Oilfield service losers
Previously, we discussed this week’s top gainers in the US oilfield service sector. In this part, we’ll look at the stocks that have lost the most. We’ll focus on oilfield service companies with a market capitalization greater than $100 million and an average volume greater than 100,000 shares.
This week, Weatherford International (WFT) has fallen the most in the oilfield service sector, by 3.3% from $3.64 to $3.52. On May 7, Weatherford announced a memorandum of understanding with Valiant Artificial Lift Solutions to jointly commercialize electrical submersible pumps.
After falling more than 50% earlier this year, WFT started climbing on April 5 and has risen ~70% since then. Currently, WFT is trading above its 50-day and 200-day moving averages of $3.10 and $3.43, respectively.
In the list of weakest oilfield service stocks this week, Weatherford International is followed by Core Laboratories (CLB), Oil States International (OIS), Schlumberger (SLB), and Baker Hughes (BHGE), which have fallen ~2.2%, ~2.2%, ~2.1%, and ~1.8%, respectively. Meanwhile, the SPDR S&P Oil & Gas Equipment & Services ETF (XES) has risen ~1.4% this week.