Saipem (OTCMKTS:SAPMF) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Saipem (OTCMKTS:SAPMF) from a buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Saipem S.p.A. provides drilling services as well as engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore primarily in the oil & gas market. Saipem S.p.A. is headquartered in Milan, Italy. “

SAPMF opened at $4.95 on Wednesday. The firm has a 50 day moving average price of $4.64 and a 200-day moving average price of $5.04. Saipem has a twelve month low of $4.40 and a twelve month high of $4.95.

About Saipem

Saipem S.p.A., together with its subsidiaries, engages in the drilling, engineering, procurement, construction, and installation businesses worldwide. The company operates through five divisions: Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling, and Floaters segments. It provides engineering, procurement, project management, and construction services primarily for the oil and gas, complex civil and marine infrastructure, and environmental markets.

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