Core Laboratories NV

On April 16, McDermott International announced that it will release its first-quarter earnings results on April 29.

Greenlight Capital (GLRE) exited its position in Apple in the third quarter of 2018.

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.

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

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.

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.

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.

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.

Baker Hughes, a GE company (BHGE), published its US crude oil rig count report on July 6, indicating that the US crude oil rig count rose by five last week to 863, its highest level since March 2015.

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

During the week ended July 6, US crude oil August futures and natural gas August futures fell 0.5% and 2.3%, respectively.

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.

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

In Q1 2018, ten hedge funds either created new positions or added to their positions in Tellurian (TELL).

Reuters estimates that Saudi Arabia’s crude oil production increased by 700,000 bpd to 10,700,000 bpd in June—compared to the previous month.

On July 2, a Reuters survey showed that OPEC’s crude oil production increased by 320,000 bpd (barrels per day) to 32,320,000 bpd in June.

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

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%.

This week, Weatherford International (WFT) has fallen the most in the oilfield service sector, by 3.3% from $3.64 to $3.52.

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.

Between January 1 and May 23, NOW’s (DNOW) correlation with crude oil was 0.38.

In April, Schlumberger (SLB) announced a quarterly dividend of $0.50 per share to be paid in July. Schlumberger’s (SLB) quarterly dividend per share remained unchanged from Q1 2017 to Q1 2018.

Schlumberger Limited (SLB) is the largest US oilfield equipment and service (or OFS) company. Its stock price has risen in the past year.

Short interest in Schlumberger (SLB) as a percentage of its float was 1.7% on March 20, 2018, compared to 1.2% on March 20, 2017.

On February 23, 2018, Schlumberger was trading at $66.50, which is ~17% lower than its price a year ago.

Here, we’ll discuss Wall Street analysts’ forecasts for Flotek Industries (FTK) following its 4Q17 earnings release.

On February 15, 2018, approximately 92% of the Wall Street analysts tracking Halliburton rated it a “buy” or some equivalent.

In this article, we’ll take a look at Wall Street analysts’ forecasts for National Oilwell Varco (NOV) shares following its 4Q17 earnings release.

On January 22, the day Halliburton released its 4Q17 earnings, ~92% of the analysts tracking Halliburton rated it as a “buy” or some equivalent.

Approximately 71% of the analysts tracking Schlumberger rated it as a “buy” or some equivalent on January 19, 2018.

From December 29, 2017, to January 5, 2018, Weatherford International’s (WFT) correlation with the West Texas Intermediate crude oil price was -0.13.

Crude oil prices have risen significantly since the end of June 2017. Analysts don’t expect much impending downside in crude oil prices.

On November 22, 2017, Schlumberger’s dividend yield increased to ~3.2% due to an 11% stock price fall on September 29–November 22.

Schlumberger (SLB) is the largest company by market capitalization among our set of select oilfield services and equipment (or OFS) companies.

On October 31, approximately 48% of analysts tracking Superior Energy Services rated it as a “buy” or some equivalent.

On October 20, 2017, ~39% of the sell-side analysts surveyed by Reuters that track Baker Hughes rated it as a “buy” or some equivalent.

The correlation coefficient between Weatherford International’s (WFT) stock price and WTI crude oil prices on October 13–20, 2017, was -0.05.

On October 16, 2017, all analysts tracking Flotek Industries rated it as a “buy” or some equivalent.

In 3Q17, analysts expect Flotek Industries (FTK) to report adjusted earnings per share of $0.02. Wall Street expects FTK’s revenues to rise 1% over 2Q17 to $86.2 million.

Crude oil’s price correlation coefficient with Halliburton’s stock price on October 6–13, 2017, was 0.33. There was a weak correlation in the past week.

Short interest in Nabors Industries (NBR) as a percentage of its float was 10.4% on October 12, 2017, compared to 12.2% on June 30, 2017.

On October 10, 2017, ~74% of the Wall Street analysts tracking Weatherford International rated it as a “buy” or some equivalent.

In 3Q17, analysts expect an $0.18 adjusted loss per share for Patterson-UTI Energy (PTEN), which means Wall Street analysts expect PTEN to cut its losses from the 2Q17 adjusted loss of $0.21 per share.

Weatherford’s low correlation with crude oil might not help its stock price much even if crude oil’s current upward momentum continues.

Having looked at the percentage gainers this week, we’ll now move on to the percentage losers from the oilfield services (or OFS) sector in the United States from September 25 to 27.

Core Laboratories recorded a 7.0% rise in revenue for the first half of 2017. The growth was driven by production enhancement, offset by reservoir description.

In this article, we’ll look Wall Street’s call and target price for Weatherford International (WFT) on September 12.

National Oilwell’s valuation, expressed as the TTM PE (price-to-earnings) multiple, isn’t available due to its negative adjusted earnings.

Upstream operators’ capex cut Between 2Q16 and 2Q17, 19 of the largest US energy exploration and production companies, in aggregate, slashed their capex by 8%. In general, lower upstream capex results in lower revenue and narrower operating margins for oilfield services and equipment companies. National Oilwell Varco’s earnings margin As shown in the graph above, National Oilwell […]

The correlation coefficient between the price of crude oil and Halliburton (HAL) stock from September 5, 2016, to September 5, 2017, is 0.65.

In this series, we’ll discuss Schlumberger’s (SLB) relative valuation multiples and other market indicators.

Short interest in Nabors Industries (NBR) as a percentage of its float was 7.4% on September 1, 2017, which was a significant fall compared to June 30, 2017.

On August 10, 2017, all of the sell-side analysts tracking Flotek Industries rated it as a “buy.” None of the analysts rated Flotek as a “hold” or “sell.”

Sell-side analysts expect Flotek’s adjusted EBITDA to rise sharper in the next four quarters compared to its peers.

On June 30, 2017, Flotek’s stock price fell 5%—compared to its stock price on December 30, 2016. In 2Q17, Flotek’s adjusted earnings were extremely low.

From 2Q16 to 2Q17, Flotek Industries’ (FTK) EBITDA margin (or EBITDA as a percentage of revenues) improved to 2.3% from 0.7%.

Weatherford International (WFT) stock and crude oil prices have had a steady positive correlation in the past year.

In this article, we’ll look at Wall Street analysts’ forecasts for Patterson-UTI Energy (PTEN) stock following its 2Q17 earnings release.

In 2Q17, analysts expect Nabors Industries (NBR) to post adjusted loss of $0.35 per share.

For 2Q17, analysts expect Patterson-UTI Energy (PTEN) to report an adjusted loss per share of $0.30. This would mean a cut in its losses from 1Q17.

On July 11, 2017, approximately 20% of analysts tracking National Oilwell Varco rated it a “buy” or some equivalent.

Short interest in National Oilwell Varco (NOV) as a percentage of its float was 6.8% as of July 11, 2017, which was unchanged compared to March 31, 2017.

In 2Q17, Standard & Poor’s downgraded ExxonMobil’s (XOM) outlook from “stable” to “negative.”

There has been a steady positive relationship between Weatherford International’s (WFT) stock and crude oil prices since July 2016.

According to Reuters, on June 30, 2017, all of the sell-side analysts tracking Flotek Industries (FTK) have rated the stock a “buy” or some equivalent.

Sell-side analysts expect FTK’s adjusted EBITDA to rise more sharply over the next four quarters than those of its peers.

The correlation coefficient between crude oil’s price and Schlumberger’s (SLB) stock price from June 2016 to June 2017 is 0.64.

On June 12, 92% of the analysts tracking Halliburton rated it as a “buy,” ~3% of the analysts rated it as a “sell,” and the other 5% rated it as a “hold.”

National Oilwell Varco’s (NOV) correlation with crude oil prices from June 9, 2016, to June 9, 2017, is 0.61.

WFT makes up 0.33% of the iShares U.S. Energy ETF (IYE). On June 7, IYE had fallen 8% lower compared to its price on March 31.

Some of the major US upstream and integrated companies have gradually reduced their capex following crude oil’s sharp price fall since mid-2014.

Schlumberger’s EBITDA margin was impacted negatively as upstream companies slashed their budgets. From 1Q16 to 1Q17, Schlumberger’s EBITDA margin fell.

At the 2017 Sohn Investment Conference on Monday, May 8, 2017, Einhorn said he is short on oil and gas servicing company Core Laboratories (CLB).

Basic Energy Services’ debt-to-equity (or leverage) multiple is lower than the peer average.

In the past couple of years, some major US upstream and integrated companies have reduced their capital expenditures (capex) following crude oil price’s sharp fall.

The correlation coefficient between Halliburton’s stock price and the price of crude oil from April 28, 2016, to April 28, 2017, is 0.66.

Schlumberger’s management is skeptical about a sustained energy market recovery due to deficit cash flow generation and low productivity improvement.

In this article, we’ll analyze the correlation between Schlumberger’s (SLB) stock price and West Texas Intermediate (or WTI) crude oil’s price.

In this part of the series, we’ll look at the worst OFS stocks by expected earnings growth in 1Q17.

In the past couple of years, some major US upstream and integrated companies have reduced their capex following the sharp fall in crude oil prices.

National Oilwell Varco (NOV) stock has had a steady run in the past year. On March 7, 2017, NOV was trading at $39.30, an ~13% rise year-over-year.

On March 3, 2017, approximately 92.0% of analysts tracking Halliburton stock rated it a “buy” or some equivalent.

Core Laboratories (CLB) is the largest company by market capitalization among our set of select oilfield services and equipment (or OFS) companies…

On February 24, ~14% of the analysts tracking National Oilwell Varco rated it as a “buy,” ~74% rated it as a “hold,” and 12% rated it as a “sell.”

The correlation coefficient between Schlumberger’s stock price and crude oil prices from February 2016 to the present is 0.48.

In the past couple of years, some major US upstream and integrated companies have reduced their capital expenditures (capex) following crude oil’s sharp fall.

On February 21, 2017, Seadrill (SDRL) had the highest implied volatility among the OFS companies that are part of the VanEck Vectors Oil Services ETF (OIH).

In the past couple of years, some of the major US upstream and integrated companies have reduced capital expenditure following crude oil prices’ sharp decline.

While CARBO Ceramics (CRR) rose the most among the oilfield services stocks with high implied volatility in the last five days, Seadrill lost the most.

On January 31, 2017, Seadrill (SDRL) had the highest implied volatility among the OFS (oilfield equipment and services) companies that are part of the VanEck Vectors Oil Services ETF (OIH).

In the past couple of years, some of the major US upstream and integrated companies have reduced capital expenditure as a result of crude oil’s sharp decline.

The short interest in Baker Hughes (BHI) stock as a percentage of its float was 2.3% as of January 10—compared to 1.8% as of September 30.

In 4Q16, analysts expect an $0.11 adjusted loss per share for Baker Hughes. They expect Baker Hughes’s adjusted loss to improve 29% in the coming quarter.

Short interest in Flotek Industries (FTK) as a percentage of its float is 24.2% as of January 6, 2017. That compares to 23.3% as of September 30, 2016.