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Jan 15, 2021

After a Tough Year, Oil Services Companies are Set to Report Earnings Results

The oil services industry got hit as hard as any during the first quarter of 2020. Many of the stocks fell over 50%. The stocks have since rebounded and a number of them are trading at or near the same levels they were at before the meltdown.

Three of the biggest companies in the industry will report earnings next week and all three are expected to see significant declines in their EPS compared to 2019.

Halliburton (HAL) is scheduled to report on January 19, Baker Hughes (BKR) will report on January 21, and Schlumberger (SLB) will report fourth quarter results on January 22.

If you look at the weekly charts of all three stocks, all three are in overbought territory based on their 10-week RSIs and the weekly stochastic indicators. The stocks rallied off the March lows, dropped back down in the fall and have rallied again since October. The questions is, can the stocks keep the rally going with earnings expected to be down compared to last year’s results?

I put together the following table to show where the EPS estimates are for each company and how that compares to Q4 2019 and to the third quarter. As you can see, Baker Hughes is expected to see a pretty big jump from quarter to quarter, but it’s still expected to report a decline of 40.7% compared to last year.

Halliburton is expected to see a 36.4% increase in EPS on a quarter over quarter basis, but a 53% drop compared to the same time period of 2019. Schlumberger is expected to see a small decline on a quarter over quarter basis and a 56.4% decline compared to Q4 2019.

Tickeron’s AI Platform has Baker Hughes rated as a “sell”. Halliburton is rated as a “buy” and Schlumberger is rated as a “strong buy”. On the fundamental analysis screener, each of the companies gets three poor readings. Baker Hughes and Schlumberger each get two positive readings, both being the Outlook Ratings and the Valuation Ratings. Halliburton doesn’t have any positive readings. All three stocks have poor SMR Ratings and all three get a 100 in the Profit vs. Risk Rating. That’s the worst score a company can get.

The stocks fare much better on the technical analysis screener. Baker Hughes has four bullish signals and one bearish signal currently active. Halliburton has four bullish signals and two bearish signals. Schlumberger has two bullish signals and one bearish signal. The areas where we see a consensus are bullish signals for all three stocks from the MACD indicators and the Momentum indicators. All three received bearish signals from the Bollinger Bands within the past five days.

It will be interesting to see how investors react to the earnings reports after rallying so sharply over the last few months. For the complete analysis from Tickeron on how the three stocks compare to one another and other stocks, continue reading.

Related Ticker: OIH

OIH's Stochastic Oscillator remains in overbought zone for 2 days

Expect a price pull-back in the near future.

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 50-day moving average for OIH moved below the 200-day moving average on January 18, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where OIH declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for OIH entered a downward trend on January 26, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where OIH's RSI Indicator exited the oversold zone, of 33 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on February 15, 2024. You may want to consider a long position or call options on OIH as a result. In of 81 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for OIH just turned positive on February 15, 2024. Looking at past instances where OIH's MACD turned positive, the stock continued to rise in of 37 cases over the following month. The odds of a continued upward trend are .

OIH moved above its 50-day moving average on February 21, 2024 date and that indicates a change from a downward trend to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where OIH advanced for three days, in of 304 cases, the price rose further within the following month. The odds of a continued upward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

Notable companies

The most notable companies in this group are Schlumberger Limited (NYSE:SLB), Halliburton Company (NYSE:HAL), Valaris Limited (NYSE:VAL), Transocean Ltd (NYSE:RIG).

Industry description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS® US Listed Oil Services 25 Index. The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The index includes common stocks and depositary receipts of U.S. exchange-listed companies in the oil services segment. Such companies may include small- and medium-capitalization companies and foreign companies that are listed on a U.S. exchange. The fund is non-diversified.

Market Cap

The average market capitalization across the VanEck Oil Services ETF ETF is 12.74B. The market cap for tickers in the group ranges from 676.17M to 70.22B. SLB holds the highest valuation in this group at 70.22B. The lowest valued company is CLB at 676.17M.

High and low price notable news

The average weekly price growth across all stocks in the VanEck Oil Services ETF ETF was 4%. For the same ETF, the average monthly price growth was 2%, and the average quarterly price growth was -9%. WTTR experienced the highest price growth at 19%, while RIG experienced the biggest fall at -6%.

Volume

The average weekly volume growth across all stocks in the VanEck Oil Services ETF ETF was 7%. For the same stocks of the ETF, the average monthly volume growth was -7% and the average quarterly volume growth was 58%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 56
P/E Growth Rating: 80
Price Growth Rating: 57
SMR Rating: 58
Profit Risk Rating: 74
Seasonality Score: -33 (-100 ... +100)
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OIH and

Correlation & Price change

A.I.dvisor indicates that over the last year, OIH has been closely correlated with IEZ. These tickers have moved in lockstep 100% of the time. This A.I.-generated data suggests there is a high statistical probability that if OIH jumps, then IEZ could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To OIH
1D Price
Change %
OIH100%
+1.36%
IEZ - OIH
100%
Closely correlated
+1.55%
XES - OIH
99%
Closely correlated
+1.19%
PXJ - OIH
96%
Closely correlated
+1.25%
PXI - OIH
93%
Closely correlated
+2.28%
PSCE - OIH
93%
Closely correlated
+1.48%
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