Russia-Saudi Output Clashes, Goldman Forecast Cuts Shake The Market: 5 Oil Services Stocks That Are Weathering the Storm
Portfolio Pulse from Piero Cingari
Oil prices tumble amid concerns of a potential production war between Russia and Saudi Arabia, and sluggish Chinese demand recovery. Goldman Sachs revises its December 2023 Brent forecast downward from $95 to $86 per barrel. Oil services stocks, such as WHD, LBRT, RES, OII, and PUMP, outperform oil E&Ps.
June 12, 2023 | 4:51 pm
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POSITIVE IMPACT
Liberty Energy (LBRT) is among the best-performing oil services stocks in June, with a 15.3% gain, and is also one of the most undervalued stocks based on 12-month forward P/E ratio.
The article highlights Liberty Energy (LBRT) as one of the best-performing oil services stocks in June, with a 15.3% gain. Additionally, LBRT is listed as one of the most undervalued stocks based on 12-month forward P/E ratio. This strong performance and undervaluation suggest a short-term positive impact on LBRT's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
VanEck Oil Services ETF (OIH) gains relative to SPDR S&P Oil & Gas Exploration & Production (XOP), indicating better performance of oil services stocks.
The article highlights that oil services stocks have been performing better than oil production and exploration stocks. This is evident from the relative gain in the VanEck Oil Services ETF (OIH) over the SPDR S&P Oil & Gas Exploration & Production (XOP). As a result, OIH is likely to experience a short-term positive impact.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Oceaneering International, Inc. (OII) is among the best-performing oil services stocks in June, with a 13.7% gain.
The article highlights Oceaneering International, Inc. (OII) as one of the best-performing oil services stocks in June, with a 13.7% gain. This strong performance indicates that OII is weathering the storm in the oil market and is likely to experience a short-term positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
ProPetro Holding Corp. (PUMP) is among the best-performing oil services stocks in June, with a 13% gain, and is also one of the most undervalued stocks based on 12-month forward P/E ratio.
The article highlights ProPetro Holding Corp. (PUMP) as one of the best-performing oil services stocks in June, with a 13% gain. Additionally, PUMP is listed as one of the most undervalued stocks based on 12-month forward P/E ratio. This strong performance and undervaluation suggest a short-term positive impact on PUMP's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
RPC, Inc. (RES) is among the best-performing oil services stocks in June, with a 14.7% gain.
The article lists RPC, Inc. (RES) as one of the best-performing oil services stocks in June, with a 14.7% gain. This strong performance indicates that RES is weathering the storm in the oil market and is likely to experience a short-term positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Cactus Inc. (WHD) is among the best-performing oil services stocks in June, with a 27.2% gain.
The article lists Cactus Inc. (WHD) as one of the best-performing oil services stocks in June, with a 27.2% gain. This strong performance indicates that WHD is weathering the storm in the oil market and is likely to experience a short-term positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90