Contract Drilling Stocks: Up +19.74% ($BORR, $DO, $HP...)
Industry Analysis: Contract Drilling Market
Overview
Swing Trader, Long Only: Valuation & Efficiency Model for Energy Sector (TA&FA) Annualized Return + 13%
Industry Contract Drilling +19.74% - 1M change
The Contract Drilling industry includes companies offering onshore and offshore drilling services to the energy sector on a contractual or per-fee basis. Major and independent oil and gas firms are the primary customers. Industry heavyweights like Helmerich & Payne, Inc., Transocean Ltd, and Patterson-UTI Energy, Inc. are notable players in the U.S. market. The industry recently experienced a surge of +19.74% in the last month.
Key Stocks: $BORR, $DO, $HP, $NBR, $NE, $PDS, $PTEN, $RIG, $SDRL
The Contract Drilling industry comprises various stocks. The group of tickers includes $BORR, $DO, $HP, $NBR, $NE, $PDS, $PTEN, $RIG, and $SDRL. These stocks showed a positive outlook in recent market trends, with Volume Indicators backing the positive stance.
Market Performance
The average market capitalization across the industry is $3.4B, with tickers in the group ranging from $899M to $7.2B. Noble Corp (NE) holds the highest valuation in the group at $7.2B, while Precision Drilling Corp (PDS) is the lowest-valued company at $899M.
The average weekly price growth across all stocks in the group was 2.45%. Monthly price growth averaged 22.88%, with quarterly growth averaging 12.42%.
Company Highlights
1. Noble Corp ($NE)
Noble Corporation, with a market cap of $7.2B, emerged as a significant player. The company experienced a remarkable +13.12% jump in the weekly gain on 7/1/23.
2. Borr Drilling ($BORR)
Borr Drilling recorded a commendable performance, with a +10.68% increase in weekly gain noted on 6/30/23.
3. Seadrill Ltd ($SDRL)
Seadrill Ltd made headlines with record-breaking volume increases. The daily growth of 302%, 351%, and 328% of the 65-Day Volume Moving Average was recorded on 7/13/23, 7/11/23, and 7/7/23, respectively.
Fundamental Analysis Ratings
The industry’s average fundamental analysis ratings are as follows: Valuation Rating at 64, P/E Growth Rating at 76, Price Growth Rating at 36, SMR Rating at 79, and Profit Risk Rating at 79. These ratings give investors a comprehensive insight into the group's financial health and potential growth prospects.
BORR in downward trend: price dove below 50-day moving average on August 28, 2024
BORR moved below its 50-day moving average on August 28, 2024 date and that indicates a change from an upward trend to a downward trend. In of 41 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a company, which engages in the provision of drilling services to the oil and gas exploration and production industry.
Industry ContractDrilling