Goldman Sachs: Halliburton Attractive, Deepwater Outlook Bleak (HAL, ATW, DO)

source:insurancenewsnet.com
With the recent Gulf oil spill and the new government regulations expected for deepwater drilling, Goldman Sachs is bullish on land drilling, where deepwater drilling money could be reallocated towards.

Goldman Sachs is favoring diversified oil service companies and land drillers with improving fundamentals and attractive valuation. These companies include Halliburton (NYSE: HAL), Ensco (NYSE: ESV), Nabors (NYSE: NBR), Helmerich & Payne (NYSE: HP), and Bristow (NYSE: BRS), which are all buy rated. Goldman sees deepwater drillers with deteriorating fundamentals as bad investments. Atwood Oceanics (NYSE: ATW) and Diamond Drilling (NYSE: DO) are both sell rated.