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What Happened in the Energy Sector Last Week?

PART:
1 2 3 4 5 6
Part 4
What Happened in the Energy Sector Last Week? PART 4 OF 6

Who Were the Biggest Oilfield Services Gainers Last Week?

Oilfield services gainers

In this part, we’ll analyze the top weekly percentage gainers from the oilfield services sector in the US for the week ending September 8, 2017. For our analysis, we have used the oilfield services companies with market capitalizations of greater than $100 million and volumes greater than 100,000 shares last week.

Who Were the Biggest Oilfield Services Gainers Last Week?

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Carbo Ceramics rose the most last week

In the week ending September 8, 2017, Carbo Ceramics (CRR) was at the top of the list of gainers from the oilfield services group. CRR rose from $6.35 to $6.96, an increase of almost 10%. There wasn’t any specific news that moved the stock. However, CRR saw a strong rise on the first three days of the week, which helped it to close the week on a stronger note.

Last week, CRR moved above its 50-day moving average for the first time since July 2017. However, CRR is still trading below its 200-day moving average. On September 8, CRR’s 200-day and 50-day moving averages stood at $9.39 and $6.78, respectively. This also means CRR’s 50-day moving average stood below its 200-day moving average, which is technically a bearish sign for the stock.

Drill-Quip: No material impact from Hurricane Harvey

On the list of gainers from last week, Carbo Ceramic (CRR) was followed by Superior Energy Services (SPN), Drill-Quip (DRQ), Oceaneering International (OII), and RPC (RES). These stocks rose 8.5%, 6.5%, 5.7%, and 5.1%, respectively. DRQ announced on September 5, 2017, that its manufacturing facilities didn’t see any material damage due to Hurricane Harvey. RES will go ex-dividend this week on September 11, 2017. It will pay a dividend of $0.06 per share to shareholders of record as of August 10, 2017.

In general, there was positive sentiment about the oilfield services stocks last week, which was evident in the decent 2.3% rise of the VanEck Vectors Oil Services ETF (OIH). In comparison, the SPDR S&P 500 ETF (SPY) fell by half a percentage point last week.

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