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Pride International, Inc. (PDE) [hlAlert]

Rating:
Market Perform
PDE
up 27.44 %

Pride International, Inc. (PDE) downgraded to Market Perform by Howard Weil

Posted on: Tuesday,  Feb 8, 2011  8:25 AM ET by Howard Weil

Howard Weil rated Market Perform Pride International, Inc. (NYSE: PDE) on 02/08/2011. Previously Howard Weil rated Market Outperform Pride International, Inc. (NYSE: PDE)
on 12/20/2010., when the stock price was $30.93. Since then, Pride International, Inc. has gained 27.45% as of 02/08/2011's recent price of $39.42.
If you would have followed the previous Howard Weil's recommendation on PDE, you would have gained 27.44% of your investment in 50 days.

Pride International, Inc. (Pride) is an offshore drilling contractor operating, as of February 02, 2009, a fleet of 44 rigs, consisting of two deepwater drillships, 12 semisubmersible rigs, 27 jackups and three managed deepwater drilling rigs. The Company has four ultra-deepwater drillships under construction. Its customers include integrated oil and natural gas companies, state-owned national oil companies and independent oil and natural gas companies. Pride?s operations are conducted in oil and natural gas basins, including South America, the Gulf of Mexico, West Africa, the Mediterranean Sea, the Middle East and Asia Pacific. It provides contract drilling services to oil and natural gas exploration and production companies through the use of mobile offshore drilling rigs in United States and international waters. Pride provides the rigs and drilling crews and is responsible for the payment of operating and maintenance expenses.

Howard Weil’s team of research professionals currently cover approximately 100 public energy companies, including major integrated oil companies, independent refiners, exploration and production companies, oilfield services companies, gas and power, coal producers and other energy companies. Our research analysts engage in ongoing dialogue with company management and constant internal analysis in order to give Howard Weil’s clients an in-depth understanding of the companies we cover, as well as current insights on the global energy marketplace.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/8/2011 8:25 AM Hold
None
39.42
as of 12/30/2011
1 Week   
1 Month   
3 Months   
1 YTD up  19.45 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/20/2010 10:25 AM Buy
None
30.93 38.00
6/22/2010 9:25 AM Buy
None
25.37
10/8/2008 11:25 AM Buy
None
18.99

(*) Stock Price at the time of the recommendation.
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