Basic Materials Sector Stock Downgrades to Watch

November 08, 2011

Wall St. Watchdog reveals information about companies for which stock analysts downgraded shares in the Basic Materials sector for the week ending November 4th, 2011:

Complete Production Services (NYSE:CPX): Canaccord Genuity downgraded its rating on this company from Buy to Hold on Oct 31st. The shares recently traded at $33.98, up $1.18, or 3.6% since the analyst’s rating. About the company: Complete Production Services, Inc. offers services to the oil and natural gas production industry. The Company establishes, maintains, and enhances the flow of oil and gas throughout the life of a well, offers land drilling, specialized rig logistics and site preparation services, and offers products such as completion, flow control and artificial lift equipment, and tubular goods. Get the most recent company news and stock data here >>
Boardwalk Pipeline (NYSE:BWP): Morgan Keegan downgraded its rating on this company from Outperform to Mkt Perform on Oct 31st. The shares recently traded at $28.51, down $0.07, or 0.24% since the analyst’s rating. About the company: Boardwalk Pipeline Partners, LP transports, gathers, and stores natural gas. The Company owns and operates interstate pipeline systems that either serve customers directly or indirectly throughout the northeastern and southeastern United States. Get the most recent company news and stock data here >>
Legacy Reserves (NASDAQ:LGCY): Robert W. Baird downgraded its rating on this company from Outperform to Neutral and changed its price target to $31 on Oct 31st. The shares recently traded at $30.05, up $0.58, or 1.97% since the analyst’s rating. About the company: Legacy Reserves acquires and explores for oil and natural gas properties in the United States. Get the most recent company news and stock data here >>
Genesis Energy, L.P. (NYSE:GEL): Robert W. Baird downgraded its rating on this company from Outperform to Neutral and changed its price target to $29 on Oct 31st. The shares recently traded at $26.26, up $0.3, or 1.16% since the analyst’s rating. About the company: Genesis Energy, L.P. owns and operates crude oil gathering, marketing, and pipeline operations. The Company purchases and aggregates crude oil at the wellhead and at pipeline and terminal facilities for resale to refineries and other customers. Genesis Energy operates principally in Texas, Louisiana, New Mexico, Florida, Mississippi, Kansas, and Oklahoma. Get the most recent company news and stock data here >>
Comstock (NYSE:CRK): Stifel Nicolaus downgraded its rating on this company from Buy to Hold on Nov 1st. The shares recently traded at $18.92, up $2.05, or 12.15% since the analyst’s rating. About the company: Comstock Resources, Inc., an independent exploration and production company, acquires, develops, produces, and explores oil and natural gas properties. The Company’s oil and natural gas reserves are located in the Gulf of Mexico, Texas, and Louisiana. Get the most recent company news and stock data here >>
Praxair (NYSE:PX): Argus downgraded its rating on this company from Buy to Hold on Nov 2nd. The shares recently traded at $101.03, up $0.57, or 0.57% since the analyst’s rating. About the company: Praxair, Inc. supplies gas to industries primarily located in North and South America. The Company produces, sells, and distributes atmospheric gases including oxygen, nitrogen, argon, and rare gases, as well as process gases including carbon dioxide, helium, hydrogen, electronics gases, and acetylene. Praxair also supplies metallic and ceramic coatings and powders. Get the most recent company news and stock data here >>
ONEOK Partners (NYSE:OKS): Stifel Nicolaus downgraded its rating on this company from Buy to Hold on Nov 2nd. The shares recently traded at $49.53, down $0.26, or 0.52% since the analyst’s rating. About the company: ONEOK Partners, L.P., through a subsidiary limited partnership, owns a general partner interest in a master limited partnership. The partnership owns an interstate pipeline system that transports natural gas primarily in the upper Midwest and Mid Continent regions of the United States. Get the most recent company news and stock data here >>
Randgold Resources (NASDAQ:GOLD): BMO Capital Markets downgraded its rating on this company from Outperform to Market Perform on Nov 3rd. The shares recently traded at $119.41, up $0.67, or 0.56% since the analyst’s rating. About the company: Randgold Resources Limited is a gold mining and exploration company. The Company conducts gold mining operations in regions throughout the gold regions of Africa. Get the most recent company news and stock data here >>
Magellan Midstream (NYSE:MMP): Ladenburg Thalmann downgraded its rating on this company from Buy to Neutral on Nov 4th. The shares recently traded at $63.46, down $0.62, or 0.97% since the analyst’s rating. About the company: Magellan Midstream Partners, L.P. is primarily involved in the storage, transportation, and distribution of refined petroleum products and ammonia. The Company’s asset portfolio includes a pipe line system serving the mid-continent region of the United States, petroleum products marine terminal facilities, petroleum products terminals, and an ammonia pipeline system. Get the most recent company news and stock data here >>
Exterran Holdings (NYSE:EXH): Howard Weil downgraded its rating on this company from Market Outperform to Market Perform and changed its price target from $21 to $15 on Nov 4th. The shares recently traded at $11.67, up $0.02, or 0.17% since the analyst’s rating. About the company: Exterran Holdings Inc. is a holding company. The Company, through its subsidiaries, provides natural gas compression services as well as provides service, fabrication and equipment for oil and natural gas production, processing and transportation applications. Get the most recent company news and stock data here >>