Cramer: Getting to the Bottom of Natural Gas: Hear Jim Cramer's latest take on this volatile energy sector.

Click here to watch the video.

BJ Services (BJS) downgraded from buy to hold.

It's the sleeper hit of the sector

I think natural gas is a buy. Look at Chesapeake Energy (CHK) as well as BJ Services (BJS) and Nabors Industries (NBR).

3 Stocks I Saw on TV
Dan Fitzpatrick examines three stocks viewed on Fast Money. Today's stocks include Baker Hughes, Chesapeake and BJ Services.

Click here to watch the video.

Noting solid performance in fellow energy stocks Apache (APA) and BJ Services (BJS), Cramer said, "Don't forget Halliburton, which is deeply connected to North American natural gas drilling."

Merrill Lynch said it is upgrading BJ Services (BJS) to Buy from Neutral based on valuation and potential upturn in domestic drilling activity. Believe pressure pumping companies stand to benefit most in 2008/2009. Price target at $33.

BJ Services (BJS) was upgraded from Sell to Neutral, Goldman Sachs said. Company should benefit from higher near-term natural gas prices.

Recognized the probable strong demand for its pressure pumping technology

From Barron's 7-16-07:

Buy - Price 28.64 on July 10
by Sterne Agee
"BJS is primarily a provider of pressure pumping, roughly equally sharing the worldwide market with Halliburton and Schlumberger. The shares of all three declined significantly (28% to 38%) as Canadian gas producers dramatically cut drilling activity. While the other two have recovered, BJS' shares are still down [by] over one-third and now sell at a discount versus premium valuation. We believe that as the Canadian gas activity picks up...the current low valuation will have proven to be an attractive entry point. Target: 34."

a cramer pick i road down from 31 to 11

BJ Services has been in long term downtrend last 2yrs. Its been recommended by Pete Najarian,Eric Bolling and Karen Finerman over the last 3 months. However, the price continues to suffer. Even the Street.Com Value Investor has repeadly called a bottom in the stock, but it continues too suffer and he keeps averging down. Hopefully, 2008 we will see better results from poor management.

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