Halliburton Co

Wall Street analysts gave mixed recommendations after Apache’s quarterly results. Apache shares fell 5% on November 6, 2015, after the earnings release.

The EIA expects less natural gas production at four key US shales by January 2017 compared to November 2016. It expects production to rise at three key US shales.

Schlumberger’s trailing-one-year stock price has fallen 12% as of June 16, 2017, while XLE, the broader energy industry ETF, has fallen 3%.

The US economy stalled in 2014 for several reasons, including seasonality, weather, strength of the dollar, the West Coast port strike, and the oil price slump.

In Latin America, BHI expects year-end product sales to increase. It also expects the offshore Mexico rig activity to increase.

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

On March 31, 2017, National Oilwell Varco (NOV) stock was 7.0% higher than on December 30, 2016. In 1Q17, its adjusted earnings were negative.

Since the week ending September 29, 2017, Weatherford International stock has fallen 7% until October 6, 2017. OIH has generated -2% returns.

Schlumberger (SLB) and Halliburton (HAL) saw higher revenues from North America in 1Q18—compared to the previous year.

National Oilwell Varco’s (NOV) capital expenditure or capex fell ~32% in fiscal 2017—compared to its capex spend in fiscal 2016.

Schlumberger had the lowest implied volatility figures among all of the OFS companies on May 31, 2016. It has returned 9.4% on a YTD basis.

As a result of steeply falling CFO, Halliburton’s free cash flow deteriorated to a negative $499 million in 3Q15 from a negative $71 million a year ago.

Between December 2014 and December 2016, Baker Hughes (BHI) stock hit its peak in April 2015. It troughed at ~$39 in January 2016.

The $42 purchase price was a high premium of over 50% to where ADT (ADT) was trading on February 12, 2016, the Friday before the deal was announced.

Let’s continue our discussion on the Heartland–Global Payments merger. The MAE clause is one of the first things that arbitrageurs look at in a merger agreement.

Of the 27 analysts surveyed by Reuters covering National Oilwell Varco (NOV), one analyst rates the stock as “strong buy,” three analysts rate it as a “buy,” and 21 analysts rate it as a “hold.”

In this series, we’ll analyze National Oilwell Varco’s growth drivers, balance sheet, and dividends.

Halliburton (HAL) reported its third-quarter earnings results on October 22. The company reported EPS of $0.50.

Schlumberger’s (SLB) one-year stock price fell 21.0% as of August 11, 2017. In the past year, the Energy Select Sector SPDR ETF (XLE) has fallen 7.0%.

The expected 2Q15 earnings are 37% lower than 1Q15 adjusted EPS. Weaker crude oil prices and reduced spending by North American upstream energy producers are to blame.

U.S. land rig counts totaled 1,696 on February 21, 2014, compared to 1,692 the week prior. Over the medium term, rig counts have been relatively stable.

Approximately 90% of the analysts tracking Halliburton (HAL) recommended a “buy,” ~8% recommended a “hold,” and the rest recommended a “sell.”

For Schlumberger, seven analysts rated it as a “strong buy,” 15 rated it as a “buy,” 13 rated it as a “hold,” and one rated it as a “sell.”

Rig counts tell us how many rigs are actively drilling for oil and gas. They can be an indication of oil and gas producers’ confidence.

Halliburton’s (HAL) one-week stock price didn’t change in the week ending October 13, 2017. Since October 6, 2017, XLE also remained unchanged.

On Friday, June 5, Baker Hughes released the weekly natural gas rig count report. As expected, natural gas rigs fell by three to 222 for the week ending June 5.

In this article, we’ll discuss how our four oilfield equipment and services (or OFS) companies have fared in terms of revenue growth in 4Q16 compared to 4Q15.

To turn this into a reasonable return, you’re looking at a July close. This isn’t outside the realm of possibility, but it could be tough, especially since there’s a shareholder vote.

Economist Karr Ingham expects that two-thirds of the Texas rigs at work will be laid down. That’s about 600 rigs if the price of crude oil stays low.

National Oilwell Varco (NOV) recorded total revenues of ~$1.7 billion in 1Q17, which was 20.5% lower than the ~$2.2 billion it recorded in 1Q16.

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

On October 13, Halliburton proposed to acquire Baker Hughes’ shares without prior notice. After receiving BHI’s counter proposal, Halliburton refused to increase its first value proposal.

Appaloosa Management enhanced its position in American Airlines Group Inc. (AAL) last quarter that now accounts for 3.48% of Appaloosa’s total 1Q portfolio.

The U.S. rig counts dropped last week, but are still up significantly year-to-date and have increased by 103, or 6%.

On July 16, US crude oil August futures fell 4.2% and settled at $68.06 per barrel—their lowest closing level since June 21.

Many parties in the energy industry and investing community monitor oil and gas rig counts as one measure of drilling activity.

On April 10, 2017, Seadrill had the highest implied volatility among the OFS (oilfield equipment and services) constituents of the VanEck Vectors Oil Services ETF (OIH).

Rate cut transmissions by commercial banks, inflation, and monetary policy actions by the Fed will have the largest influence on India’s future.

Increased global drilling activity and focused cost reduction efforts contributed to National Oilwell Varco’s earnings growth in 2018.

Tidewater (TDW) has the highest implied volatility among all of the OFS companies. The stock has fallen 65.1% on a YTD (year-to-date) basis.

Schlumberger recorded topline and bottom-line growth in its North American operations due to continued efficiency improvements and new technology.

Last week, Baker Hughes reported that the US crude oil rig count fell by one rig to 515 rigs for the week ending January 15, 2016.

In this article, we’ll look at Wall Street analysts’ forecasts for Halliburton (HAL) shares following the company’s fiscal 1Q16 earnings release.

There’s a tender and support agreement between the founding members and Liberty Interactive. These Zulily shareholders have agreed to the Liberty Interactive tender offer.

Baker Hughes reported that US crude oil rigs declined by seven to 797 on March 23–29, 2018. The rigs are near a four-week low.

The correlation coefficient between crude oil prices and Patterson-UTI Energy (PTEN) from August 21, 2016, to August 21, 2017, is 0.63.

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

Baker Hughes (BHI) is a leading supplier of oilfield services, products, technology, and systems to the worldwide oil and natural gas industry.

Halliburton (HAL) recorded a net loss of ~$463 million in 2017—a sharp improvement compared to a net loss of $5.73 billion in 2016.

Compared to 2Q17, Weatherford International’s 3Q17 revenues rose 7.1%.

On April 6, 2016, the U.S. Department of Justice (or DOJ) filed an antitrust lawsuit that proposed blocking the pending Baker Hughes–Halliburton merger.

In this series, we’ll discuss Wall Street analysts’ expectations for some prominent oilfield services companies’ operating earnings in 2017.

Halliburton (HAL) is trading at a forward EV-to-EBITDA multiple of ~8.6x—lower than Schlumberger and Baker Hughes’s forward EV-to-EBITDA multiples.

On January 10, Jefferies cut its target price for Schlumberger from $54 to $47. Morgan Stanley cut its target price for the stock from $50 to $45.

The previous parts of this series (parts 8 and 9) explained the counterintuitive relationship between low natural gas prices, falling rigs, and rising natural gas production. Oil rigs have a simpler relationship with crude oil prices and oil production.

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On May 2, 2017, National Oilwell Varco (NOV) had an implied volatility of 28.3%. After it announced its earnings on April 26, 2017, NOV’s implied volatility fell.

Halliburton’s 3Q16 FCF improved significantly over the previous year. Its CFO rose significantly due to increased rig utilization in North America.

In 4Q14, revenues in the Drilling and Evaluation segment increased 6.5% to $3.29 billion from $3.09 billion recorded in 4Q13.

From 2Q16 to 2Q17, revenue for National Oilwell Varco’s (NOV) Completion & Production Solutions segment rose 21.0%.

U.S. total rig count increases by six The U.S. total drilling rig count increased by six rigs, from 1,883 to 1,889, during the week ending August 1 according to Baker Hughes, which publishes rig counts every week. The number of oil rigs increased by 11, while the number of natural gas rigs decreased by five. […]

Last week, the offshore rig count increased by two to 60, which is close to its 4-year high of 66 that it reached on August 29, 2014.

Baker Hughes will release the weekly crude oil rig count report on July 24, 2015. The crude oil rig count fell by seven to 638 for the week ending July 17.

In 1Q17, analysts expect Schlumberger (SLB) to post adjusted earnings per share (or EPS) of $0.26, a fall of 3% compared to its 4Q16 adjusted EPS of $0.27.

Between 3Q12 and 3Q14, HAL’s adjusted earnings per share (or EPS) has increased 78%. HAL has drawn the attention of Wall Street analysts to review the results and give their recommendations and target price.

In the first nine months of 2017, SPN’s revenues increased 26.0% over the first nine months of 2016.

Appaloosa Management’s top new buy last quarter was American Airlines Group (AAL), with a 2.22% position in the hedge fund’s U.S. long portfolio.

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.

Halliburton’s EV (or enterprise value), when scaled by the TTM (trailing 12-month) adjusted EBITDA, is the lowest in our group.

Halliburton’s forward EV-to-EBITDA multiple is lower compared to 1Q17. Analysts expect higher adjusted EBITDA in the next four quarters.

Wall Street analysts expect Flotek Industries (FTK) to register positive EBITDA (or earnings before interest, tax, depreciation & amortization) in 4Q16.

Halliburton (HAL) released its fiscal 2Q16 financial results on July 20, 2016. It recorded total revenues of $3.4 billion, a decline of 43% from $5.9 billion in fiscal 2Q15.

Schlumberger (SLB) is scheduled to report its first-quarter earnings on April 18. Analysts’ consensus EPS estimate is $0.3 per share.

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.

Active WTI crude oil futures have declined ~10.4% since May 21. The Energy Select Sector SPDR ETF (XLE) has dropped ~4% since May 21.

Horizontal rig counts had been setting and breaking new records before last week’s fall, which marked the third decrease in the past 16 weeks.

Since January, Schlumberger’s stock price has fallen. It reached a one-year low in August. Schlumberger’s revenue has been steady in the past five quarters.

Halliburton’s share price reacted negatively after its fiscal 4Q15 earnings release, falling by 3.9% to $29.28 on the day compared to the day before.

Halliburton reported its fourth-quarter results on January 22. The company’s EPS fell to $0.41 from $0.53 per share in the fourth quarter of 2017.

Nabors Industries (NBR) released its 3Q17 financial results on October 24, 2017. It reported operating revenues of ~$662.0 million in 3Q17, a 27.0% rise from ~$518.0 million in 3Q16.

Wall Street’s forecasts for Halliburton include ~76% of analysts rating the company as a “buy” or some equivalent.

Helmerich & Payne reported its first-quarter results on January 29. The company reported an EPS of $0.17 for the quarter ending December 31.

From 2Q16 to 3Q16, some of the major US upstream and integrated companies’ falling capex moderated, as crude oil prices started to recover in 2016.

On June 13, BHI’s stock price rose 2% over its previous day’s close. GE’s stock price reaction was lukewarm with a fall 2% on June 13.

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

Schlumberger, a Houston-based energy company, provides technology, integrated project management, and information solutions to oil and gas exploration and production companies.

In the past year, Patterson-UTI Energy’s stock price nearly doubled. Since August 19, Seventy Seven’s stock price rose 74%.

In this article, we’ll compare relative valuation multiples for Baker Hughes (BHGE) and National Oilwell Varco (NOV).

Baker Hughes, a GE Company (BHGE), is the largest company by market capitalization in our select set of major oilfield services and equipment companies.

Schlumberger’s (SLB) one-year stock price was down 14% as of June 23, 2017.

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.

Many oilfield equipment and services (or OFS) companies witnessed stupendous rises in their net incomes from 2009 to 2014.

Fairmount Santrol Holdings provides sand-based proppant solutions to the energy upstream sector. It had a strong run in the stock market in 2016.

In this series, we’ll compare Schlumberger (SLB) and Halliburton (HAL), two of the largest oilfield equipment and services (or OFS) companies.

The mean target price for Helmerich & Payne is $70.7, which implies an upside potential of ~22% from its current price.

From 1Q16 to 1Q17, Flotek’s EBITDA margin shrank to 3.3% from 4.1%. FTK’s EBITDA margin has been 1.7%, on average, for the past five quarters.

Baker Hughes Inc. (BHI) is based in Texas. It’s an energy company that operates in the oil and gas equipment and services industry. As of December 31, 2013, BHI operated in more than 80 countries.

In the past year, as of June 19, 2017, Nabors Industries (NBR) has fallen 20.0%. It underperformed the VanEck Vectors Oil Services ETF (OIH), which tracks 25 OFS companies.