Goldman Sachs Changes Oil Services Ratings (HAL, WFT, SII, SLB, BHI)

April 10, 2008 by Douglas A. McIntyre

Goldman Sachs has made a change in its oil services sector expectation this morning: 

It has raised Halliburton (NYSE: HAL) to Buy from Neutral and has raised 2008 EPS estimates by about 2.5% and raised 2009 EPS estimates by almost 2%.  This has been some time now, but Halliburton was Jim Cramer’s #3 Value Pick for 2007.

Weatherford International Ltd. (NYSE: WFT) was downgraded from Buy to Neutral, and Weatherford’s EPS estimates for 2008 and 2009 have been lowered slightly.

Estimates were also raised for Smith (NYSE: SII), Schlumberger (NYSE: SLB), Baker Hughes (NYSE: BHI).

Shares of Halliburton are indicated up over 1.5% at $42.85 in pre-market trading.

Jon C. Ogg
April 10, 2008

Jon Ogg produces the Special Situation Investing Newsletter.  He can be reached at and he does not own securities in the companies he covers.