Analysts downgrade energy companies because of fall in oil prices

A number of analysts recently downgraded dozens of stocks in the oil and gas industry after the price of crude “slipped into a bear market, falling more than 20% percent from its highest close this year,” reports FuelFix.com. The news site says analysts took an “increasingly pessimistic view of the world’s ability to soak up the global oversupply of petroleum.” Schlumberger Ltd., Royal Dutch Shell Plc., Hess Corp., Chevron Corp. and BP Plc. were among the companies to have their ratings cut, according to FuelFix. For more, read the full story.

National