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Halliburton’s second-quarter adjusted earnings exceeded analysts' expectations, leading to its shares climbing +1.6% in premarket trading Monday.
The oil-field services company reported adjusted earnings of 35 cents per share, which surpassed the 30 cents per share estimated by analysts surveyed by FactSet.
However, total revenue came in at $5.93 billion, slightly behind the FactSet consensus of $5.97 billion.
The company’s revenue from North America was $3.3 billion, marking a +2% increase over the first quarter, thanks in part to increased drilling activity in the Gulf of Mexico.International revenue of $2.6 billion came in + 6% higher from the first quarter, on the back of improvement in activity in the Middle East/Asias, as indicated by the company.
Oil service provider Schlumberger (NYSE: SLB) is scheduled to release its second-quarter earnings results on July 19 and analysts expect the company to report earnings of $0.35 per share.Earnings were down by 21% in the first quarter compared to the first quarter of 2018.
In addition to the poor earnings results, the company’s management efficiency measurements are subpar.
Oil & gas equipment manufacturer Baker Hughes (NYSE: BHGE) has been trending lower in recent months, like many in the oil services industry.One thing that is different though is that a downward sloping trend channel has formed that seems to be defining the highs and lows within the overall trend.
If you connect the highs from March and April you get the upper rail of a downward sloping channel.
Oil equipment manufacturer National Oilwell Varco (NYSE: NOV) is scheduled to report first quarter earnings on Thursday, April 25.Analysts expect the company to report a loss of $0.01 per share for the quarter after reporting a loss of $0.21 per share in the first quarter of 2018.
The chart shows that the stock fell 8.39% on April 12 after it had moved in to overbought territory based on the 10-day RSI and the daily stochastic readings.
Oil industry equipment manufacturer Baker Hughes (NYSE: BHGE) has been trending higher since the end of December and a trend channel has formed during that rally.The indicators just made a bullish crossover on April 5.
The Tickeron AI Trend Prediction tool generated a bullish signal on April 4 and that signal calls for a gain of at least 2% over the next week.
McDermott stock tumbled more than -6% in pre-market trading Monday.
The offshore oil & gas-focused engineering and construction company’s adjusted loss per share of -$1.55 in the fourth quarter was way below Wall Street's earnings estimate of +17 cents per share.At $2.07 billion, the company’s quarterly revenue missed analysts’ estimate of $2.64 billion.
David Dickson, president and chief executive officer of McDermott, attributed the company's fourth quarter results to significant non-recurring charges, including a $2.2 billion goodwill impairment charge.
Billionaire hedge fund manager Steve Cohen said a bear market is coming within two years, adding to a chorus of voices who say the U.S. economy could falter by 2020.
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Houston, TX-based National Oilwell Varco Inc. is one of the global leaders in designing, manufacturing and selling of comprehensive systems, components, products and equipment used in oil and gas drilling and production worldwide.
After struggling through a difficult oil market downturn, the company in Q2 2018 not only posted positive numbers but also surpassed a majority of the analyst’s estimates quite comprehensively, thanks to the sustained progress in the oil market.
So as the company is about to publish its Q3 results, the investor community expects its performance to improve further, given the positive outlook given by the CFO in the previous quarterly call.
Here are three things to look for:
1) Look for rig technologies to lose some luster, largely owing to conversion of inventory into cash that has been slow to move during this prolonged downturn period (and also because of the industry hovering near its cyclical lows).
2) Look for wellbore technologies to mai