Oilfield Services Sector’s Gainers: OIS, IO, FTK, BHGE, and FTI



Oilfield services sector’s gainers

In this part, we’ll analyze the top percentage gainers from the oilfield services sector in the US for the week starting March 26, 2018. To compile the list of the top oilfield services gainers, we used oilfield services companies with market capitalization greater than $100 million and an average volume greater than 100,000 shares last week.

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Oil States International

In the week starting on March 26, 2018, Oil States International (OIS) is the top gainer from the oilfield services group. Oil States International increased from last week’s close of $25.50 to $26.60 on March 26—an increase of more than 4%. The company hasn’t released any news about the move in its stock this week.

All of the gains in Oil States International this week came in a single session on Monday. Oil States International increased ~4% on more than the 30-day average volume. Yesterday’s move in Oil States International helped the stock close above its 200-day moving average. As of March 26, Oil States International is trading at $26.60, while its 50-day and 200-day moving averages stand at $28.35 and $25.92, respectively.

Oil States International reported its 4Q17 earnings on February 15, 2018, after the market closed. In 4Q17, Oil States International reported revenues of ~$184 million—higher than analysts’ consensus of ~$175 million. However, Oil States International beat the EPS estimates by $0.08 in 4Q17. The company reported an adjusted loss of $0.15 per share. Analysts’ consensus was for a loss of $0.23 per share. Since Oil States International’s 4Q17 earnings, the company has fallen ~7%.

Other gainers

On the list of gainers this week, Oil States International is followed by ION Geophysical (IO), Flotek Industries (FTK), Baker Hughes (BHGE), and TechnipFMC (FTI). They have increased ~4.1%, ~2.7%, ~2.4%, and ~2.0%, respectively, this week.

On March 26, 2018, ION Geophysical announced the retirement of ~$29 million of debt ahead of the schedule. Commenting on the debt retirement, ION Geophysical’s President and CEO Brian Hanson, said, “De-levering our business has been a key priority for ION and I’m pleased with the progress we have made toward that goal.”

In general, there’s a positive sentiment about oilfield services stocks this week. The positive sentiment is evident in the VanEck Vectors Oil Services ETF’s (OIH) gain of ~0.8%. OIH represents an index of stocks from the oilfield services industry.


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