Saipem (OTCMKTS:SAPMF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

Shares of SAPMF opened at $5.25 on Wednesday. Saipem has a 1 year low of $3.94 and a 1 year high of $6.20.

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.

Recommended Story: Return On Assets

Get a free copy of the Zacks research report on Saipem (SAPMF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Saipem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Saipem and related companies with MarketBeat.com's FREE daily email newsletter.