US oilfield stocks fall as Saudi Arabia orders Aramco to ditch plan to expand oil production
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January 30, 2024 8:43 AM EST
SLB (NYSE: SLB), Halliburton (NYSE: HAL) Decline in Sympathy with European and Saudi Stocks
Weakness in drilling services stocks was tied to news Saudi Aramco abandoned plans to boost its output capacity .The announcement was seen...
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January 30, 2024 4:13 AM EST
Increasing unusual put option volume: BKR SABR IRBT ICLN UGI RUM DWAC
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January 29, 2024 3:31 AM EST
(Updated - January 29, 2024 4:41 AM EST)
Wolfe Research analyst Sam Margolin downgraded Baker Hughes (NASDAQ: BKR) from Outperform to Peerperform.
The analyst comments "2023 was a record year of orders in the Industrial/Energy Technology (IET) segment, with pace driven by robust LNG... More
January 28, 2024 8:00 PM EST
As we enter 2024, Stifel analysts express confidence in the risk/reward dynamics of oil service stocks. They emphasize that a substantial 95% of the stocks in their coverage universe are currently trading below the five-year median forward EV/EBITDA multiple.
After a stellar performance in 2022, oil service stocks faced challenges in 2023, with the OSX maintaining stability while the XLE experienced a 4.1% decline, and the S&P 500 increased by 24.2%. Large caps and offshore entities led the way, but U.S.-leveraged firms experienced multiple compressions due to a decline in activity.
Despite the headwinds of 2023, TTI (+30.6%), BKR (+15.7%), and LBRT (+13.3%) delivered... More
