8 Nov

Archrock: The Only Falling Stock in the Oilfield Services Industry

WRITTEN BY Nicholas Chapman

Oilfield services losers

Having looked at the percentage gainers this week, we’ll now move on to the percentage losers from the oilfield services (or OFS) sector in the United States so far this week. To compile the list of top oilfield services losers, we used the oilfield services companies with market capitalizations greater than $100 million and average volume last week greater than 100,000 shares.

Archrock: The Only Falling Stock in the Oilfield Services Industry

Archrock: The only losing stock

So far this week, Archrock (AROC) is the only declining stock from the oilfield services sector. AROC has suffered a decline from $10.85 to $10.70—a decrease of ~1%.

On Thursday, AROC fell ~4% due to worse-than-expected 3Q17 earnings, and it traded with a negative bias throughout the day to close the post-earnings day with a loss of ~7%. The post-earnings negative bias is still running high on AROC’s stock price, which is evident in the decline of almost 10% in the last four trading sessions.

AROC reported poor earnings. It not only missed Wall Street’s revenue estimates but also missed EPS estimates. In 3Q17, Archrock reported revenues of ~$198 million—worse than the Wall Street analyst consensus of ~$202 million. AROC missed EPS estimates by $0.07 in 3Q17. It reported an adjusted loss of $0.09 per share, whereas Wall Street analyst consensus was for a loss of $0.02 per share.

In general, there’s positive sentiment about oilfield services stocks this week. This optimism is evident in the gain of 4.50% in the SPDR S&P Oil & Gas Equipment & Services ETF (XES). In comparison, the SPDR S&P500 ETF (SPY) is up 0.09% this week.

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