TD Cowen changes PT on US oilfield services companies

Helmerich & Payne

07/01/2026 14:50

** TD Cowen changes PT on U.S.-based oilfield services company, following capture of Nicolás Maduro and as investors anticipate increased oilfield investment in Venezuela

** Brokerage says increased investment in Venezuela will take time and need strong U.S. government guarantees

** "The stock move seems overdone given Venezuela’s small revenue share, but OFS stocks remain attractively valued and Venezuela could still act as a catalyst," TD Cowen says

** However, brokerage cuts PT on Baker Hughes BKR.O and SLB SLB.N citing guidance risks and conservative outlook, with prior SLB revisions tempering upside

Brokerage changes PT on following companies:

Company
New PT
Old PT
Upside/Downside to stock's last close
HalliburtonHAL.N
$39
$38
26.5%
Helmerich and PayneHP.N
$35
$33
12.68%
Liberty Energy LBRT.N
$19
$15
No change
NOV INC NOV.N
$22
$19
30.17%
Baker Hughes BKR.O
$55
$57
11.38%
SLB SLB.N
$55
$57
26.06%

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com))