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Patterson-UTI Energy: Recent Weakness Reveals Relative Opportunity
Tuesday, September 5, 2017 - 10:46am | 346Shares of Patterson-UTI Energy, Inc. (NASDAQ: PTEN) have lost around 40 percent since the start of 2017, highlighted by a 26-percent decline since July 19, analysts at JPMorgan said in a research report. As such, the firm's Sean Meakim now sees Patterson-UTI's stock as being attractive enough to...
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Could Ocean Rig Be The First Of The Deepwater Dominoes To Fall?
Monday, August 15, 2016 - 11:42am | 332Ocean Rig UDW Inc. (NASDAQ: ORIG) shares plunged more than 61 percent in Friday’s session after the company reported it's continuing to explore the possibility of bankruptcy. Deepwater drilling investors were hoping that crude oil’s surge from February’s low of near $26/bbl...
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JPMorgan Sees Opportunity In Oil Services, Says M&A Will 'Take Backseat'
Thursday, May 19, 2016 - 4:37pm | 383JPMorgan analyst Sean Meakim sees plenty of bargains for selective oil services investors, but avoiding the most troubled names in the space is critical. According to Meakim, most deep-water drillers remain dangerous investments at this point. “Highly-levered offshore drillers in...
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For Halliburton, It's Now About Getting Back To Business
Wednesday, May 4, 2016 - 10:03am | 307It might still be a bumpy road for a while, but Halliburton Company (NYSE: HAL) is well-positioned to thrive in the long-term following the breakup of its potential Baker Hughes Incorporated (NYSE: BHI) merger. According to JPMorgan analyst Sean Meakim, now that Halliburton is passed the Baker...
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National Oilwell Varco Terminates Contract With EAS In Brazil: Should Investors React?
Wednesday, December 30, 2015 - 12:16pm | 208JPMorgan on Wednesday issued a company note on National-Oilwell Varco, Inc. (NYSE: NOV) after the company agreed to terminate its contract with Estaleiro Atlantico Sul in Brazil to deliver seven deepwater drilling equipment packages. The firm rates National Oilwell Varco as Neutral, while a price...
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How Much Upside Will Baker Hughes Buyout Give Halliburton?
Monday, September 28, 2015 - 11:57am | 393Halliburton Company (NYSE: HAL)'s merger with Baker Hughes Incorporated (NYSE: BHI) could be 20 percent accretive to Halliburton's 2018 earnings, according to Sean Meakim of JP Morgan. Meakim added the merger could yield a valuation range for Halliburton in the $55-$60 range....