uploads///Energy MWU_ OFS Gainers

Oilfield Services Gainers: FTK, FTI, DRQ, RES, and NOV

Nicholas Chapman - Author

Nov. 30 2017, Published 7:37 a.m. ET

Oilfield services gainers

In this part, we’ll analyze the top percentage gainers from the oilfield services sector in the United States for the current week starting November 27, 2017. To compile the list of top oilfield services gainers, we have used the oilfield services companies with market capitalizations greater than $100 million and last week’s average volumes greater than 100,000 shares.

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Flotek Industries gaining the most in the current week

In the week starting November 27, 2017, Flotek Industries (FTK) is at the top of the list of gainers from the oilfield services group. It has risen from last week’s close of $4.59 to $4.72 on November 28, 2017, an increase of ~3%. There is no news release by the company this week.

Flotek Industries is in a strong declining trend in 2017 and made a new 52-week low of $4.14 in the second week of November after its 3Q17 earnings were released on November 8, 2017. In 3Q17, Flotek Industries reported revenues of ~$79 million, which was lower than the Wall Street analyst consensus of ~$86 million. It even missed the EPS (earnings per share) estimate by $0.08. It reported an adjusted loss of $0.06 per share, whereas the Wall Street analyst consensus was for a profit of $0.02 per share. Since its 3Q17 earnings, Flotek Industries has fallen ~7%. Year-to-date, FTK has fallen ~50%.

Moving up: FTI, DRQ, RES, NOV

In the list of gainers for the current week. Flotek Industries (FTK) is followed by TechnipFMC (FTI), Dril-Quip (DRQ), RPC (RES), and National Oilwell Varco (NOV). FTI, DRQ, RES, and NOV have risen 2.2%, 1.8%, 1.7%, and 0.88%, respectively, so far this week.

In general, there is negative sentiment about the oilfield services stocks this week. That’s evident in the fall of 0.87% by the VanEck Vectors Oil Services ETF (OIH), which represents an index of stocks from the oilfield services industry.

In comparison, the SPDR Dow Jones Industrial Average ETF (DIA) has risen 1.2% this week.


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