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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?


To: Czechsinthemail who wrote (6901)1/7/1998 1:14:00 PM
From: Teddy  Respond to of 95453
 
Must be time to upgrade a few drillers, everyone else in oil has been upped:

NEW YORK, Jan 7 (Reuters) - UBS Securities said on Wednesday it raised its rating on the exploration and production
copanies and recommended overweighting the group because valuations looked attractive.

-- Analyst Michael Barbis upgraded Burlington Resources Inc (NYSE:BR - news), Devon Energy Corp (AMEX:DVN -
news), Enron Oil & Gas Co (NYSE:EOG - news), Newfield Exploration Co (NYSE:NFX - news) and Snyder Oil Corp
(NYSE:SNY - news) to buy from hold.

-- ''The group is selling at a 21 percent discount to its historic multiple based on our reasonably conservative outlook for 1998
oil and gas prices,'' analyst Barbis said.

-- Believes exploration and production group has only five to 10 percent downside potential while might have 25 percent
upside potential, he said.

-- Burlington up 3/16 to 41-5/8, Devon down 1-11/16 to 36-1/4, Newfield up 11/16 to 21-9/16, Snyder up 1/8 to 16-3/4
and Enron Oil up 1/8 to 19-3/4.
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