Stock Analysts Initiated Coverage of These Shares in the Basic Materials Sector for the Week Ending Dec 2nd

Wall St. Watchdog reveals information about companies for which stock analysts initiated coverage in the Basic Materials sector for the week ending December 2nd, 2011.

  • Newpark Res (NYSE:NR): Canaccord Genuity initiated coverage of this company with a rating of Hold and a price target of $10 on Nov 29th. The shares recently traded at $9.41, up $1.25, or 15.32% since the analyst’s rating. About the company: Newpark Resources, Inc. provides environmental services to the oil and gas exploration and production industry, primarily in the Gulf Coast market. Services include processing and disposal of oilfield exploration and production waste and drilling fluids, along with associated engineering and technical services, and fluids processing and recycling services at the rig site. Get the most recent company news and stock data here >>
  • Devon Energy (NYSE:DVN): Robert W. Baird initiated coverage of this company with a rating of Outperform and a price target of $83 on Nov 29th. The shares recently traded at $66.35, up $4.44, or 7.17% since the analyst’s rating. About the company: Devon Energy Corporation is an independent energy company that is involved primarily in oil and gas exploration, development and production, the transportation of oil, gas, and NGLs and the processing of natural gas. The Company also has marketing and midstream operations primarily in North America that include gas, crude oil and NGLs. Get the most recent company news and stock data here >>
  • Goodrich Petroleum (NYSE:GDP): Rodman & Renshaw initiated coverage of this company with a rating of Mkt Outperform and a price target of $22 on Nov 30th. The shares recently traded at $16.41, up $1.83, or 12.55% since the analyst’s rating. About the company: Goodrich Petroleum Corporation and its subsidiaries explore, develop, produce, and acquire oil and natural gas properties. The Company’s properties are located in the onshore portions of the United States, primarily in Louisiana and Texas. Get the most recent company news and stock data here >>
  • CGGVeritas (NYSE:CGV): Standpoint Research initiated coverage of this company with a rating of Buy and a price target of $31 on Dec 1st. The shares recently traded at $24.04, up $1.09, or 4.75% since the analyst’s rating. About the company: Compagnie Generale de Geophysique-Veritas (CGG-Veritas) provides geophysical services and software products and manufactures geophysical equipment. The Company’s products and services use seismic imaging to help the oil and gas industries explore and develop reserves. CGG-Veritas operates in the Americas, Asia-Pacific, Europe, the former Soviet Union, and Africa. Get the most recent company news and stock data here >>
  • Vista Gold (AMEX:VGZ): Global Hunter Securities initiated coverage of this company with a rating of Buy and a price target of $6.75 on Dec 1st. The shares recently traded at $3.61, down $0.02, or 0.55% since the analyst’s rating. About the company: Vista Gold Corp. is an international gold mining based in Littleton, Colorado. The Company has mining projects in Mexico, Australia, United States and Indonesia. Get the most recent company news and stock data here >>
  • Flotek Industries (NYSE:FTK): Global Hunter Securities initiated coverage of this company with a rating of Buy and a price target of $15 on Dec 2nd. The shares recently traded at $10.07, up $0.45, or 4.68% since the analyst’s rating. About the company: Flotek Industries, Inc. manufactures and markets downhole equipment and specialty chemicals. The Company also engineers, designs, and constructs equipment for cementing and stimulation. Flotek serves major and independent companies in the international oilfield service industry. Get the most recent company news and stock data here >>

(Note: Selected financial data are sourced from Briefing.com via the Wall St. Journal. All data are assumed to be accurate.)

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