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Analysts’ Target Prices for the Best-Performing OFS Stocks

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Nov. 20 2020, Updated 4:25 p.m. ET

Analysts’ recommendations

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Newpark Resources has the highest “buy” recommendations

Approximately 78% of the Wall Street analysts tracking Newpark Resources (NR) recommended a “buy” or some equivalent on November 20, 2017. Approximately 22% recommended a “hold” and none of the analysts recommended a “sell” or some equivalent. Analysts’ consensus target price for Newpark Resources was ~$10.7 on November 20. Currently, Newpark Resources is trading near $8.9. It implies 21% returns in the next 12 months at the current price.

Recommendations for other stocks

All of the Wall Street analysts tracking ION Geophysical (IO) recommended a “hold” on November 20, 2017. None of the sell-side analysts tracking ION Geophysical recommended a “buy” or a “sell.” Analysts’ consensus target price for ION Geophysical was ~$13 on November 20. Currently, it’s trading at $13.2, which implies ~1% negative returns in the next 12 months at the current price.

Approximately 38.5% of the analysts tracking RPC (RES) recommended a “buy” or some equivalent. Approximately 58% recommend a “hold,” while the rest recommended a “sell.” Analysts’ consensus target price for RPC was ~$25 on November 20. Currently, it’s trading near $23.2, which implies ~7% returns over the next 12 months at the current price.

Approximately 50% of the analysts tracking McDermott International (MDR) have recommended a “buy” or some equivalent. Approximately 43% recommended a “hold,” while the rest recommended a “sell.” Analysts’ consensus target price for McDermott International was ~$8.4 on November 20. Currently, it’s trading near $7.3, which implies ~16% returns in the next 12 months at the current price.

Only ~14% of the sell-side analysts tracking CARBO Ceramics (CRR) recommended a “buy” or some equivalent, while ~78% recommended a “hold.” Approximately 11% of the analysts recommended a “sell.” Analysts’ consensus target price for CARBO Ceramics was near $8.9 on November 20. Currently, CARBO Ceramics is trading near $10, which implies ~12% downside in the next 12 months at the current price. CARBO Ceramics accounts for 0.02% of the Vanguard Energy ETF (VDE). VDE has fallen 12% since December 30, 2016—compared to a 3.4% fall in CARBO Ceramics’ stock price during the same period.

Read The Oilfield Equipment and Services Industry: A Primer and Which Oilfield Service Stocks Look Attractive in 4Q17? to learn more about the OFS industry.

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