land service companys
Posted: Mon Nov 18, 2013 11:52 am
pds, pten and hp don't appear to be affected by this---yet?
Pause Needed for Some Oilfield-Service Stocks -- Market Talk 11/18 08:55 AM
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9:55 EST - Onshore-focused oil-service companies have seen strong stock gains of late, but Global Hunter Securities thinks it's time for a rest as it downgrades a quintet from buy, led by Halliburton (HAL:$55.12,00$-1.11,00-1.97%) . "While the land trade could work until February, when the brunt of E&P companies provide 2014 spending guidance, we think it is prudent to take some chips off the table." The investment bank believes expectations of double-digit increases in drilling spending and more than 20% Ebit growth "for the onshore-levered service stocks has set a high bar for the group to hit, particularly when pricing is unlikely to move back in their favor." As HAL drops 0.6%, Pioneer Energy (PES) sheds 5.1% and Key (KEG) falls 3.5%. (kevin.kingsbury@wsj.com)
Pause Needed for Some Oilfield-Service Stocks -- Market Talk 11/18 08:55 AM
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9:55 EST - Onshore-focused oil-service companies have seen strong stock gains of late, but Global Hunter Securities thinks it's time for a rest as it downgrades a quintet from buy, led by Halliburton (HAL:$55.12,00$-1.11,00-1.97%) . "While the land trade could work until February, when the brunt of E&P companies provide 2014 spending guidance, we think it is prudent to take some chips off the table." The investment bank believes expectations of double-digit increases in drilling spending and more than 20% Ebit growth "for the onshore-levered service stocks has set a high bar for the group to hit, particularly when pricing is unlikely to move back in their favor." As HAL drops 0.6%, Pioneer Energy (PES) sheds 5.1% and Key (KEG) falls 3.5%. (kevin.kingsbury@wsj.com)