BMO Capital Markets has just released its coverage for a group of major oil and gas stocks. Recently, oil has made a slight recovery after having fallen over 50% from its highs this past summer. This bump we are currently seeing might signal that a bottom has been found but it also may very well be a brief bounce before it turns lower.

In its analysis, BMO offered three major stocks to buy and two to sell.

Weatherford International PLC (NYSE: WFT) was initiated with an Outperform rating and price target of $16. This rating can be attributed to a recent earnings beat, as well as what seems like a recovery in oil prices. Shares of Weatherford were relatively flat at $12.54 in the second half of the trading day Wednesday. The stock has a consensus analyst price target of $13.57 and a 52-week trading range of $9.40 to $24.88.

Schlumberger Ltd. (NYSE: SLB) was initiated with an Outperform rating and price target of $105. Despite falling oil prices over the past eight months, Schlumberger has been one of the more resilient companies. If oil prices make a handy recovery, Schlumberger would be in one of the best positions to take advantage. Shares of Schlumberger were down 1% at $87.82. The consensus analyst price target is $92.55, and the 52-week trading range is $75.60 to $118.76.

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Patterson-UTI Energy Inc. (NASDAQ: PTEN) was initiated with an Outperform rating and price target of $23. This rating was driven by a bullish view of U.S. land activity in 2016. The firm expects land activity to increase by 60% off the projected third-quarter trough. Patterson’s land fleet is also considered underappreciated. Patterson shares were down 1% at $18.30. The consensus price target is $20.65. The 52-week trading range is $13.30 to $38.43.

Transocean Ltd. (NYSE: RIG) was initiated with an Underperform rating and price target of $16. Being negative on offshore drilling is somewhat of a consensus view for most analysts. However, the firm believes that the duration of the downturn is not fully reflected in the stock. Shares of Transocean were down over 2% at $17.88, compared with a consensus analyst price target of $17.52. Shares have traded in a range of $14.50 to $46.12 in the past year.

National Oilwell Varco Inc. (NYSE: NOV) was initiated with an Underperform rating and price target of $52. As the firm had previously stated, there is a dim outlook for offshore drilling, and this should look to continue for some time as analysts are unsure when the downturn will end. National Oilwell Varco shares were up 0.6% at $55.48. The consensus price target is $57.37, within the 52-week trading range of $49.25 to $86.55.

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