Alex Chamberlin

By adjusted EBITDA, the US Drilling segment saw the strongest growth of 130% in the second quarter—compared to the second quarter of 2017.

Halliburton’s (HAL) stock price correlation with crude oil on July 20–27 was 0.22—a moderately positive correlation.

Halliburton stock will likely close between $43.14 and $40.46 by August 3—based on its implied volatility.

In the week ending July 27, Schlumberger’s (SLB) correlation with crude oil was 0.48.

In the week ending July 27, Schlumberger (SLB) rose 1.4%.

Since April 24, when Weatherford’s Q1 2018 financial results were released, its stock has increased 26%.

Since April 26 when National Oilwell Varco released its Q1 2018 financial results, NOV stock has risen 10%.

From Q2 2017 to Q2 2018, National Oilwell Varco’s (NOV) Wellbore Technologies segment revenue rose 29.2%.

As of July 25, the day TechnipFMC released its Q2 2018 earnings, approximately 67% of Wall Street analysts tracking TechnipFMC rated it a “buy” or some equivalent.

On July 25, 2018, FTI’s stock price was down 10.9% compared to May 9 when its first-quarter financial results were released.

In the second quarter, TechnipFMC recorded total revenues of ~$2.96 billion, down 23% from ~$3.85 billion in Q2 2017.

TechnipFMC (FTI) released its second-quarter financial results on July 25 after the market closed. The company recorded operating revenues of $2.96 billion.

The C&P segment accounted for 68% of HAL’s Q2 revenues.

SLB’s Drilling group’s operating margin deflated to 13.0% in Q2 2018 from 14.0% in Q2 2017.

Halliburton (HAL) released its Q2 2018 financial results today. The company recorded total revenues of ~$6.15 billion in Q2 2018, up 24% from its ~$4.96 billion in Q2 2017.

From April 17 to July 17, the percentage of analysts recommending a “buy” or some equivalent for WFT has increased from 69.0% to 73.0%.

The correlation between Weatherford International’s (WFT) stock price and crude oil’s price from April 17 to July 16 was 0.03.

Short interest in Weatherford International (WFT) as a percentage of its float was 12.6% on July 17.

On July 17, Weatherford International’s (WFT) implied volatility was ~65.2%.

From Q1 2017 to Q1 2018, Weatherford International’s (WFT) EBITDA margin increased from 6.2% to 10.6%.

Weatherford International (WFT) plans to hold its Q2 earnings call on July 27. Analysts expect an adjusted loss of $0.18 per share for WFT.

As of January 19, the short interest in ION Geophysical (IO) as a percentage of its float was 8.9%—compared to 6.4% as of January 1.

ION Geophysical’s (IO) correlation with crude oil on April 19–July 19 was 0.30. The correlation represents a positive relationship.

Schlumberger (SLB) released its Q2 2018 results on July 20 with total revenue of $8.3 billion, up 11.3% from $7.46 billion in Q2 2017.

As of July 16, sell-side analysts’ mean target price for National Oilwell Varco was $37.7. Currently, National Oilwell Varco is trading at ~$43.9.

The correlation between National Oilwell Varco’s (NOV) stock price and crude oil prices on April 16–July 16 was 0.52.

The short interest in National Oilwell Varco (NOV) as a percentage of its float was 5.9% as of July 16.

Halliburton stock will likely close between $47.12 and $43.58 by July 20 based on its implied volatility. Halliburton’s stock price was $45.35 as of July 13.

Approximately 83% of Wall Street analysts tracking TETRA Technologies rated it as a “buy” or some equivalent as of July 12.

TETRA Technologies’ (TTI) correlation with crude oil on April 12–July 12 was 0.30. The correlation represents a positive relationship.

TETRA Technologies’ (TTI) one-year returns were 71% until July 12. Since July 13, 2017, the Energy Select Sector SPDR ETF (XLE) has increased 16.7%.

TechnipFMC will likely close between $34.17 and $29.53 by July 25 based on its implied volatility.

TechnipFMC’s (FTI) stock price correlation with crude oil from April 10, 2017, to July 10, 2018, was 0.11.

TechnipFMC’s (FTI) one-year returns were 15.5% as of July 10.

In the past year, crude oil has increased ~64%.

In Q2 2018, analysts expect TechnipFMC to post adjusted EPS of $0.38, a 37% increase compared to the Q1 2018 adjusted earnings of $0.28.

From April 23 to July 6, Halliburton’s implied volatility has increased from 25.0% to 28.0%.

Short interest in Halliburton (HAL) as a percentage of its float was 1.47% on July 6, compared to 3.23% on July 6, 2017.

In the first quarter, Halliburton’s revenues from North America increased 58.0% year-over-year.

Halliburton’s (HAL) management expects its upstream activities in North America to remain strong, supported by robust hydraulic fracturing activity.

Analysts expect Halliburton (HAL) to report adjusted EPS of $0.58 in Q2 2018, a 41% improvement from its Q1 2018 adjusted EPS of $0.41.

In the week ending July 6, Nabors Industries’ (NBR) correlation with crude oil was 0.26.

Nabors Industries’ (NBR) implied volatility was 51.3% as of July 6.

In the week ending July 6, Nabors Industries (NBR) fell 1.9%.

Weatherford International (WFT) stock’s correlation with crude oil was strong between June 29 and July 6, at 0.72.

The correlation coefficient between Baker Hughes’s (BHGE) stock price and crude oil price between April 5, 2017, and July 5, 2018, was 0.15.

From Q1 2017 to Q1 2018, the upstream companies constituting the Energy Select Sector SPDR ETF (XLE) boosted capex by 8%.

On a combined business basis, from Q1 2017 to Q1 2018, Baker Hughes’s (BHGE) Oilfield Services segment saw 12% higher revenues.

For Q2 2018, analysts expect Baker Hughes to post adjusted earnings per share of $0.14.

According to data compiled by Reuters, as of July 3, 74% of Wall Street analysts tracking Schlumberger rated it a “buy” or some equivalent.

Between April 20 and July 3, Schlumberger’s (SLB) implied volatility increased from 24% to 25%.

As of the week ended June 29, the US rig count was 1,047, up 5% compared to the week ended March 30.

In the second quarter of 2018, analysts expect Schlumberger (SLB) to report $0.43 adjusted EPS, a 13% sequential increase.

From April 20 to June 29, Schlumberger’s implied volatility has remained nearly unchanged at ~24.0%.

In the week ended June 29, Schlumberger (SLB) stock rose 0.7%. The Energy Select Sector SPDR ETF (XLE) rose 1.1% during the week.

Approximately 50% of the Wall Street analysts tracking Superior Energy Services rated it as a “buy” or some equivalent as of June 28.

As of June 28, the short interest in Superior Energy Services (SPN) as a percentage of its float was 7.9%—compared to 15.4% as of June 28, 2017.

Superior Energy Services’ (SPN) correlation with crude oil’s price on March 28–June 28 was 0.62—a strong positive relationship.

Approximately 6% of the Wall Street analysts tracking Oil States International recommended a “sell” or some equivalent as of June 25.

The short interest in Tenaris S.A. (TS) as a percentage of its float was 0.76% as of June 25—compared to 1.5% as of January 1.

Approximately 5% of the analysts tracking Oceaneering International recommended a “sell” or some equivalent as of June 25.

On March 25–June 25, the percentage of analysts recommending a “sell” or some equivalent for Tenaris increased from 5% to 6%.

Approximately 10% of the analysts tracking National Oilwell Varco have recommended a “sell” or some equivalent as of June 25.

According to Wall Street analysts’ ratings, National Oilwell Varco (NOV) has the highest “sell” recommendations in the OFS industry.

As of June 22, short interest in Weatherford International (WFT) as a percentage of its float was 14.1%, compared to 15.2% as of June 22, 2017.

As of June 22, Weatherford International’s (WFT) implied volatility was 58.9%. Since April 24, when Weatherford International’s first-quarter financial results were released, its implied volatility has decreased from 63%.

OII’s correlation with crude oil’s price from March 21 to June 21 represented a positive relationship between OII and crude oil.

On June 21, Oceaneering International’s (OII) implied volatility was 40.5%.

Oceaneering International’s (OII) YoY (year-over-year) return was 9.2% on June 21. How did industry ETFs compare?

Approximately 74% of the analysts tracking Schlumberger recommended a “buy” or some equivalent as of June 19.

On March 19–June 19, the percentage of analysts recommending a “buy” or some equivalent for Patterson-UTI Energy has increased from 76% to 78%.

Helix Energy Solutions Group (HLX) has the second-highest “buy” ratings assigned by sell-side analysts in the OFS industry.

According to Wall Street analysts’ ratings, Halliburton (HAL) has the highest “buy” or some equivalent rating in the OFS industry.

Schlumberger’s (SLB) first-quarter financial results were released on April 20. Between April 20 and June 15, Schlumberger’s implied volatility fell from 24.1% to 22%.

As of June 13, 2018, short interest in CARBO Ceramics (CRR) as a percentage of its float was 45.8% compared to 41.1% as of June 13, 2017.

On June 13, the West Texas Intermediate (or WTI) crude oil price was ~49% higher than it was a year ago.

McDermott International (MDR), which sell-side analysts expect to achieve the highest revenue growth in Q2, has produced 3.6% YTD returns as of June 12.

Helix Energy Solutions Group’s (HLX) revenues increased 57% YoY (year-over-year).

Oil States International (OIS) ranks fourth on our list of the top five revenue growing OFS companies, according to analysts.

Carbo Ceramics (CRR) comes in third in the ranking of our top five revenue growth companies in the OFS industry.

In this series, we’ll rank and analyze the top five OFS companies that are expected to generate the highest revenue growth in Q2 2018.

Halliburton’s forward EV-to-EBITDA multiple compared to its adjusted TTM EV-to-EBITDA is lower than the peer average in our group.

From June 8, 2017, to June 7, 2018, Halliburton (HAL) stock has risen 11%. The price of WTI crude oil has risen 45% in the same period.

Halliburton’s (HAL) implied volatility was 23.9% on June 8.

In the week ending June 8, Schlumberger (SLB) rose 0.7%. In comparison, XLE, which tracks an index of US energy companies, also rose 0.7%.

Jeff Miller, Halliburton’s (HAL) CEO, considers North America one of HAL’s key growth engines in 2018.

On June 5, Haliburton (HAL) was trading at $47.87, which was 4% higher than a year ago. In this series, we’ll see what’s driving it.

In this article, we’ll look at Wall Street’s targets for the OFS stocks that had the highest net debt-to-equity ratios in the first quarter.

Short interest in Schlumberger (SLB) as a percentage of its float was 1.5% on June 1, 2018, compared to 1.8% on June 1, 2017.

From June 1, 2017, to June 1, 2018, Key Energy Services (KEG) produced an -11% return.

On March 31, 2018, Schlumberger’s (SLB) net debt was $13.9 billion, 20% higher than its net debt of $11.6 billion on March 31, 2017.

On March 31, 2018, Halliburton’s (HAL) net debt was $8.57 billion, 3% lower than its net debt of $8.88 billion on March 31, 2017.

In this series, we’ll analyze the five oilfield equipment and services companies with the highest net debt-to-equity ratios in Q1 2018.

On May 25, ~75.0% of the Wall Street analysts tracking Schlumberger rated it as a “buy” or some equivalent.

Since May 26, 2017, short interest in SLB has increased 1.4%.

On March 29, Schlumberger’s (SLB) stock price was 4.0% lower than on December 29, 2017.

In this part of our series, we’ll look at Wall Street analysts’ forecasts for Keane Group (FRAC) as of May 25.

As of May 25, 2018, short interest in Keane Group (FRAC) as a percentage of its float was 13.4%, compared to 32.5% as of May 25, 2017.

On May 25, Keane Group’s (FRAC) implied volatility was 40.1%. On May 2, Keane Group’s first-quarter financial results came out.

Keane Group’s (FRAC) one-year returns were -7.7% as of May 25. In comparison, since May 26, 2017, the Energy Select Sector SPDR ETF (XLE) increased 12.0%.