SPDR® S&P Oil & Gas Equipment&Svcs ETF
Latest SPDR® S&P Oil & Gas Equipment&Svcs ETF News and Updates
Iran and Iraq’s Role in OPEC’s Meeting
The EIA estimates that Iran’s crude oil production was flat at 3.81 MMbpd in April 2017—compared to March 2017. Production rose 8.8% YoY.
SLB, HAL, NOV, and BHGE: Comparing the Capex Growth
National Oilwell Varco’s (NOV) capital expenditure or capex fell ~32% in fiscal 2017—compared to its capex spend in fiscal 2016.
US Crude Oil Inventories Are near January 2016 Levels
The EIA released its weekly crude oil inventory report on September 28, 2016. US crude oil inventories are near January 2016 levels.
How Does Nabors Industries’ Valuation Compare to Its Peers?
Nabors Industries’ valuation, expressed as a TTM PE (price-to-earnings) multiple, isn’t available due to negative adjusted earnings.
WTI and Brent Crude Oil Prices Hit 2016 High
Crude oil prices rose by ~42% since the lows in February 2016. The major reasons were the slowing US production and the new crude oil production deal.
What Rate Hike Road Is the Fed Really on in 2016? (It Looks Strangely Like 2015)
Policymakers are now hinting toward a rate hike in June. But markets seem to be feeling otherwise.
Cushing Inventories Rise for the First Time in 12 Weeks
Cushing is the largest crude oil storage hub in the United States. A market survey estimates that Cushing inventories fell from August 4 to August 11.
US Distillate Inventories Rose for the Sixth Time in 7 Weeks
US distillate inventories increased for the sixth time in the last seven weeks. The inventories rose ~11% in the last seven weeks.
What’s Baker Hughes’s Current Valuation versus Peers?
Baker Hughes, a GE Company (BHGE), is the largest company by market capitalization in our select set of major oilfield services and equipment companies.
US Distillate Inventories Fell for the First Time in 5 Weeks
The fall in distillate inventories supported diesel and crude oil futures on June 28, 2017. US diesel futures rose 1.4% to $1.43 per gallon on June 28.
OPEC Could Pressure US Natural Gas Prices in 2018
US natural gas rigs rose 35% in the last 12 months, while US natural gas prices (UNG) fell 20% during this period.
Reality Check: Major Oil Producers’ Output Cut Plans
Crude oil prices have risen ~15% since November 2016 due to the expectation that major oil producers’ production cuts would curb oversupply in the market.
Will US Crude Oil Futures Fall from 4-Month Highs?
WTI (West Texas Intermediate) crude oil (RYE) (VDE) futures hit $26.21 per barrel on February 11, 2016—the lowest level in more than a decade.
Is the US Crude Oil Bull Market Sustainable?
Brent crude oil futures closed at $57.54 per barrel on September 29, 2017. Some OPEC officials think that $60 per barrel for crude oil isn’t sustainable.
Will Global Crude Oil Demand Fall in 2017 and 2018?
The IEA downgraded the global crude oil demand estimates for 2017 and 2018, which weighed on oil (USO) (USL) prices on November 14, 2017.
Will Crude Oil Prices Break below the 100-Day Moving Average?
So far, crude oil prices and broader markets such as the S&P 500 (SPY) (SPX-INDEX) are diverging in 2017. SPY has risen 4% YTD (year-to-date).
Will Russia’s Oil Production Fall in the Coming Months?
Russia’s Energy Ministry reported that its oil production fell in the first half of April 2017 due to major producers’ production cut deal.
Wall Street’s Forecasts for Halliburton after Low Fiscal 4Q15 Earnings
Approximately 81% of analysts tracking Halliburton have rated it a “buy,” whereas approximately 17% of analysts tracking the company have rated it a “hold.”
Schlumberger Receives Contract from BP
On March 21, 2017, Schlumberger (SLB) announced that BP (BP) awarded SLB’s OneSubSea an engineering, procurement, and construction (or EPC) contract.
OPEC’s Crude Oil Production Hit a Record
OPEC’s crude oil production rose by 236,700 bpd (barrels per day) to 33,643,000 bpd in October 2016—compared to the previous month.
US Crude Oil Futures Are near 3-Week Low: What’s Next?
US crude oil (XLE) (XOP) (IEZ) futures contracts for September delivery fell 0.1% to $47.55 per barrel on August 15, 2017.
Why Traders Are Tracking the API’s Crude Oil Inventories
A market survey estimates that US crude oil inventories fell by 2.83 MMbbls on June 23–30, 2017. Gasoline inventories might have fallen by 0.5 MMbbls.
China Gives Leap Year Gift to Banks: Effect on Crude Oil Prices
April WTI (West Texas Intermediate) crude oil futures contracts trading on NYMEX rose 3.0% and closed at $33.75 per barrel yesterday. Brent crude oil prices also rose 2.5% and settled at $35.97 per barrel.
US Distillate Inventories and Crude Oil Price Forecasts
The EIA reported that US distillate inventories rose by 0.3 MMbbls to 151.4 MMbbls on June 2–9, 2017. Inventories rose for the third straight week.
Gasoline Futures Fell from 20-Month Highs
Gasoline futures contracts for May delivery fell 3% to $1.65 per gallon on April 19, 2017. Prices fell due to the surprise build in US gasoline inventories.
Wall Street’s Forecasts for Fairmount Santrol after Its 3Q17 Earnings
On November 2, 2017, after FMSA’s 3Q17 earnings were released, ~59% of the Wall Street analysts tracking Fairmount Santrol Holdings rated it as a “buy.”
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.
Will Russia’s Crude Oil Production Impact Crude Oil Prices?
Russia is the largest crude oil producer in the world. Its crude oil production was flat at 11.1 MMbpd in February 2017—compared to the previous month.
Record US Crude Oil Inventories: Will the Blood Bath Continue?
A Bloomberg survey estimates that US crude oil inventories could have risen by 3 MMbbls from March 3–10. US crude oil inventories are at an all-time high.
Libya and OPEC Pressure Crude Oil Prices to a 3-Week Low
July WTI (West Texas Intermediate) crude oil (USO) (UCO) (XES) futures contracts trading in NYMEX fell 2.7% and closed at $48.32 per barrel on May 31, 2017.
Analyzing Net Debt for the 4 Biggest Oilfield Servies Companies
In fiscal 1Q16, Schlumberger’s (SLB) net debt-to-EBITDA ratio was 1.1. SLB’s indebtedness more than doubled from 0.53 a year ago.
How’s Schlumberger Valued Compared to Its Peers?
Schlumberger (SLB) is the largest company by market capitalization among our set of select OFS (oilfield equipment and services) companies.
Oil Prices, World Oil Consumption, and Global Economic Growth
Steady world oil consumption would support oil prices in 2017. The change in world consumption is expected to average 1.6% in 2017.
How Will the US Dollar Affect Crude Oil Prices in 2017?
February 2017 WTI (West Texas Intermediate) crude oil (PXI) (ERX) (USL) (ERY) futures contracts rose 0.1% and settled at $53 per barrel on December 23, 2016.
Schlumberger’s Next-7-Day Stock Price Forecast
On March 2, 2018, Schlumberger’s (SLB) implied volatility was 27.1%.
Schlumberger’s One-Week Returns as of June 29
In the week ended June 29, Schlumberger (SLB) stock rose 0.7%. The Energy Select Sector SPDR ETF (XLE) rose 1.1% during the week.
Schlumberger by Implication: Reading Implied Volatility
On March 10, 2017, Schlumberger’s (SLB) implied volatility was 17.7%, having fallen from 19% since its 4Q16 financial results were announced on January 20.
US Crude Oil Production Could Hit a Record
The EIA reported that US crude oil production rose by 32,000 bpd (barrels per day) to 9,429,000 bpd on July 7–14, 2017. Production is at a two-year high.
US Crude Oil Production Fell for the First Time since February
US crude oil production fell by 9,000 bpd to 9,305,000 bpd on May 5–12, 2017. Production fell 0.1% week-over-week, but rose 5.8% year-over-year.
OPEC’s Monthly Report Could Pressure Oil Prices
OPEC will release its Monthly Oil Market Report on July 12, 2017. OPEC’s crude oil production rose in June 2017.
OPEC’s Plan for a Production Cut Exit Strategy
OPEC’s crude oil production was steady at 32.47 MMbpd (million barrels per day) in December 2017, according to a Bloomberg survey.
OPEC’s Crude Oil Production and Strategy Ahead of Its Meeting
A Bloomberg survey reported that that OPEC’s crude oil production increased by 484,000 bpd to 33.2 MMbpd in April 2016—compared to the previous month.
How Hedge Funds Feel about Natural Gas Right Now
On September 29, the CFTC (U.S. Commodity Futures Trading Commission) is slated to release its weekly “Commitment of Traders” report.
Why US Natural Gas Traders Are Tracking OPEC’s Production
Baker Hughes, a GE company, released its weekly US natural gas rigs report on January 19, 2018. Natural gas rigs increased by two to 189 on January 12–19.
Is Saudi Arabia’s Crude Oil Production Strategy Working?
Saudi Arabia’s crude oil production fell by 470,000 bpd to 9.98 MMbpd (million barrels per day) in January 2017—compared to the previous month.
Energy Calendar: Analyzing Key Oil and Gas Drivers
The energy sector contributed to ~6.6% of the S&P 500 on March 31, 2017. Oil and gas producers’ earnings depend on crude oil and natural gas prices.
Chart in Focus: Nabors Industries’ 7-Day Stock Price Forecast
On February 12, 2018, Nabors Industries’ (NBR) implied volatility was 69.5%.
Crude Oil Futures: Next Important Resistance Level
WTI crude oil (UCO) futures closed at $62.01 per barrel on January 4, 2018—the highest level since December 2014. WTI prices rose ~12.4% in 2017.
OPEC’s Crude Oil Production Fell in October
Reuters estimates that OPEC’s crude oil production fell by 80,000 bpd (barrels per day) to 32,780,000 bpd in October 2017—compared to the previous month.
Analyzing China’s Crude Oil Imports and Demand
Bloomberg estimates that China’s crude oil imports fell by 810,000 bpd (barrels per day) to 8.4 MMbpd (million barrels per day) in April 2017.
US Crude Oil Production: A Thorn for Crude Oil Bulls?
US crude oil production rose by 21,000 bpd to 9,314,000 bpd between April 28, 2017, and May 5, 2017. Production rose 0.2% week-over-week and 5.8% YoY.
Analyzing Schlumberger’s Stock Price Forecast This Week
From April 20 to June 29, Schlumberger’s implied volatility has remained nearly unchanged at ~24.0%.
WTI and Brent Crude Oil Prices Fall Due to Profit-Booking
April WTI crude oil futures contracts fell by 3.7% and settled at $36.5 per barrel on March 8. Brent crude oil prices also fell by 2.9% and closed at $39.7 per barrel.
Cushing Inventories Fell 8 Times in 10 Weeks
A market survey estimates that Cushing inventories fell between August 18 and August 25, 2017. Cushing inventories fell for the eighth time in ten weeks.
Cushing Inventories Fell 33% from the Peak
Analysts expect that Cushing crude oil inventories could have declined on January 5–12, 2018. A fall in Cushing inventories is bullish for oil prices.
Analyzing Halliburton’s Stock Price Forecast This Week
Halliburton stock will likely close between $43.14 and $40.46 by August 3—based on its implied volatility.
What Were TETRA Technologies’ One-Year Returns?
TETRA Technologies’ (TTI) one-year returns were 71% until July 12. Since July 13, 2017, the Energy Select Sector SPDR ETF (XLE) has increased 16.7%.
Schlumberger’s Stock Price Forecast this Week
Schlumberger’s (SLB) first-quarter financial results were released on April 20. Between April 20 and June 15, Schlumberger’s implied volatility fell from 24.1% to 22%.
What’s Halliburton’s Stock Price Forecast This Week?
Halliburton’s (HAL) implied volatility was 23.9% on June 8.
Why Rising Oil Prices Should Boost Oil Services Companies
Research conducted here at VanEck has identified that oil price and the S&P 500 Index can be used to explain most of the performance of oil services stocks historically.
Keane Group’s Stock Price Forecast: What to Expect
On May 25, Keane Group’s (FRAC) implied volatility was 40.1%. On May 2, Keane Group’s first-quarter financial results came out.
The Top 5 Oilfield Companies by Market Returns
In 2018, many OFS companies have had positive returns. In this series, we’ll analyze the top five companies by their stock market returns.
What Drove Weatherford’s 1Q18 Performance?
Weatherford International (WFT) released its 1Q18 financial results yesterday.
Short Interest in Oil States International on April 18
As of April 18, 2018, the short interest in Oil States International as a percentage of its float was 8.2%—compared to 10.3% as of April 18, 2017.
Wall Street Forecasts for Baker Hughes before 1Q18 Earnings
In this article, we’ll look at Wall Street analysts’ forecasts for Baker Hughes, a GE Company (BHGE), before its 1Q18 earnings.
Analyzing Schlumberger’s Next 7-Day Stock Price Forecast
On April 11, 2018, Schlumberger’s (SLB) implied volatility was 29.2%. Schlumberger’s 4Q17 earnings were announced on January 19, 2018.
Superior Energy Services: Top Declining Stock in the OFS Industry
In the current week starting on March 26, 2018, Superior Energy Services (SPN) has the top losses in the oilfield services sector.
Halliburton’s Next 7-Day Stock Price Forecast
Halliburton stock will likely close between $48.52 and $44.36 in the next seven days—based on its implied volatility.
Basic Energy Services: Biggest Loss in the Oilfield Services Industry
In the current week starting on March 19, 2018, Basic Energy Services (BAS) was the top declining stock in the oilfield services sector.
Fairmount Santrol Holdings Has Fallen 19% in 2018
Fairmount Santrol Holdings’ (FMSA) YTD returns are -18.9% as of March 14, 2018. Fairmount Santrol Holdings has underperformed the US rig count.
Ranking the 5 Worst OFS Companies by Market Returns in 2018
As of March 14, 2018, Weatherford International (WFT) has seen the steepest YTD fall in stock prices in the OFS industry.
What’s Schlumberger’s 7-Day Stock Price Forecast?
On January 19, 2018, Schlumberger’s (SLB) 4Q17 financial results were released.
Tenaris Has Risen 12% in 2018
Tenaris SA’s (TS) YTD (year-to-date) returns were 12.3% until March 13, 2018. Tenaris has outperformed crude oil prices YTD.
McDermott International Has Increased 16% in 2018
McDermott International’s stock price was the highest YTD at $8.98 on January 24. Since then, the stock price has declined 15% until March 13.
Wall Street Analysts’ Targets for FMSA, SPN, OIS, and NOV
Only two sell-side analysts track Flotek Industries (FTK), as surveyed by Reuters. Both analysts recommended a “buy” or some equivalent on March 9, 2018.
Analyzing the Short Interest in FTK, OIS, NOV, SPN, and FMSA
The short interest in Flotek Industries (FTK) as a percentage of its float was 18.8% as of March 9, 2018—compared to 26.0% as of March 10, 2017.
What’s Halliburton’s Next 7 Day Stock Price Forecast?
Halliburton stock will likely close between $48.63 and $45.35 in the next seven days—based on its implied volatility.
US Crude Oil Inventories Limit the Upside for Oil Prices
The EIA reported that US crude oil inventories increased by 6.8 MMbbls (million barrels) to 418.3 MMbbls on January 19–26, 2018.
Are US Crude Oil Rigs Impacting Crude Oil Prices?
US crude oil rigs fell by five or 0.7% to 742 between December 29, 2017, and January 5, 2018. The rigs were near an eight-week low.
US Crude Oil Rigs Could Impact Crude Oil Prices in 2018
Baker Hughes released its US crude oil rig count report on December 29. It reported that US crude oil rigs were flat at 747 on December 22–29, 2017.
US Gasoline’s Demand Trend Is Changing
The EIA estimates that four-week average US gasoline demand fell by 21,000 bpd (barrels per day) to 9.1 MMbpd on December 1–8, 2017.
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.
US Natural Gas Inventories Could Help Natural Gas Futures
The EIA reported that US natural gas inventories rose by 65 Bcf (billion cubic feet) to 3,775 Bcf on October 20–27, 2017.
Massive Fall in US Gasoline Inventories Drove Gasoline Futures
The EIA reported that US gasoline inventories fell by 5,465,000 barrels or 2.5% to 216.8 MMbbls (million barrels) on October 13–20, 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.
Cushing Inventories Are above Their 5-Year Average
Cushing crude oil inventories rose for the sixth consecutive week. Any rise in Cushing inventories is bearish for crude oil (USO) (USL) (SCO) prices.
Are US Gasoline Inventories a Pain for Crude Oil Bulls?
The EIA (U.S. Energy Information Administration) estimates that US gasoline inventories rose by 1.6 MMbbls to 218.9 MMbbls on September 22–29, 2017.
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.
Tracking India’s Crude Oil Imports and Demand
It’s estimated that India’s crude oil imports rose 210,000 bpd to 4.4 MMbpd (million barrels per day) in August 2017—a 5% month-over-month rise.
Cushing Crude Oil Inventories Rose for the Fourth Week
Cushing crude oil inventories rose on September 15–22, 2017. A rise in Cushing crude oil inventories is bearish for crude oil (UWT) (DWT) (USO) prices.
US Crude Oil Production Near 4-Week High: Another Bearish Factor
The EIA (U.S. Energy Information Administration) estimates that US crude oil production rose by 157,000 bpd (barrels per day), or 1.7%, to 9,510,000 bpd between September 8, 2017, and September 15, 2017.
US Gasoline Demand Could Fall in 2018
The EIA estimates that weekly US gasoline demand rose by 456,000 bpd (barrels per day) to 9.6 MMbpd (million barrels per day) on September 1–8, 2017.
Basic Energy Services: The Only Declining Oilfield Services Stock
In the week starting September 11, Basic Energy Services (BAS) fell from $15.66 to $14.98—a decrease of ~4%.
Why September Gasoline Futures Hit a 2-Year High
September gasoline futures contracts rose 4% and closed at $1.78 per gallon on August 29, 2017—the highest settlement in more than two years.
How Baker Hughes Benefits from Its Latest Merger
According to GE’s management, the cost synergies from the merger are expected to add $0.04 to GE’s earnings by 2018 and $0.08 by 2020.
US Dollar down Almost 12% since January 2017
The US Dollar Index fell 0.36% to 92.96 on August 11. It fell ~0.5% last week. The US dollar fell due to the following reasons.…
Analyzing US Crude Oil and Gasoline Inventories
The API estimates that US gasoline inventories rose by 1.5 MMbbls (million barrels) on July 28–August 4, 2017.
What Was Schlumberger’s 7-Day Stock Price Forecast on August 4?
On August 4, 2017, Schlumberger’s (SLB) implied volatility was 17.9%.
Weatherford’s 7-Day Stock Price Forecast on August 4
Weatherford stock will likely close between $4.67 and $4.03 in the next seven days—based on Weatherford International’s implied volatility.
US Dollar Is near a 13-Month Low: What’s Next?
The US dollar hit 93.68 on July 21, 2017—the lowest level in 13 months. The US dollar has fallen more than 8% in 2017.