23.80 -0.48 (-1.98%)
Pre-Market: 6:07AM EST
|Bid||23.68 x 800|
|Ask||23.81 x 1100|
|Day's Range||23.55 - 24.41|
|52 Week Range||23.51 - 35.00|
|Beta (3Y Monthly)||0.64|
|PE Ratio (TTM)||61.29|
|Earnings Date||Feb 14, 2017 - Feb 20, 2017|
|Forward Dividend & Yield||0.52 (2.14%)|
|1y Target Est||35.65|
As we discussed in the first part of this series, Helmerich & Payne (HP) has the lowest upside potential among the oilfield services stocks that we’re discussing in this series. Based on the mean target price, Helmerich & Payne has an upside potential of ~22% compared to an upside potential of more than 50% for Halliburton (HAL), TechnipFMC (FTI), Baker Hughes (BHGE), and Schlumberger (SLB)—based on their respective mean target prices. Among the 27 analysts surveyed by Reuters covering Helmerich & Payne, four rated it as a “strong buy,” six rated it as a “buy,” ten rated it as a “hold,” six rated it as a “sell,” and one rated it as a “strong sell.” The mean target price for Helmerich & Payne is $70.7, which implies an upside potential of ~22% from its current price.
So far, National Oilwell Varco (NOV) has outperformed its peers in 2018. The stock has fallen ~11% year-to-date. In comparison, Schlumberger (SLB), Haliburton (HAL), and TechnipFMC (FTI) have fallen ~32%, 35%, and 26%, respectively, during the same period. Among the 29 analysts surveyed by Reuters covering National Oilwell Varco, three analysts rated it as a “strong buy,” seven rated it as a “buy,” 17 rated it as a “hold,” and two rated it as a “sell.”
In this series, we’re discussing analysts’ recommendations for oilfield services stocks. So far, we’ve discussed analysts’ recommendations for Halliburton (HAL), TechnipFMC (FTI), and Baker Hughes (BHGE). Among the 36 analysts surveyed by Reuters covering Schlumberger (SLB), seven rated it as a “strong buy,” 15 rated it as a “buy,” 13 rated it as a “hold,” and one rated it as a “sell.”
On November 13, Baker Hughes (BHGE) and General Electric (GE) announced agreements aimed at accelerating the planned separation of the two companies. General Electric announced a secondary offering of 92 million Baker Hughes common shares at a price of $23 per share. Baker Hughes will also repurchase 65 million shares from General Electric. The agreements will bring down General Electric’s stake in Baker Hughes from the current 62.5% to over 50%.
Among the analysts surveyed by Reuters covering TechnipFMC (FTI), 72% rated it as a “buy.” TechnipFMC has the most “buy” ratings after Halliburton (HAL), which we discussed in the previous part of this series. Among the analysts, 16% of the analysts rated TechnipFMC as a “hold,” while 12% rated it as a “sell.” The mean target price for TechnipFMC is $35.7, which implies an upside potential of 52% from its current price of $23.5.
Among the oilfield services stocks that we’re discussing in this series, Halliburton (HAL) got the most “buy” recommendations from the analysts surveyed by Reuters. Among the 36 analysts covering Halliburton, 13 rated it as a “strong buy,” 17 rated it as a “buy,” five rated it as a “hold,” and one rated it as a “sell.” The mean target price for Halliburton is $49.2, which implies a massive upside potential of 52% from its current price of $32.3. The above graph shows how analysts’ rating and mean target price for Halliburton changed over 12 months.
Oilfield services stocks have mainly been weak in 2018. The stocks fell significantly in the past month. The VanEck Vectors Oil Services ETF (OIH) has hit a 15-year low. Top oilfield services stocks Schlumberger (SLB), Haliburton (HAL), and TechnipFMC (FTI) hit new 52-week lows on November 13. The three stocks have fallen 32%, 35%, and 26%, respectively, YTD (year-to-date).
TechnipFMC (FTI) signs a Surface Technologies Frame deal with Chevron for catering to the latter's North America operations.
TechnipFMC (FTI) (FTI) (ISIN:GB00BDSFG982) has signed a Surface Technologies Frame Agreement with Chevron. This 5-year agreement covers the exclusive supply of surface wellhead equipment and service in the United States and Canada. Richard Alabaster, President of TechnipFMC’s Surface Technologies business, commented: “We are very pleased to extend our partnership with Chevron and to support their development program in North America.
NEW YORK, Nov. 08, 2018 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
TechnipFMC (FTI) (FTI) (ISIN:GB00BDSFG982) has signed a major(1) Engineering, Procurement, and Construction (EPC) contract by Middle East Oil Refinery (MIDOR) for the modernization and expansion of their existing complex near Alexandria, Egypt. This EPC contract covers the debottlenecking of existing units as well as the delivery of new units including a Crude Distillation Unit, a Vacuum Distillation Unit, a hydrogen production facility based on our steam reforming technology, as well as various process units, interconnecting, offsites and utilities. Nello Uccelletti, President of TechnipFMC’s Onshore/Offshore business, stated: “This award demonstrates our long-standing relationship with MIDOR which started in 2001, with the delivery of their grassroot refinery.
On an encouraging note, TechnipFMC's (FTI) total backlog at the end of the third quarter is around $15.2 billion, reflecting year-over-year growth of 9%.
National Oilwell Varco (NOV) reported its third-quarter earnings on October 25 after the markets closed. The company’s reported EPS of $0.00 missed analysts’ estimates of $0.12 for the quarter. NOV’s EPS in Q3 2017 was -$0.07. National Oilwell Varco also missed its Q3 revenue estimates by 2.5%. The stock fell 5.4% in after-hours trading.
TechnipFMC (FTI) reported its third-quarter earnings on October 24 after the markets closed. The company’s revenue for the quarter fell 24.1% YoY. However, it reported a 13.1% YoY rise in its net income. TechnipFMC reported EPS (earnings per share) of $0.30 for the quarter, up 15.4% YoY. The company’s adjusted EPS for the quarter were $0.31. TechnipFMC stock was up 4.6% in pre-market trading today.
FMC Technologies (FTI) delivered earnings and revenue surprises of -18.42% and -2.49%, respectively, for the quarter ended September 2018. Do the numbers hold clues to what lies ahead for the stock?
On a per-share basis, the London-based company said it had net income of 30 cents. Earnings, adjusted for one-time gains and costs, came to 31 cents per share. The results fell short of Wall Street expectations. ...
LONDON & PARIS & HOUSTON-- -- Net income of $136.9 million and adjusted EBITDA of $430.5 million Inbound orders of $3.6 billion; Subsea orders exceeded revenue for the fourth consecutive quarter Backlog increased year-over-year in all segments Updated 2018 guidance reflects strong execution in Onshore/Offshore and revised market outlook for Surface Technologies Regulatory News: TechnipFMC plc today ...
After Halliburton’s (HAL) third-quarter earnings release, Credit Suisse cut its target price on the stock from $51 to $46. RBC cut its target price for HAL from $60 to $56. The graph above shows how analysts’ recommendations and mean target prices for Halliburton have changed in the last 12 months.
Halliburton’s (HAL) Completion and Production segment’s operating income fell 8% sequentially in the third quarter. The segment’s results were negatively affected by lower pricing and higher maintenance expenses in its US pressure-pumping business.
TechnipFMC (FTI) (FTI) (ISIN:GB00BDSFG982) has been awarded a contract by an affiliate of ExxonMobil Corporation (XOM) for the engineering of the subsea system for the proposed Liza Phase 2 project. Following engineering and subject to requisite government approvals, project sanction and an authorization to proceed with the next phase, TechnipFMC will then manufacture and deliver the subsea equipment. “We are very pleased that ExxonMobil has selected TechnipFMC to commence engineering for the Liza Phase 2 subsea equipment.