Which Way Will Schlumberger’s Indebtedness Go?
Schlumberger’s net debt to TTM EBITDA shot up from 4Q14 to 4Q15. In 4Q15, its net-debt-to-EBITDA multiple was 0.84, or 71% higher than one year ago.
What Might Happen to Oil States’ Revenues in Q2 2018?
Oil States International (OIS) ranks fourth on our list of the top five revenue growing OFS companies, according to analysts.
Halliburton’s Expected 2Q15 Earnings Signal More Weakness
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.
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.
Oilfield Services Gainers: CRR, OII, OIS, FTK, and NOV
In the week starting on March 19, 2018, CARBO Ceramics (CRR) was the top gainer from the oilfield services group.
How the Weakness in WTI Crude Oil Spread to Oil Rig Counts
On September 11, Baker Hughes disclosed the US rig count at noon. WTI (West Texas Intermediate) crude oil increased 0.20% to ~$45.03 following the disclosure.
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.
Analysts’ Forecasts for National Oilwell Varco on April 7
On April 7, ~18% of the analysts tracking National Oilwell Varco rated it a “buy,” ~74% rated it a “hold,” and only 8% of the analysts rated it a “sell.”
Why Schlumberger Remains the Best OFS Stock after Brexit Vote
Schlumberger (SLB) is the largest company in the OFS (oilfield equipment & service) industry by market capitalization.
Will the Rig Count Impact Halliburton’s Earnings in 4Q17?
From September 29, 2017, until the week ending December 29, 2017, the US rig count fell 1% and finished at 929.
Patterson-UTI Energy’s Correlation with Crude Oil on November 14
The correlation coefficient between crude oil prices and Patterson-UTI Energy (PTEN) from November 14, 2016, to November 14, 2017, was 0.63.
Wall Street’s Forecasts for BHI before 2Q16 Earnings
Approximately 62% of analysts tracking Baker Hughes (BHI) rated it as a “buy” or some equivalent. Approximately 32% rated the company as a “hold” or an equivalent, and the remaining 6% rated it as a “sell.”
How Halliburton’s Free Cash Flow Turned Around in 2Q17
Halliburton’s (HAL) cash from operating activities (or CFO) in 2Q17 was a huge improvement over 2Q16 as well as an increase over 1Q17.
How Did Halliburton Turn Its Free Cash Flow Positive in 2017?
Halliburton’s (HAL) CFO (cash flow from operating activities) in 2017 was a significant improvement over 2016.
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.
Worst Oilfield Services Growth Stocks with Respect to the Market
Weatherford International’s (WFT) stock price has fallen 16.0% through December 29, 2017, in the past year.
Why Schlumberger’s Stock Price Is Bearish
In the past year, Schlumberger’s stock price rose until January 2017. Schlumberger’s revenue fell slowly in the four quarters leading up to 1Q17.
ION Geophysical Fell the Most in the Oilfield Services Industry
In the week starting November 20, 2017, ION Geophysical (IO) fell the most among stocks in the oilfield services sector.
Analysts Weigh In on Baker Hughes ahead of Its Earnings Release
In 2Q16, Baker Hughes’s adjusted EPS fell short of analysts’ consensus EPS estimates. On average, the company’s adjusted EPS has fallen short of consensus EPS estimates by ~12% in the past 13 quarters.
Wall Street Analysts’ Recommendations for TechnipFMC
In this article, we’ll look at Wall Street analysts’ recommendations for TechnipFMC (FTI) on November 9.
WTI Crude Oil Prices Rose on Friday as US Rig Count Decreased
On October 16, WTI crude oil futures for November expiry closed at $47.26 per barrel—a 1% rise from the previous day’s close at $46.38 per barrel.
Analysts’ Forecasts for Weatherford after Its 1Q17 Earnings
On April 28, after its 1Q17 earnings, ~74% of the analysts tracking Weatherford International rated it as a “buy” or some equivalent.
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.
Will Weatherford International’s Cost Structure Improve?
Geography-wise, revenues from Weatherford International’s (WFT) North America region fell the most, by 50% from 2Q15 to 2Q16.
What Does Wall Street Forecast for Tidewater?
On January 18, none of the analysts tracking Tidewater rated it as a “buy” or some equivalent, according to data compiled by Reuters.
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 National Oilwell Varco as of July 16
The short interest in National Oilwell Varco (NOV) as a percentage of its float was 5.9% as of July 16.
Will Upstream Capex Impact Baker Hughes’s Margin in Q2 2018?
From Q1 2017 to Q1 2018, the upstream companies constituting the Energy Select Sector SPDR ETF (XLE) boosted capex by 8%.
Analyzing Baker Hughes’s Revenues and Earnings in Q1 2018
On a combined business basis, from Q1 2017 to Q1 2018, Baker Hughes’s (BHGE) Oilfield Services segment saw 12% higher revenues.
Analyzing the Short Interest: NOV, FTI, OIS, TS, and OII
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.
Oceaneering International: 5% of the Analysts Gave a ‘Sell’ Rating
Approximately 5% of the analysts tracking Oceaneering International recommended a “sell” or some equivalent as of June 25.
Five OFS Companies with the Highest ‘Sell’ Recommendations
According to Wall Street analysts’ ratings, National Oilwell Varco (NOV) has the highest “sell” recommendations in the OFS industry.
What’s OII’s Stock Price Forecast for the Week Ending June 29?
On June 21, Oceaneering International’s (OII) implied volatility was 40.5%.
How Is Oceaneering International Reacting to Crude Oil’s Price?
OII’s correlation with crude oil’s price from March 21 to June 21 represented a positive relationship between OII and crude oil.
Schulmberger Is Ranked Fifth for ‘Buy’ Ratings
Approximately 74% of the analysts tracking Schlumberger recommended a “buy” or some equivalent as of June 19.
A Look at Oceaneering International’s Returns
Oceaneering International’s (OII) YoY (year-over-year) return was 9.2% on June 21. How did industry ETFs compare?
Oilfield Services Gainers This Week: AROC, OII, DRQ, TTI, CRR
From June 18–20, Archrock (AROC) was at the top of the list of gainers in the oilfield services group.
How Is Helix Energy Solutions Group Reacting to Crude Oil Prices?
Helix Energy Solutions Group’s (HLX) correlation with crude oil from January 1 to May 10 was 0.42, which indicates a positive relationship between HLX’s stock and crude oil prices.
What Analysts Expect for National Oilwell Varco in 1Q18
In 1Q18, Wall Street analysts expect National Oilwell Varco (NOV) to post adjusted EPS (earnings per share) of -$0.01, compared with -$0.04 in 4Q17.
Oil States International: Higher Earnings in the Next 12 Months?
As of December 31, 2017, Oil States International’s (OIS) EV decreased. Oil States International’s stock price declined compared to a year ago.
Wall Street’s Forecasts for Weatherford after Its 4Q17 Earnings
Wall Street analysts’ mean target price for Weatherford International (WFT) on February 2 was ~$5.30. WFT is currently trading at ~$3.50, implying an ~52.0% upside at its current price.
What Wall Street Analysts Expect from NOV’s 4Q17 Earnings
In 4Q17, Wall Street analysts expect a $0.04 adjusted loss per share for National Oilwell Varco (NOV), which indicates that Wall Street analysts expect NOV to cut its adjusted loss from 3Q17 of $0.07 per share.
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.
Bottom 5 OFS Stocks for 4Q17 by Expected Revenue Growth
Analysts expect McDermott International’s (MDR) revenues to register the steepest revenue fall in 4Q17. Its revenues can decrease ~23.0% in 4Q17 over 3Q17.
What Wall Street Says about Weatherford International
On December 26, 2017, 78% of the Wall Street analysts tracking Weatherford International rated it a “buy” or some equivalent.
How Will Nabors Industries Use Its Free Cash Flow after 3Q17?
Nabors Industries’ (NBR) cash from operating activities (or CFO) turned negative in 3Q17, compared to a positive CFO a year ago.
How Flotek Industries Reacted to Crude Oil’s Changes
Flotek Industries’ correlation coefficient with the Dow Jones Industrial Average since October 12, 2016, is 0.12.
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.
Who Were the Biggest Oilfield Services Gainers Last Week?
In the week ending September 8, 2017, Carbo Ceramics (CRR) was at the top of the list of gainers from the oilfield services group.
Correlation between Nabors Industries and Crude Oil on August 18
The correlation coefficient between the price of crude oil and Nabors Industries’ (NBR) stock price from August 19, 2016, to August 18, 2017, is 0.64.
How Nabors Could Use Its Free Cash Flow This Year
Nabors Industries’ (NBR) CFO (cash from operating activities) turned positive in 2Q17, compared with its negative CFO in 1Q17.
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.
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.
What Are Nabors Industries’ Capex Plans for 2017?
Nabors Industries’ (NBR) cash from operating activities (or CFO) turned negative in 1Q17, compared to its positive CFO a year earlier.
What’s Wall Street’s Take on Weatherford as of June 7?
In this article, we’ll look Wall Street analysts’ recommendations for Weatherford International (WFT) as of June 7, 2017.
What’s the Correlation between Schlumberger and Crude Oil?
The correlation coefficient between Schlumberger’s stock price and crude oil prices from June 9, 2016, to June 9, 2017, is 0.64.
What Analysts Recommend for Schlumberger
On May 31, 2017, 80% of the analysts tracking Schlumberger rated it a “buy” or some equivalent.
Behind Patterson-UTI’s Correlation with Crude on April 12
The correlation coefficient between Patterson-UTI Energy’s stock price and the price of crude oil from April 12, 2016, to April 12, 2017, stands at 0.63.
Analysts’ Recommendations for Weatherford International
On March 1, ~71% of the analysts tracking Weatherford International rated it as a “buy,” ~20% rated it as a “hold,” and the rest rated it as a “sell.”
Wall Street’s Forecasts for Tidewater after Its Fiscal 3Q17 Earnings
According to Reuters, none of the analysts tracking Tidewater (TDW) recommended a “buy” or any equivalent for the stock.
Will Tidewater’s Fiscal 3Q17 Earnings Disappoint?
In fiscal 3Q17, analysts expect $1.16 adjusted loss per share for Tidewater (TDW). Wall Street analysts expect Tidewater’s adjusted loss to deteriorate.
What Are Tidewater’s Growth Drivers?
From April 1 to September 30 of fiscal 2017, Tidewater’s (TDW) revenues fell 46% compared to the same period in fiscal 2016.
What’s National Oilwell Varco’s Historical Valuation?
On September 30, 2016, National Oilwell Varco’s (NOV) share price was 10% higher compared to December 31, 2015.
How Volatile Is Halliburton?
On October 5, Halliburton had an implied volatility of 28.5%. Since July 20, 2016, its implied volatility rose from ~27% to the current level.
What Are Analysts’ Targets for Worst Oilfield Services Companies?
Approximately 53% of the analysts tracking Forum Energy Technologies recommended a “buy,” ~39% recommended a “hold,” and the rest recommended a “sell.”
How Volatile Are the Worst Oilfield Service Companies?
In this part, we’ll compare the implied volatility of the worst OFS (oilfield services and equipment) companies by expected earnings growth for 3Q16.
How Volatile is Halliburton?
On September 2, 2016, Halliburton (HAL) had an implied volatility of 30% compared to 27% on July 20, 2016.
Is Core Laboratories Overvalued at Current Levels?
Core Laboratories’ PE multiple increased sharply in 2Q16 as compared to fiscal 2015. CLB’s adjusted earnings decreased by ~46% as compared to 4Q15.
Baker Hughes Anticipates a Mixed Bag in 2016
From 2Q15 to 2Q16, all of Baker Hughes’s (BHI) segments saw revenues drop. Its North America operations suffered the biggest revenue decline (55% fall), while the Industrial Services segment was the most resilient (~11% fall).
What Can Drive National Oilwell Varco in 2Q16?
National Oilwell Varco’s revenues were on a downtrend from fiscal 1Q15 through fiscal 1Q16. During this period, its Rig Systems segment revenue fell 63%.
What Does Patterson-UTI Energy’s Current Valuation Imply?
Patterson-UTI Energy’s (PTEN) adjusted earnings were negative in fiscal 1Q16.
Nabors Industries’ Historical Valuation: Does It Matter?
Nabors Industries’ historical valuation, expressed as an EV-to-EBITDA multiple, declined sharply from 2014 to 2015 when net debt decreased.
What Baker Hughes’s Historical Valuation Means Today
Baker Hughes’s PE multiple fluctuated between 2009 and 2014. On December 31, 2015, BHI’s share price was 18% lower than one year previously.
Why Is Schlumberger’s Indebtedness Rising?
Looking at Schlumberger’s indebtedness, we see that from fiscal 1Q13 to fiscal 4Q14, its total debt increased 20%. Its cash and marketable securities increased 35%.
Why Does Forum Energy Technologies Expect Steady Free Cash Flow?
In 12 out of the past 13 quarters until 1Q16, Forum Energy Technologies generated positive FCF.
Analyzing Dril-Quip’s Free Cash Flow and Backlog
In 12 out of the past 13 quarters until 1Q16, Dril-Quip generated positive free cash flow.
What’s Affecting Schlumberger’s Growth?
Revenues from Schlumberger’s North America region declined the most in 2015, falling by 55%. Its Middle East/Asia region’s revenue fell moderately by 27% during the same period.
Explaining National Oilwell Varco’s Historical Valuation
National Oilwell Varco’s price-to-earnings multiple was range-bound between 2009 and 2015. In 2015, NOV’s adjusted earnings fell 53% compared to 2014.
Why Is National Oilwell Varco’s Share Price Staying Weak?
National Oilwell Varco, which designs, manufactures, and sells equipment and components used in upstream energy production, has had a weak run recently.
Why Is Nabors Industries’ Share Price Still Weak?
Nabors Industries is one of the largest land-based drilling operators in the world. On April 4, Nabors Industries was trading ~41% lower than its price a year ago.
Analyzing One-Year Returns for Top Oilfield Services Companies
Based on the past year’s performance, many of the oilfield equipment and services stocks have underperformed the industry ETF. The slump in the US rig count, which started in October 2014, has negatively affected the OFS sector.
Why Is Helmerich & Payne’s Share Price Gaining Strength?
Helmerich & Payne was trading at $60.98 on March 21, 2016. This is ~11% lower than the company’s price one year previously.
Dril-Quip’s Free Cash Flow and Backlog
In 11 of the past 12 quarters until fiscal 4Q15, Dril-Quip generated positive free cash flow. Lower CFO combined with similar capex led to FCF decreasing 40% in the past one year.
Could Helmerich & Payne’s Debt Be Reassuring?
From fiscal 2Q13 to fiscal 4Q15, Helmerich & Payne’s cash and marketable securities exceeded its total debt. This led to negative net debt.
Eagle Ford Oil and Gas Production Was Down Again in November
The EIA estimates that natural gas production at the Eagle Ford Shale was 6.7 billion cubic feet per day in November 2015, 2% below October’s level.
What Are Wall Street Targets for Select Oilfield Services Companies?
In this article, we will look at Wall Street targets for our select oilfield equipment and services (or OFS) stocks.
Analyzing the EPS Growth of 4 Oilfield Service Companies
Transocean’s (RIG) 3Q15 net income improved remarkably over 3Q14. Its 3Q15 net income was $321 million versus a ~$2.2 billion loss a year earlier.
Comparing Capex Growth for RIG, ESV, OII, and OIS
Transocean (RIG) recorded a 158% 3Q15 capital expenditure (or capex) growth compared to the year-ago quarter.
Why OII’s Free Cash Flow Is Remarkable
OII’s free cash flow in 3Q15 was $128 million and was a huge improvement over $31 million FCF a year earlier.
The US Onshore Rig Count Fell in the Week Ended November 20
During the week ended November 20, the US onshore rig count fell by seven. During the week, there were 727 land-based, or onshore, rigs, including two inland water rigs.
Did ESV Manage Revenue Decline Better than Others?
Ensco registered the lowest revenue decline in the group. It recorded a 15.7% revenue fall in 3Q15 compared to the year-ago quarter.
Analyzing the 14% US Onshore Rig Count Fall in the Past 12 Weeks
During the week ended November 13, the US onshore rig count fell by five. In the week ended November 13, there were 734 land-based, or onshore, rigs.
How WTI Crude Oil Prices Reacted to Oil Rig Fall on November 6
On November 6, after six US crude oil rigs went off-line, WTI crude oil futures for November expiry closed at $44.29 per barrel—2% lower than the previous day’s close at $45.20 per barrel.
Analyzing the 13% US Onshore Rig Count Fall in the Past 10 Weeks
Over the past ten weeks, 114 onshore rigs, or 13%, have been idled. As of November 6, the US onshore rig count is at its lowest point since January 2003.
Analyzing the US Onshore Rig Count Fall and Its Impact
Over the past ten weeks, 111 onshore rigs, or 13%, have been idled. As of October 30, the onshore rig count is at its lowest point since January 2003.
Impact of US Onshore Rig Counts Falling in Past 9 Weeks
During the week ending October 23, 2015, the count of US onshore rigs fell by two from the count in the week ending October 16.
12% of US Onshore Rigs Idled in Past 8 Weeks: What’s the Impact?
During the week ending October 16, 2015, the US onshore rig count fell by nine from the previous week’s count. Last week, there were 754 land-based (or onshore) rigs, including three inland water rigs.
Crude Oil Rigs Up and Natural Gas Rigs Down Last Week
In the week ending July 2, the US rig count rose by 12 active crude oil rigs—partially offset by a fall of nine natural gas rigs.
Crude Oil and Natural Gas Rigs Diverged Last Week
In the week ending June 26, the US rig count rose by five active natural gas rigs, partially offset by a fall of three crude oil rigs.
Why Are Energy Companies Affected by Falling Rig Counts?
In the 12 months to June 19, the total US crude oil and natural gas rig count fell by 1,001, or 54%. The number of active oil rigs fell by 914, or 59%.