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Wall Street Analysts’ Targets for SLB, HAL, NOV, and BHGE

Alex Chamberlin - Author
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Aug. 18 2020, Updated 5:16 a.m. ET

Analysts’ recommendations

In this part, we’ll look at Wall Street analysts’ targets for our select OFS (oilfield equipment and services) stocks. Analysts expect three of the four companies to deliver positive returns over the next 12 months.

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Halliburton has the most “buy” recommendations

Approximately 89% of the Wall Street analysts tracking Halliburton (HAL) have recommended a “buy” or some equivalent as of January 11, 2018. Approximately 8% recommend a “hold” and the rest recommended a “sell” or some equivalent. Analysts’ consensus target price for Halliburton was ~$54 on January 11. Halliburton is trading near $53.3. It implies 1% returns in the the next 12 months. Halliburton is one of the sell-side analysts’ top picks in the OFS industry.

Schlumberger and Baker Hughes

Approximately 73% of the analysts tracking Schlumberger (SLB) have recommended a “buy” or some equivalent as of January 11, 2018. Approximately 27% recommended a “hold” and none of the sell-side analysts recommended a “sell.” Analysts’ consensus target price for Schlumberger was $75.5 on January 11. Schlumberger is trading at $77, which implies -2% returns in the next 12 months.

Approximately 39% of the analysts tracking Baker Hughes, a GE company (BHGE), have recommended a “buy” or some equivalent on January 11, 2018. Approximately 55% recommend a “hold” and the rest recommended a “sell.” Analysts’ consensus target price for Baker Hughes was $37.7 as of January 11. Baker Hughes is trading near $36.5, which implies ~3% returns in the next 12 months.

What analysts say about National Oilwell Varco

Only 24% of the analysts tracking National Oilwell Varco (NOV) have recommended a “buy” or some equivalent, while ~68% have recommended a “hold” on January 11, 2018. Approximately 9% of the analysts have rated National Oilwell Varco as a “sell.” Analysts’ consensus target price for National Oilwell Varco was near $34.6 on January 11. National Oilwell Varco is trading near $38.8, which implies ~11% downside in the next 12 months. National Oilwell Varco accounts for 5.7% of the iShares US Oil Equipment & Services (IEZ). IEZ declined 18% in the past year—compared to a 2% fall in National Oil Varco’s stock price. During the same period, the S&P 500 Index (SPX-INDEX) increased 21%.

To learn more about the OFS industry, read The Oilfield Equipment and Services Industry: A Primer and Wall Street’s OFS Picks: 4Q17 Top and Bottom Earnings Stocks.

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