|Bid||25.30 x 1200|
|Ask||0.00 x 4000|
|Day's Range||30.89 - 31.39|
|52 Week Range||24.53 - 35.00|
|PE Ratio (TTM)||87.15|
|Earnings Date||Feb 14, 2017 - Feb 20, 2017|
|Forward Dividend & Yield||0.52 (1.75%)|
|1y Target Est||36.84|
Based on median target prices from analysts surveyed by Reuters, Schlumberger (SLB), Halliburton (HAL), Baker Hughes (BHGE), and TechnipFMC (FTI) have an upside potential of 27%, 36%, 14%, and 23%, respectively. On September 13, Macquarie cut its target price for Halliburton from $45 to $43. On September 11, Stifel started coverage on Halliburton with a “buy” rating. Stifel has given Halliburton a target price of $45. On the same day, Stifel started coverage on Schlumberger and gave it a “hold” rating with a target price of $69.
Halliburton (HAL) is trading at a forward EV-to-EBITDA multiple of ~8.6x—lower than Schlumberger (SLB) and Baker Hughes’s (BHGE) forward EV-to-EBITDA multiples. Schlumberger and Baker Hughes are trading at multiples of ~12.1x and 10.6x, respectively.
So far in 2018, oilfield services stocks have fallen broadly. The VanEck Vectors Oil Services ETF (OIH) has fallen ~9% YTD (year-to-date). Schlumberger (SLB), Halliburton (HLB), and TechnipFMC (FTI) have fallen 13%, 23%, and 6%, respectively, in 2018. Baker Hughes (BHGE) has risen ~1%. Together, the four companies form ~43% of OIH.
The number of Halliburton (HAL) shares shorted fell from ~16.7 million on August 15 to ~14.4 million on August 31—a fall of ~13.4%. According to data released on September 12, the short interest in Halliburton as a percentage of its float is currently ~1.6%. Halliburton’s short interest ratio is 2x, which shows that it will take about two days to cover all of the open short positions in Halliburton.
Curently, Halliburton’s (HAL) DE (debt-to-equity) ratio is 1.2x—the highest among the four companies that we’re comparing—Halliburton, Baker Hughes (BHGE), Schlumberger (SLB), and TechnipFMC (FTI). Baker Hughes, Schlumberger, and TechnipFMC have DE ratios of 0.2x, 0.5x, and 0.3x, respectively.
Halliburton’s (HAL) expected capital expenditure for 2018 is $2.0 billion, which is ~50% higher than its capital expenditure in 2017. In the first half of 2018, the company spent $1.1 billion on growth projects. To learn more, read Understanding Halliburton’s Capital Expenditure Focus.
In the first half of 2018, Halliburton’s (HAL) revenues grew 29% YoY (year-over-year)—compared to Schlumberger’s (SLB) 12% revenue growth during the same period. In comparison, TechnipFMC’s (FTI) revenues fell 16% YoY in the first half of 2018. Baker Hughes’ (BHGE) revenues increased 79% YoY due to the merger of General Electric’s (GE) oil and gas business and Baker Hughes—completed in July 2017. In the first half of 2018, Baker Hughes’ revenues grew 2% YoY on a combined business basis.
The global E&P (exploration and production) spend fell significantly in 2015 and 2016. The investments in E&P need to grow to meet the global demand for oil and gas. Increased E&P spend should bode well for oilfield services companies serving the sector. Between 2019 and 2021, the global E&P spend, including capital and operating expenditures, might grow at a compound annual growth rate of 9%.
Schlumberger (SLB) provides a range of products and services for hydrocarbon recovery that optimizes reservoir performance. The company operates through four segments—Reservoir Characterization, Drilling, Production, and Cameron. The Reservoir Characterization segment provides technologies involved in finding and defining hydrocarbon resources.
Swiss prosecutors can hand over bank account information to France in a case linked to an international investigation into alleged bribery and corruption involving Unaoil, a Monaco-based energy consultancy. In court documents published this week, the Swiss Federal Criminal Court refused to block the Swiss attorney general's office (OAG) from cooperating with France's request for mutual legal assistance. France is among countries probing Unaoil's alleged role in funnelling kickbacks from multinational firms to foreign officials to win lucrative oil project contracts.
TechnipFMC (FTI) intends to execute the project awarded by Long Son Petrochemicals with the help of its offices in Houston, Rome and Kuala Lumpur.
TechnipFMC has been awarded by Long Son Petrochemicals Co., Ltd. , a large contract for the licensing, engineering, procurement, construction, commissioning and start-up of Vietnam’s first olefins plant on Long Son Island, Ba Ria-Vung Tau province, Vietnam.
The Vanguard Group, Dodge & Cox, and First Eagle Investment Management are the top three institutional investors in National Oilwell Varco (NOV). They own 10.5%, 8.2%, and 7.1%, respectively, of National Oilwell Varco’s outstanding shares. According to the latest filings, Dodge & Cox and First Eagle Investment Management sold net 1.0 million and 44,644 National Oilwell Varco shares, respectively, from their holdings. The Vanguard Group added net 0.4 million National Oilwell Varco shares in the second quarter.
Moody's Investors Service ("Moody's") has upgraded the ratings on two classes and affirmed the ratings on seven classes in Wachovia Bank Commercial Mortgage Trust 2007-C31, Commercial Mortgage ...
First Eagle Investment Management, the Vanguard Group, and Bpifrance Participations are the top three institutional investors in TechnipFMC (FTI). They own 7.6%, 6.1%, and 5.6%, respectively, of TechnipFMC’s outstanding shares. According to the latest filings, the Vanguard Group added net 0.3 million TechnipFMC shares to its holdings. First Eagle Investment Management sold net 0.2 million TechnipFMC shares in the second quarter.
The Vanguard Group, State Street Global Advisors, and BlackRock Institutional Trust Company are the top three institutional investors in Schlumberger (SLB). They own 7.8%, 4.8%, and 4.3%, respectively, of Schlumberger’s outstanding shares. According to the latest filings, the Vanguard Group and State Street Global Advisors added net 5.7 million and 1.4 million Schlumberger shares, respectively, to their holdings. BlackRock Institutional Trust Company sold net 3.7 million Schlumberger shares in the second quarter.
Houston and Galveston’s port district has officially become a net exporter of crude, according to a report published April 20 by the U.S. Energy Information Administration. Crude exports from the region passed up imports by 15,000 barrels per day back in April, according to the data.
On August 16, Jefferies raised its rating for TechnipFMC (FTI) from “hold” to “buy.” It also raised its price target for FTI from $30 to $37. On August 2, Barclays raised its price target for TechnipFMC from $32 to $35. On July 30, BMO raised FTI’s price target from $34 to $35.
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NEW YORK, Aug. 10, 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 American ...
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