CARBO Ceramics: Top Loser in the Oilfield Services Industry



Oilfield services losers

In this part, we’ll discuss the percentage losers from the oilfield services sector in the US. To compile the list of top oilfield services losers, we only used the oilfield services companies with a market capitalization of greater than $100 million and last week’s average volume greater than 100,000 shares.

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CARBO Ceramics

In the current week starting January 29, 2018, CARBO Ceramics (CRR) is the top declining stock from the oilfield services sector. In the current week, CARBO Ceramics suffered a decline from $9.33 to $7.91—a decrease of ~15%. The decline in CARBO Ceramics is part of its post-earnings reaction. CARBO Ceramics has been in a continuous decline since it announced its 4Q17 earnings on January 25, 2018.

In 4Q17, CARBO Ceramics reported revenues of ~$60 million—higher than Wall Street analysts’ consensus of ~$57 million. CARBO Ceramics beat the EPS estimates by $0.06 in 4Q17. CARBO Ceramics reported an adjusted loss of $0.64 per share, while analysts’ consensus was for a loss of $0.70 per share. Since its 4Q17 earnings were announced, CARBO Ceramics has decreased ~32% in four trading sessions.

After CARBO Ceramics, the other losers from the oilfield services sector are Flotek Industries (FTK), Archrock (AROC), Weatherford International (WFT), and Superior Energy Services (SPN), which have fallen ~11.5%, ~9.0%, ~6.7%, and ~5.2% in the current week.

On January 18, 2018, Archrock announced a dividend of $0.12 per share on its common stock. The dividend is payable on February 14, 2018, to stockholders of record as of February 8, 2018.

In general, there’s a strong negative sentiment about oilfield services stocks this week. The negative sentiment is evident in the SPDR S&P Oil & Gas Equipment & Services ETF’s (XES) loss of ~3.8%. XES represents an index of stocks from the oilfield services industry. In comparison, the SPDR S&P500 ETF (SPY) has fallen ~1.7% in the current week.


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