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The Oilfield Equipment and Services Industry: A Primer

PART:
1 2 3 4 5 6 7 8 9 10 11 12 13 14
Part 14
The Oilfield Equipment and Services Industry: A Primer PART 14 OF 14

Analyzing the Long-Term Stock Price Returns of OFS Companies

Stock price returns for SLB, HAL, BHI, and NOV

From November 2009 to November 2016, Schlumberger’s (SLB) stock price was at its highest in June 2014. Since then, it has fallen 28%. Between November 2009 and November 2016, Halliburton’s (HAL) stock price was at its highest in July 2014. Since then, it has fallen 31%.

In the past seven years, Baker Hughes’s (BHI) stock price was at its highest in July 2011. It reached a similar high in July 2014. Since then, its stock price has fallen 19%. In the past seven years, National Oilwell Varco’s (NOV) stock price was at its highest in August 2014. Since then, its stock price has fallen 56%.

Analyzing the Long-Term Stock Price Returns of OFS Companies

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OFS stocks versus the market

From November 2009 to November 2016, the VanEck Vectors Oil Services ETF (OIH) was at its highest in late June 2014. Since then, OIH has fallen 45%. OIH tracks an index of 25 OFS companies.

The SPDR S&P 500 ETF (SPY) has risen 127% from November 2009 to November 2016.

Why OFS stock prices moved

In the past seven years, while National Oilwell Varco has performed in line with the industry, Schlumberger and Baker Hughes have hugely outperformed it. Many OFS stocks reached their highs in mid-2014, then started to fall, following crude oil’s price movements. Crude oil’s price was also at its highest in June 2014, after which it pulled back.

In 2016, as crude oil prices recovered, so did most OFS stocks. We discussed in the previous parts of this series why their responses have been varied, analyzing their business models and financial strengths.

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