Core Laboratories NV
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Top Energy Gains Last Week
On April 16, McDermott International announced that it will release its first-quarter earnings results on April 29.
David Einhorn Was Right about Apple
Greenlight Capital (GLRE) exited its position in Apple in the third quarter of 2018.
Why Halliburton’s Q2 2018 Earnings Narrowly Missed Estimates
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.
Weatherford International’s Short Interest on July 17
Short interest in Weatherford International (WFT) as a percentage of its float was 12.6% on July 17.
Short Interest in ION Geophysical
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 Reports Q2 2018 Earnings, Beats Estimates
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.
TETRA Technologies: Wall Street Analysts’ Forecast
Approximately 83% of Wall Street analysts tracking TETRA Technologies rated it as a “buy” or some equivalent as of July 12.
TETRA Technologies Reacts to Crude Oil
TETRA Technologies’ (TTI) correlation with crude oil on April 12–July 12 was 0.30. The correlation represents a positive relationship.
What Analysts Project for TechnipFMC in the Second Quarter
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.
US Crude Oil Rig Count Hits a Three-Year High
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.
How WFT Stock Has Reacted to Crude Oil Prices
Weatherford International (WFT) stock’s correlation with crude oil was strong between June 29 and July 6, at 0.72.
The Top Energy Decliners in the Week Ended July 6
During the week ended July 6, US crude oil August futures and natural gas August futures fell 0.5% and 2.3%, respectively.
How Is Baker Hughes Reacting to Crude Oil Prices?
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.
Why Baker Hughes’s Q2 2018 Earnings Rose
For Q2 2018, analysts expect Baker Hughes to post adjusted earnings per share of $0.14.
Are Hedge Funds Buying TELL, LGCY, AROC, and CLB?
In Q1 2018, ten hedge funds either created new positions or added to their positions in Tellurian (TELL).
Saudi Arabia’s Crude Oil Production Could Hit a New Record
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.
OPEC’s Crude Oil Production Rose in June
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 Reacts to Crude Oil’s Price
Superior Energy Services’ (SPN) correlation with crude oil’s price on March 28–June 28 was 0.62—a strong positive relationship.
Patterson-UTI Energy’s ‘Buy’ Ratings Are Increasing
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%.
Weatherford: This Week’s Weakest Oilfield Service Stock
This week, Weatherford International (WFT) has fallen the most in the oilfield service sector, by 3.3% from $3.64 to $3.52.
Wall Street’s Targets for SLB, HAL, KEG, NBR, and CLB
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.
A Look at the Short Interests of SLB, HAL, KEG, NBR, and CLB
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.
Comparing the Returns of 5 OFS Companies by Net Debt-to-Equity
From June 1, 2017, to June 1, 2018, Key Energy Services (KEG) produced an -11% return.
What Does Schlumberger’s Net Debt-to-Equity Ratio Suggest?
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.
What’s Up with Halliburton’s Net Debt-to-Equity Ratio?
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.
The 5 Oilfield Companies with the Highest Net Debt-to-Equity
In this series, we’ll analyze the five oilfield equipment and services companies with the highest net debt-to-equity ratios in Q1 2018.
How NOW Stock Has Reacted to Crude Oil Prices
Between January 1 and May 23, NOW’s (DNOW) correlation with crude oil was 0.38.
Schlumberger’s Dividend Yield and Why It Matters
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’s Stock Price after First-Quarter Earnings
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 the Top 5 OFS Companies by Free Cash Flow
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.
Is Schlumberger’s Stock Price Showing Weakness?
On February 23, 2018, Schlumberger was trading at $66.50, which is ~17% lower than its price a year ago.
Wall Street’s Forecasts for Flotek Industries after 4Q17 Earnings
Here, we’ll discuss Wall Street analysts’ forecasts for Flotek Industries (FTK) following its 4Q17 earnings release.
What Wall Street Analysts Recommend for Halliburton
On February 15, 2018, approximately 92% of the Wall Street analysts tracking Halliburton rated it a “buy” or some equivalent.
Wall Street’s Forecasts for NOV after Its 4Q17 Earnings
In this article, we’ll take a look at Wall Street analysts’ forecasts for National Oilwell Varco (NOV) shares following its 4Q17 earnings release.
Halliburton Reacts to Crude Oil’s Price Change
Halliburton’s (HAL) stock price correlation coefficient with crude oil prices on January 19–26, 2018, was 0.72.
Analysts’ Forecast for Halliburton after Its 4Q17 Earnings
On January 22, the day Halliburton released its 4Q17 earnings, ~92% of the analysts tracking Halliburton rated it as a “buy” or some equivalent.
Wall Street’s Forecast for Schlumberger after 4Q17 Earnings
Approximately 71% of the analysts tracking Schlumberger rated it as a “buy” or some equivalent on January 19, 2018.
How Weatherford Reacted to Crude Oil Price Changes
From December 29, 2017, to January 5, 2018, Weatherford International’s (WFT) correlation with the West Texas Intermediate crude oil price was -0.13.
How Did Schlumberger React to Crude Oil Prices Last Week?
Crude oil prices have risen significantly since the end of June 2017. Analysts don’t expect much impending downside in crude oil prices.
Halliburton’s Valuation Compared to Its Peers
Halliburton’s forward EV-to-EBITDA multiple compression versus its adjusted TTM EV-to-EBITDA is marginally higher than its peers’ average.
What’s Schlumberger’s Dividend Yield?
On November 22, 2017, Schlumberger’s dividend yield increased to ~3.2% due to an 11% stock price fall on September 29–November 22.
TechnipFMC’s Valuation Relative to Peers
Schlumberger (SLB) is the largest company by market capitalization among our set of select oilfield services and equipment (or OFS) companies.
Wall Street’s Forecasts for Superior Energy Services
On October 31, approximately 48% of analysts tracking Superior Energy Services rated it as a “buy” or some equivalent.
Wall Street’s Forecasts for Baker Hughes after Its 3Q17 Earnings
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.
How Did Weatherford React to Crude Oil Price Changes?
The correlation coefficient between Weatherford International’s (WFT) stock price and WTI crude oil prices on October 13–20, 2017, was -0.05.
Wall Street’s Forecast for Flotek Industries before Its 3Q17 Earnings
On October 16, 2017, all analysts tracking Flotek Industries rated it as a “buy” or some equivalent.
What Analysts Expect from Flotek Industries’ 3Q17 Earnings
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.
Halliburton Reacts to Crude Oil’s Price Change
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.
Nabors Industries’ Short Interest on October 12
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.
Analysts’ Forecast for Weatherford before Its 3Q17 Earnings
On October 10, 2017, ~74% of the Wall Street analysts tracking Weatherford International rated it as a “buy” or some equivalent.
What Wall Street Analysts Expect from PTEN’s 3Q17 Earnings
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 Reacted to Crude Oil Price Changes
Weatherford’s low correlation with crude oil might not help its stock price much even if crude oil’s current upward momentum continues.
Flotek Industries Stock: Biggest Fall in the Industry
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’ Dividend Yield Curve
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.
Wall Street’s Call on Weatherford International
In this article, we’ll look Wall Street’s call and target price for Weatherford International (WFT) on September 12.
National Oilwell Varco’s Valuation Compared to Its Peers
National Oilwell’s valuation, expressed as the TTM PE (price-to-earnings) multiple, isn’t available due to its negative adjusted earnings.
What’s Affected National Oilwell Varco’s Margin in 2017
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 […]
Correlation between Crude Oil and Halliburton on September 5
The correlation coefficient between the price of crude oil and Halliburton (HAL) stock from September 5, 2016, to September 5, 2017, is 0.65.
Will SPM Projects Drive Schlumberger’s Returns in 2017?
In this series, we’ll discuss Schlumberger’s (SLB) relative valuation multiples and other market indicators.
Short Interest in Nabors Industries on September 1
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.
Wall Street Analysts’ Recommendations for Flotek Industries
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.”
Flotek Industries’ Current Valuation versus Its Peers
Sell-side analysts expect Flotek’s adjusted EBITDA to rise sharper in the next four quarters compared to its peers.
What Flotek Industries’ Historical Valuation Suggests
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.
How Rig Count and Upstream Operator Capex Affected FTK
From 2Q16 to 2Q17, Flotek Industries’ (FTK) EBITDA margin (or EBITDA as a percentage of revenues) improved to 2.3% from 0.7%.
Correlation between Weatherford and Crude Oil on August 4
Weatherford International (WFT) stock and crude oil prices have had a steady positive correlation in the past year.
What Wall Street Projects for PTEN after 2Q17 Earnings
In this article, we’ll look at Wall Street analysts’ forecasts for Patterson-UTI Energy (PTEN) stock following its 2Q17 earnings release.
What’s Schlumberger’s Correlation with Crude Oil after 2Q17?
The correlation coefficient between Schlumberger’s stock price and WTI (West Texas Intermediate) crude oil prices from July 21, 2016, to July 21, 2017, was 0.63.
What Analysts Expect from Nabors Industries’ 2Q17 Earnings
In 2Q17, analysts expect Nabors Industries (NBR) to post adjusted loss of $0.35 per share.
What PTEN’s Analysts Expect for 2Q17
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.
What Analysts Forecast for NOV ahead of 2Q17 Earnings
On July 11, 2017, approximately 20% of analysts tracking National Oilwell Varco rated it a “buy” or some equivalent.
Analyzing the Short Interest in National Oilwell Varco on July 11
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.
Company & Industry Overviews Key Analyst Ratings on Energy Stocks Last Week
In 2Q17, Standard & Poor’s downgraded ExxonMobil’s (XOM) outlook from “stable” to “negative.”
What Was the Correlation between WFT and Crude Oil on July 7?
There has been a steady positive relationship between Weatherford International’s (WFT) stock and crude oil prices since July 2016.
Flotek on the Street: The Latest Analyst Recommendations
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.
Weighing Flotek’s Current Valuation against Peers
Sell-side analysts expect FTK’s adjusted EBITDA to rise more sharply over the next four quarters than those of its peers.
How the Worst-Performing OFS Companies Correlate with Crude Oil
The correlation coefficient between crude oil’s price and Schlumberger’s (SLB) stock price from June 2016 to June 2017 is 0.64.
Analysts’ Recommendations for Halliburton
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.”
Halliburton’s Valuation Compared to Its Peers
Halliburton’s debt-to-equity multiple is higher than the group average. A higher multiple could indicate a higher debt load and financial risk.
What’s NOV’s Correlation with Crude Oil in June 2017?
National Oilwell Varco’s (NOV) correlation with crude oil prices from June 9, 2016, to June 9, 2017, is 0.61.
What’s Weatherford’s Valuation Compared to Its Peers’?
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.
Can Upstream Operators’ Capex Affect PTEN’s Margin in 2017?
Some of the major US upstream and integrated companies have gradually reduced their capex following crude oil’s sharp price fall since mid-2014.
Upstream Operators’ Capex Could Impact Schlumberger’s Margin
Schlumberger’s EBITDA margin was impacted negatively as upstream companies slashed their budgets. From 1Q16 to 1Q17, Schlumberger’s EBITDA margin fell.
National Oilwell Varco’s Valuation Compared to Its Peers
National Oilwell Varco’s (NOV) EV (enterprise value) when scaled by the trailing 12-month (or TTM) adjusted EBITDA isn’t meaningful due to its negative earnings.
Einhorn at Sohn Investment Conference: Short Core Laboratories
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).
What’s Basic Energy Services’ Valuation?
Basic Energy Services’ debt-to-equity (or leverage) multiple is lower than the peer average.
Will Upstream Operators’ Capexes Affect Basic Energy’s Q1 Margin?
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.
Inside Halliburton’s Correlation with Crude Oil on April 28
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: Returns and Growth Estimates after 1Q17
Schlumberger’s management is skeptical about a sustained energy market recovery due to deficit cash flow generation and low productivity improvement.
What’s NOV’s Correlation with Crude Oil on April 21?
In this part, we’ll analyze the correlation between National Oilwell Varco’s (NOV) stock price and the West Texas Intermediate (or WTI) crude oil price.
What’s Schlumberger’s Correlation with Crude Oil?
In this article, we’ll analyze the correlation between Schlumberger’s (SLB) stock price and West Texas Intermediate (or WTI) crude oil’s price.
Worst Oilfield Services Stocks in the Industry
In this part of the series, we’ll look at the worst OFS stocks by expected earnings growth in 1Q17.
Upstream Operators’ Capex and Patterson-UTI Energy’s 2017 Margins
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’s Valuation Compared to Its Peers
National Oilwell Varco’s (NOV) EV, when scaled by the trailing 12-month (or TTM) adjusted EBITDA, is higher than the peer average in our group.
Is National Oilwell Varco’s Stock Price Gaining Steam?
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.
What Wall Street Is Forecasting for Halliburton
On March 3, 2017, approximately 92.0% of analysts tracking Halliburton stock rated it a “buy” or some equivalent.
How Flotek Industries Is Valued versus Peer Stocks
Core Laboratories (CLB) is the largest company by market capitalization among our set of select oilfield services and equipment (or OFS) companies…
Wall Street Analysts’ Forecasts for National Oilwell Varco
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.”
Correlation between Schlumberger and Crude Oil
The correlation coefficient between Schlumberger’s stock price and crude oil prices from February 2016 to the present is 0.48.
Will Upstream Operators’ Capexes Affect SLB’s 1Q17 Margin?
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.
Option Traders: Which OFS Stocks Should Investors Watch?
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).