24 Nov

The Fourth-Worst-Performing Oilfield Stock Year-to-Date

WRITTEN BY Alex Chamberlin

TESO’s YTD returns versus the industry

Tesco Corporation’s (TESO) year-to-date returns were -52% as of November 20. Since December 30, 2016, TESO has significantly underperformed the US rig count, the S&P 500 Index (SPX-INDEX), and the SPDR S&P 500 ETF (SPY). During this period, it also outperformed the Energy Select Sector SPDR ETF (XLE) and the VanEck Vectors Oil Services ETF (OIH).

TESO’s stock price has been weak in the past month. Since October 20, TESO has fallen 12%. It underperformed OIH and SPY.

On August 14, Nabors Industries (NBR) disclosed that it had signed an agreement to acquire Tesco. Read more in Market Realist’s Can Nabors Bank on Synergies from Tesco?The Fourth-Worst-Performing Oilfield Stock Year-to-Date

How did TESO’s revenues and earnings perform in 9M17?

From 4Q16 through 3Q17, TESO’s revenues rose 15%. It continued to record a net loss from 4Q16 through 3Q17. TESO’s free cash flows also deteriorated in 3Q17. TESO is a zero-debt company, so its net debt was negative in 3Q17. TESO’s cash and marketable securities balance fell in 3Q17 from 4Q16.

Next, we’ll compare year-to-date returns from Flotek Industries (FTK) with market indicators and analyze its fundamental metrics.

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