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Which Oilfield Service Stocks Look Attractive in 4Q17?

PART:
1 2 3 4 5 6 7
Part 7
Which Oilfield Service Stocks Look Attractive in 4Q17? PART 7 OF 7

What Wall Street Analysts Estimate for SLB, HAL, NOV, and BHGE

Analysts’ recommendations

In this article, we will look at Wall Street analysts’ targets for our select oilfield equipment and services (or OFS) stocks. Analysts expect all three of the four companies to deliver positive returns over the next 12 months.What Wall Street Analysts Estimate for SLB, HAL, NOV, and BHGE

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Halliburton has the highest “buy” recommendations

Approximately, 90% of the Wall Street analysts tracking Halliburton (HAL) have recommended a “buy” or equivalent. Approximately ~8% recommend a “hold,” and the rest recommended a “sell” or an equivalent. Analysts’ consensus target price for HAL was ~$53 on November 6. HAL is currently trading near $45, which implies 17.6% returns over the next 12 months. Halliburton is one of the sell-side analysts’ top picks in the OFS industry.

Recommendations for SLB and BHGE

Approximately 70% of analysts tracking Schlumberger (SLB) have recommended a “buy” or equivalent. Approximately 30% recommended a “hold,” and none of the sell-side analysts recommended a “sell.” Analysts’ consensus target price for SLB was ~$75 on November 6. SLB is currently trading at $67, which implies ~12% returns over the next 12 months.

~37.5% of the analysts tracking Baker Hughes (BHGE) have recommended a “buy” or equivalent, ~56% have recommended a “hold,” and the rest recommended a “sell.” Analysts’ consensus target price for BHGE was $38.3 on November 6. BHGE is currently trading near $33.9, which implies ~13% returns over the next 12 months.

What analysts say about NOV

Only 23.5% of analysts tracking National Oilwell Varco (NOV) recommended a “buy” or equivalent and ~65% have recommended a “hold.” Approximately 12% of the analysts have rated NOV a “sell.” Analysts’ consensus target price for NOV was near $34 on November 6. NOV is currently trading near $35.5, which implies ~4% downside over the next 12 months. NOV makes up 6.5% of the iShares US Oil Equipment & Services (IEZ). IEZ fell 8% in the past year compared to a 10% rise in NOV’s stock price during the same period. In the same period, the S&P 500 Index (SPX-INDEX) rose 22%.

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

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