|Bid||39.91 x 100|
|Ask||39.92 x 3100|
|Day's Range||39.88 - 40.84|
|52 Week Range||33.70 - 42.87|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.44%|
In the week ending April 13, US crude oil inventories fell by 1.1 MMbbls (million barrels) to ~427.6 MMbbls. The market expected a fall of 0.5 MMbbls in the EIA’s data on April 18. On the same day, US crude oil June futures rose 2.9%.
Baker Hughes, a GE Company (BHGE), released its 1Q18 financial results on April 20. On a combined business basis, from 1Q17 to 1Q18, Baker Hughes’s Oilfield Services segment saw 12% higher revenues, followed by the Digital Solutions (4.4% revenue up). Baker Hughes’s Oilfield Equipment and Turbomachinery & Process Solutions segments witnessed a revenue decline (7.3% and 11.2% revenue fall) YoY (year-over-year) in 1Q18. Baker Hughes’s segment-wise operating income
Schlumberger (SLB) released its 1Q18 financial results on April 20. For more about SLB’s 1Q18 earnings, read Market Realist’s Schlumberger Reports 1Q18 Earnings, Beats Estimates.
The Energy Select Sector SPDR (NYSEArca: XLE), the largest equity-based energy ETF, jumped by about 4% last week in what is perhaps the latest sign that the energy sector rebound is proving legitimate. ...
In this part, we’ll discuss analysts’ recommendations and target price revisions for offshore drilling (IYE) stocks in week 15 (week ending April 13, 2018).
PointLogic, a market intelligence company, estimates that US dry natural gas production fell 0.6% to 79.6 Bcf (billion cubic feet) per day on April 12–18, 2018. However, production increased 11% or by 7.9 Bcf per day year-over-year.
In this article, we’ll look at Wall Street analysts’ forecasts for Halliburton (HAL) before its 1Q18 earnings. Analysts’ ratings for Halliburton
Energy stocks and the Energy Select Sector SPDR (XLE) , the largest equity-based energy exchange traded fund, are in rally mode. For its part, XLE is up nearly 7% over the past week, indicating that the fund is taking advantage of some favorable seasonality for the energy sector. Top holdings include well-known names such as Exxon Mobil (XOM), Chevron Corp ( CVX ), and ConocoPhilips (COP) .
The United States Oil Fund (USO) , which tracks West Texas Intermediate crude oil futures, is up more than 9% over the past month while the Energy Select Sector SPDR (XLE) , the largest equity-based energy exchange traded fund, is higher by “just” 6.7% over that same period. Market observers and analysts argue that U.S. energy stocks are in a position to outperform broader equity markets this year, even if oil prices don’t move higher. The energy industry has grown more efficient after cutting costs in response to the plunge in crude oil prices in previous years, so they are now in a better position to improve revenue at lower oil prices.
In the week ending April 6, 2018, US crude oil inventories rose by 3.3 MMbbls (million barrels) to ~428.6 MMbbls. The market expected a fall of 0.6 MMbbls in the EIA’s data on April 11, 2018. On the same day, US crude oil May futures rose 2%. Rising geopolitical tensions in the Middle East pushed oil prices higher despite the bearish inventory data.
From 4Q16 to 4Q17, Baker Hughes, a GE Company’s (BHGE), Oilfield Services segment saw 10% higher revenues, followed by Digital Solutions (up 4.3%). On the other hand, its Oilfield Equipment and Turbomachinery & Process Solutions segments witnessed revenue decline (21% and 14% revenue falls, respectively).
The United States Oil Fund (NYSEArca: USO), which tracks West Texas Intermediate crude oil futures, is up 5% over the past week and nearly 9% over the past month. The Energy Select Sector SPDR (NYSEArca: ...
Schlumberger’s Production group witnessed the highest revenue growth of ~40% in 4Q17 compared to 4Q16, followed by the Drilling (8.3% rise) and Cameron (5% increase) groups. The Reservoir Characterization group’s revenue fell 2.3% during the same period. Schlumberger accounts for 6.5% of the iShares US Energy ETF (IYE). The Oil & Gas Equipment & Services sector accounts for 12.8% of IYE. IYE remained unchanged in the past year compared to a 15% decline in Schlumberger’s stock price during this period. Operating margin analysis
PointLogic, a market intelligence company, estimates that US dry natural gas production rose 0.3% to 80.1 Bcf per day on April 5–-11, 2018. Production also increased 11.2% or by 8.1 Bcf per day from a year ago.
Schlumberger’s (SLB) management thinks that the crude oil market sentiment, reflected through energy producers’ capex in North America and the rise in crude oil’s price, has been a positive catalyst for OFS (oilfield equipment and services) companies. In the 4Q17 earnings call, Schlumberger’s chairman and CEO, Paal Kibsgaard, said, “after a full year of waiting, the oil market is now substantially rebalanced. Emphasizing Schlumberger’s growth prospect, Kibsgaard said, “From the Schlumberger side, we expect 2018 to be another year of strong growth in North America land, driven by further market share gains in both hydraulic fracturing and drilling as we deploy another 1 million horsepower and continue the capacity ramp up of our currently sold out rotary steerables and drillbit technologies.” Schlumberger accounts for 6.5% of the iShares US Energy ETF (IYE).
In the previous week, Rowan Companies (RDC) announced that its rig, Rowan Viking, secured a five-well contract with Shell UK (RDS.A) for work in the North Sea. The North Sea is one of the most vibrant segments in the offshore drilling (IYE) market. Rowan Viking is an N-class ultra-harsh environment jack-up rig. The contract is expected to commence in June 2018. The contract will continue for ~100 days. The company hasn’t disclosed the day rate for the new contract. Currently, Rowan Viking is working in Norway at a day rate of $219,000. Backlog
In the week ending March 30, 2018, US crude oil inventories fell by 4.6 MMbbls (million barrels) to ~425.3 MMbbls. The market expected a rise by 1.4 MMbbls in the EIA’s data on April 4, 2018. On the same day, US crude oil May futures fell 0.2%. Rising US crude oil production, which we discussed in the previous part, could be behind the fall.
Energy stocks and the Energy Select Sector SPDR (NYSEArca: XLE), the largest equity-based energy ETF, followed the broader market lower last Friday, but last week was still solid for the downtrodden energy ...
The Energy Select Sector SPDR (NYSEArca: XLE), the largest equity-based energy ETF, had a rough first quarter as highlighted by a loss of 8%. In other words, energy was one of the worst-performing sectors ...
The Energy Select Sector SPDR (NYSEArca: XLE), the largest equity-based energy ETF, is down more than 7% year-to-date, making it one of 2018’s worst-performing energy ETFs. That after energy ranked as ...