Oilfield Services Gainers
In this part, we’ll analyze the top percentage gainers from the oilfield services sector in the US for the current week starting January 29, 2018. To compile the list of top oilfield services gainers, we only used the oilfield services companies with market capitalization of greater than $100 million and last week’s average volume greater than 100,000 shares.
Oil States International
In the week starting January 29, 2018, Oil States International (OIS) is the only gainer from the oilfield services group. Oil States International increased to $32.80 from last week’s close of $32.60 on January 26—a modest increase of more than half a percentage point.
As of January 30, 2018, Oil States International is trading at $32.80, while its 50-day and 200-day moving averages stand at $27.81 and $26.49, respectively.
On January 30, 2018, Oil States International announced the amendment and extension of its senior secured revolving credit facility. Under the amended credit agreement, Oil States International will have access to a $350-million credit facility, which can be increased up to an incremental $150 million. The amended credit agreement has a maturity date of January 30, 2020.
In general, there’s a strong negative sentiment about oilfield services stocks this week. The negative sentiment is evident by the VanEck Vectors Oil Services ETF’s (OIH) decrease of almost 4%. OIH represents an index of stocks from the oilfield services industry.
In comparison, the SPDR Dow Jones Industrial Average ETF (DIA) has fallen ~2.0% in the current week.