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Keane Group’s IPO: Is the Timing Right?

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Part 6
Keane Group’s IPO: Is the Timing Right? PART 6 OF 6

Wall Street Forecasts for Recently Listed Oilfield Service Stocks

Wall Street forecasts for oilfield service stocks

In this article, we’ll look at Wall Street analysts’ forecasts for some of the more recently listed oilfield equipment and service (or OFS) companies.Wall Street Forecasts for Recently Listed Oilfield Service Stocks

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Consensus rating for CCLP and FI

On January 27, approximately 25% of analysts tracking CSI Compressco LP (CCLP) rated it a “buy” or some equivalent. Approximately 63% rated the company a “hold,” and 12% of analysts recommended a “sell” or an equivalent.

By comparison, approximately 16% of analysts tracking Frank’s International (FI) rated it a “buy” or some equivalent. Approximately 58% rated the company a “hold,” and 26% of analysts recommended a “sell” or an equivalent. FI is 1.6% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES).

Consensus rating for KEG and TUSK

Approximately 50% of analysts tracking Key Energy Services (KEG) rated it a “buy” or some equivalent. The remaining 50% rated the company a “hold.” By comparison, approximately 88% of analysts tracking Mammoth Energy Services (TUSK) rated it a “buy” or some equivalent. Approximately 12% rated the company a “hold.”

Negative potential returns—CCLP and FI

Wall Street analysts’ mean target price for CCLP on January 27 was $10.4. CCLP is currently trading at ~$12.7, implying ~18% downside for the next year at its current consensus mean price. Analysts’ mean target price for FI on January 27 was $11.9. FI is currently trading at ~$12.5, implying ~5% downside for the next year at its current consensus mean price.

Positive potential returns—KEG and TUSK

Wall Street analysts’ mean target price for KEG on January 27 was $38.1. KEG is currently trading at ~$33.8, implying ~13% upside for the next year at its current consensus mean price. Analysts’ mean target price for TUSK on January 27 was $19.5. FI is currently trading at ~$18.1, implying ~7% upside for the next year at its current consensus mean price.

Learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.

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