Newpark Resources Inc
US Crude Oil Rigs Recovered from a Two-Month Low
US crude oil rigs rose by three to 861 on July 20–27. The rigs hit 858 for the week ending July 20—near the lowest level since May 18.
National Oilwell Varco’s Forward Valuation Multiple Improved
National Oilwell Varco’s forward PE multiple is positive, which reflects sell-side analysts’ estimates of positive earnings in the next 12 months.
Analysts’ Target Prices for the Best-Performing OFS Stocks
Approximately 78% of the Wall Street analysts tracking Newpark Resources (NR) recommended a “buy” or some equivalent on November 20, 2017.
Newpark Resources Is the Second-Best-Performing OFS Stock
Newpark Resources’ (NR) YTD returns were ~17% until November 20, 2017. Since December 30, 2016, Newpark Resources has underperformed the US rig count.
Ranking the Top 5 OFS Companies by Market Returns
In 2017, not many companies in the OFS (oilfield equipment and services) industry have had positive returns from the stock market.
The Top Declining Stock in Oilfield Services so Far This Week
So far this week (as of November 14), Superior Energy Services (SPN) has fallen from $9.45 to $8.31, which represents a ~12% decline.
Oilfield Services Gainers: TTI, IO, FTK, TESO, and NR
Tetra Technologies (TTI) is at the top of the list of gainers from the oilfield services group. TTI increased from its previous week’s close of $2.05 to $2.47 on September 14—a sizeable increase of ~20%.
Natural Gas Prices Rally, Despite the Slowing Gas Rig Count
Natural gas prices soared more than 5%, despite the slowing rig count data on Friday. Slowing drilling activity is negative for oil field services companies.