|Bid||0.0000 x 1000|
|Ask||0.0000 x 1100|
|Day's Range||23.7894 - 24.0100|
|52 Week Range||21.7000 - 29.8700|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
The number of active rigs was four less than the highest level in more than three years. The US oil rig count tends to follow US crude oil prices with a three to six-month lag.
Nabors Industries (NBR) released its second-quarter financial results on July 31 after the market closed. On August 1, the stock price reacted positively and rose 6.5% to $6.37 from the previous day’s close. The WTI crude oil (USO) price decreased 1.6% on August 1—compared to the previous day’s close. Check out all the data we have added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data as well as dividend info. Take a look!
Offshore drilling stocks had mixed returns in Week 30, which ended July 27. The best performer during the week was Seadrill (SDRL). Noble Corporation (NE) was the weakest performer among its peers.
Halliburton’s (HAL) stock price correlation with crude oil on July 20–27 was 0.22. So, Halliburton and crude oil prices had a moderately positive correlation in the past week, which could mean that the stock was impacted less by crude oil’s movement on a daily basis.
How Did the Market View Schlumberger Last Week? In the week ending July 27, Schlumberger’s (SLB) correlation with crude oil was 0.48. The relatively strong correlation implies that the stock closely tracked crude oil’s movements.
In the week ending July 27, Schlumberger (SLB) rose 1.4%. In comparison, the Energy Select Sector SPDR ETF (XLE), which tracks an index of US energy companies, increased 2.3% since July 20. SLB outperformed the VanEck Vectors Oil Services ETF (OIH), which tracks an index of 25 oilfield equipment and service (or OFS) companies, which rose 0.7%. The SPDR S&P 500 ETF (SPY) increased 0.6%, while the SPDR S&P Oil & Gas Equipment & Services ETF (XES) increased 1.3%. Schlumberger accounts for 0.39% of SPY.
Weatherford International (WFT) released its financial results for Q2 2018 on July 27 before market hours. On that day, WFT’s stock price reacted positively, rising 1.5% to $3.48 from the previous day’s close. This rise outperformed the 1.3% rise in the WTI crude oil (USO) price on July 27 over the previous day’s close. Better-than-expected earnings could have boosted WFT’s stock price on July 27.
Ensco’s (ESV) drilling expenses were $344 million in the second quarter—up from $291 million in the second quarter of 2017. The company’s drilling expenses rose mainly due to $47 million in costs associated with 11 Atwood Oceanics (ATW) rigs, the addition of ENSCO DS-10 into the active fleet, and $5 million in integration-related costs. Ensco expects its drilling expenses to decrease in the third quarter to $330 million.
Between July 19 and 26, 2018, major energy ETFs’ correlation with US crude oil September futures were as follows: the SPDR S&P Oil & Gas Exploration & Production ETF (XOP): 93.8% the Energy Select Sector SPDR ETF (XLE): 84.9% the VanEck Vectors Oil Services ETF (OIH): 62% the Alerian MLP ETF (AMLP): 44.9%
National Oilwell Varco (NOV) released its financial results for Q2 2018 on July 26 after the market closed. Its stock rose 0.5% that day to $42.52 compared to the closing price on July 25.
TechnipFMC (FTI) released its Q2 2018 financial results on July 25 after the market closed. On that day, FTI’s stock price reacted slightly negatively with a fall of 0.2% to $29.87 from the previous day’s close. The West Texas Intermediate (or WTI) crude oil price increased 1.1% on July 25 over the previous day’s close. Check out all the data we have added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data as well as dividend info. Take a look!
Ensco (ESV) stock had a really bad patch for three years. The stock fell almost 95% in 2015. The stock’s value fell 36% in 2016 and more than 39% in 2017. Ensco stock is finally trading in the green in 2018. As of July 24, Ensco has a YTD (year-to-date) return of 14.2%. The stock has risen 25% in the past year.
Schlumberger (SLB) released its second-quarter earnings on July 20. Its stock price reacted negatively immediately following the earnings release, falling 1.2% from the previous day to close at $66.09.
Baker Hughes, a GE company (BHGE) published its US natural gas rig count report on July 20. It reported that US natural gas rigs decreased by two to 187 from July 13 to July 20—the lowest level since June 29. However, rigs have increased by one (~0.5%) from a year ago.
Halliburton Company ( HAL) shares fell more than 8% on Monday after the oil services giant missed second quarter profit estimates. Cowen lowered its 2018 target on Halliburton on Tuesday morning, raising the odds for a multi-day selling event that reaches the 2017 low in the upper $30s. The decline follows a recent crude oil reversal that dropped the West Texas Intermediate (WTI) futures contract more than eight points into the mid-$60s.
The correlation between Weatherford International’s (WFT) stock price and crude oil’s price from April 17 to July 16 was 0.03. This represents a weak positive relationship between WFT’s stock and crude oil prices.
Weatherford International’s (WFT) one-year returns were -20.0% until July 17. In comparison, since July 18, 2017, the Energy Select Sector SPDR ETF (XLE) has increased ~15.0%. XLE tracks an index of US energy companies.
Between July 12 and 19, major energy ETFs’ correlation with US crude oil August futures was as follows: The SPDR S&P Oil & Gas Exploration & Production ETF’s (XOP) was 98.1%. The Energy Select Sector SPDR ETF’s (XLE) was 90.8%. The VanEck Vectors Oil Services ETF’s (OIH) was 75.3%. The Alerian MLP ETF’s (AMLP) was 68.7%.
ION Geophysical’s (IO) YTD (year-to-date) returns were 29.4% until July 19. In comparison, the Energy Select Sector SPDR ETF (XLE) has increased 4.0% YTD. XLE tracks an index of US energy companies in the S&P 500 Index. The VanEck Vectors Oil Services ETF (OIH) witnessed -1.6% YTD returns. OIH tracks an index of 25 oilfield equipment and services companies. ION Geophysical has outperformed XLE and OIH since the beginning of 2018.
The correlation between National Oilwell Varco’s (NOV) stock price and crude oil prices on April 16–July 16 was 0.52. The correlation shows that there’s a strong positive relationship between National Oilwell Varco stock and crude oil prices.
With oil prices recently giving back some gains, the VanEck Vectors Oil Service ETF (NYSEArca: OIH) is off more than 3% over the past week. The benchmark oil services exchange traded fund could face additional ...
Baker Hughes, a GE Company (BHGE), published its weekly US natural gas rig count report on July 13. Baker Hughes reported that US natural gas rigs rose by two to 189 on July 6–13—the highest level since June 15. The rigs have also increased by two or ~1.1% year-over-year.