|Bid||13.73 x 800|
|Ask||13.74 x 800|
|Day's Range||13.49 - 13.80|
|52 Week Range||9.12 - 17.20|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 2, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||13.89|
Research reports have been issued by WallStEquities.com on four Oil and Gas Equipment and Services stocks, namely: Liberty Oilfield Services Inc. (LBRT), McDermott International Inc. (NYSE: MDR), NOW Inc. (NYSE: DNOW), and Precision Drilling Corp. (NYSE: PDS).
Of the analysts tracking NOW (DNOW) on May 23, ~36% recommended “buy” or some equivalent, 64% recommended “hold,” and none recommended “sell.” DNOW comprises 0.09% of the iShares Core S&P Mid-Cap ETF (IJH), which provides exposure to the oil and gas equipment and service segment. Between February 23 and May 23, the percentage of analysts recommending “buy” or some equivalent for DNOW rose from 33% to 36%, while “hold” recommendations fell. Analysts’ mean target price for DNOW on May 23 was $14.10, implying a ~3% downside based on its price of ~$14.60.
On May 23, short interest in NOW (DNOW) as a percentage of its float had risen 145% YoY (year-over-year) to 16.3% from 6.7%, meaning investors’ negative bets rose significantly. DNOW’s stock price fell ~17% in that time period.
Between January 1 and May 23, NOW’s (DNOW) correlation with crude oil was 0.38 and the VanEck Vectors Oil Services ETF’s (OIH) correlation was 0.62, lower than their correlation over the year ended May 23. WTI crude oil prices have risen significantly since the end of June 2017.
Between May 2, when NOW (DNOW) released its first-quarter results, and May 23, its implied volatility fell from 43.7% to 39.1% and its stock price rose ~5.4%. DNOW comprises 0.18% of the iShares S&P Mid-Cap 400 Value ETF (IJJ), which provides exposure to US mid-cap stocks that are considered undervalued by the market. The energy sector accounts for 11.2% of IJJ, which has risen ~6% since May 2. NOW’s seven-day stock price forecast
On May 23, NOW (DNOW) had returned -17.6% over the last year. Meanwhile, the Energy Select Sector SPDR ETF (XLE), which tracks an index of S&P 500 energy companies, had returned 15%, and the VanEck Vectors Oil Services ETF (OIH), which tracks an index of 25 oilfield equipment and service companies, had returned 4.2%, outperforming DNOW. DNOW also underperformed the SPDR S&P 500 ETF (SPY), which had returned 13.6%. Crude oil prices and rigs
NOW Inc. (DNOW) has scheduled a conference call to discuss the results for the second quarter of 2018 on Thursday, August 2, 2018 at 8:00 am (US Central Time). Financial results for the second quarter ending on June 30, 2018 are expected to be released that morning before the market opens. The call will be broadcast through the Investor Relations link on NOW Inc.’s web site at ir.distributionnow.com on a listen-only basis. NOW Inc. is one of the largest distributors to energy and industrial markets on a worldwide basis, with a legacy of over 150 years.
Only two sell-side analysts track ION Geophysical (IO), as surveyed by Reuters. Approximately 67% of the Wall Street analysts tracking Key Energy Services (KEG) have recommended a “buy” or equivalent as of May 11. Analysts’ consensus target price for KEG was $17.10 as of May 11.
In this part of the series, we’ll analyze the correlation between the stock prices of Key Energy Services (KEG), ION Geophysical (IO), NOW (DNOW), Oil States International (OIS), and Tenaris (TS) and the price of WTI (West Texas Intermediate) crude oil.
Short interest in Tenaris (TS) as a percentage of its float was 0.92% as of May 11 compared to 1.5% as of January 1. Since then, short interest in TS has decreased 38%. So investors’ negative bets on TS have decreased year-to-date. Since January 1, TS stock has risen 21%.
So far in 2018, many companies in the OFS (oilfield equipment and services) industry have had positive returns. In this series, we’ll analyze the top five companies in that industry by year-to-date stock market returns. However, our analysis excludes offshore drillers. We’ve selected companies in the OFS industry with market capitalizations of more than $100 million.
NEW YORK, May 11, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Ares ...
NOW Inc. (DNOW) announced today that it has replaced its existing senior secured credit facility and entered into a new senior secured credit facility with a syndicate of lenders, with Wells Fargo Bank, National Association serving as the administrative agent. The facility provides for a five-year $750 million global revolving credit facility, with potential to further increase the facility to $1.0 billion. The obligations are secured by substantially all the assets of NOW Inc. We can elect to pay interest at LIBOR plus an applicable margin, or at a base rate plus an applicable margin.
Company executives, directors and large existing shareholders ramping up shares in a particular company could signal higher confidence in the future outlook of the business. Generally, when insiders buy, theirRead More...
NOW Inc. has scheduled a conference call to discuss the results for the first quarter of 2018 on Wednesday, May 2, 2018 at 8:00 am . Financial results for the first quarter ending on March 31, 2018 are expected to be released that morning before the market opens.