US oilfield stocks fall as Saudi Arabia orders Aramco to ditch plan to expand oil production
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SLB (SLB), Halliburton (HAL) Decline in Sympathy with European and Saudi Peers
January 30, 2024 8:43 AM ESTSLB (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... MoreIncreasing unusual put option volume: BKR SABR IRBT ICLN UGI RUM DWAC
January 30, 2024 4:13 AM ESTIncreasing unusual put option volume: BKR SABR IRBT ICLN UGI RUM DWAC
... MoreWolfe Research Downgrades Baker Hughes (BKR) to Peerperform
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
Stifel's top oil stocks to own in 2024
January 28, 2024 8:00 PM ESTAs 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
