BUZZ-UK Oil Cos: Jefferies reshuffles ratings
** Jefferies updates ratings on oil cos, seeing value in the beaten-down sector
** Tullow Oil (LSE: TLW.L - news) up 3.1 pct, second-largest large-cap gainer in Europe as Jefferies upgrades rating to "hold"
** Analysts upgrade stock, which is down 49 pct YTD, as it now trades near Jefferies' revised PT of 191p (its Thursday close was 192.4p)
** Jefferies cut PT on Premier Oil (LSE: PMO.L - news) -- to 116p from 180p -- but reiterate "buy"; shares in co up 1.2 pct
** Tullow, Premier (NasdaqGS: PINC - news) also recovering from Thursday falls, which trader calls overdone
** Ophir down 1.1 pct as Jefferies cuts to "hold" from "buy"
** BP, Cairn, BG up 0.1-0.7 pct
** Energy sector one of two in positive territory on the FTSE 350 Index (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)