amazon 'goes for the jugular' with one-day Prime shipping »

Shares of Amazon.com…

AMZN

Amazon.com

$1,901.49

-1.04 (-0.05%)

UPS

UPS

$103.84

-1.29 (-1.23%)

WMT

Walmart

$101.87

-1.65 (-1.59%)

TGT

Target

$78.14

-3.6 (-4.40%)

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USO

United States Oil Fund

$13.29

-0.23 (-1.70%)

10:10
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04/26
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10:10
Options
Size option block in US Oil Fund as shares slip »

Size option block in US…

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RIG

Transocean

$8.74

-0.19 (-2.13%)

10:05
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04/26
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10:05
Options
Transocean call volume above normal and directionally bullish »

Bullish option flow…

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10:05
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General news
U.S. consumer sentiment improved to 97.2 in the final April reading »

U.S. consumer sentiment…

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