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Aug 28, 2023

๐Ÿ“‰ Exploring Contract Drilling Stocks: $RIG, $DO, $PTEN, $SDRL, $NE - Unveiling - 4.22% Group Losses!

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 Tickers in this Group:

 

  • $SDRL - Seadrill Limited

  • $DO - Diamond Offshore Drilling Inc

  • $RIG - Transocean Ltd

  • $HP - Helmerich & Payne Inc

  • $NBR - Nabors Industries Ltd

  • $PDS - Precision Drilling Corporation

  • $PTEN - Patterson-UTI Energy Inc

  • $BORR - Borr Drilling Limited

  • $NE - Noble Corporation

     

    Unveiling Sectoral Shifts: Exploring the Contract Drilling Industry's Recent Challenges and Trends

    Contract Drilling Lose -4.22% in 1W!

    ๐Ÿ›ข๏ธ Industry Description The contract drilling industry is the backbone of the energy sector, providing essential onshore and offshore drilling services. These services are offered through contractual agreements or fees, catering to major and independent oil and gas companies. The industry's fortunes are closely tied to oil demand and fluctuating energy prices. Notable players include Helmerich & Payne, Inc., Transocean Ltd, and Patterson-UTI Energy, Inc.

    ๐Ÿ’ก Market Insights A recent dip of -4.22% in contract drilling stocks over the past week has caught the market's attention. As we navigate this market movement, it's crucial to dissect the influencing factors, delve into significant stock tickers, and understand the implications for various sectors.

    ๐Ÿ“Š Market Analysis The contract drilling stocks are currently presenting a negative outlook, supported by the RSI indicator and the Stock Fear & Greed Index. According to Tickeron, the group is poised for a further decline of over 4.00% within the coming month, with a likelihood of 65%. During the last month, advancing volumes have slightly outweighed declining volumes, with a ratio of 1.05 to 1.

    ๐Ÿ“ˆ Notable Tickers Two standout companies in this industry are Transocean Ltd (NYSE:RIG) and Diamond Offshore Drilling (NYSE:DO), both capturing the market's attention.

    ๐Ÿ’ฐ Market Capitalization The contract drilling industry boasts an average market capitalization of approximately $3.2 billion. Within this spectrum, ticker valuations range from $879.8 million to $6.9 billion, with NE commanding the highest valuation and PDS the lowest.

    ๐Ÿ“‰ Price Fluctuations The recent weekly price shift of -4.22% has caused a stir among investors. Over the past month, stocks have encountered an average monthly decline of -4.82%, followed by an average quarterly growth of 10.38%. Notably, NBR's price demonstrated a resilient growth of -0.88%, while DO faced the most significant decline at -8.71%.

    ๐Ÿ—ž๏ธ Noteworthy News The market has been buzzing with activity:

  • Patterson-UTI Energy (PTEN, $14.53) experienced a -5.16% drop this week.
  • Borr Drilling (BORR, $7.95) witnessed a decline of -6.47%, raising expectations of a potential downtrend reversal.
  • Noble (NE, $41.31) emerged as a top weekly gainer with an impressive +13.12% jump.
  • ๐Ÿ“Š Volume Trends The contract drilling sector has faced a weekly volume contraction of -15.4%. Monthly volumes have seen a -30.16% decrease, with a quarterly volume decline of -19.1%.

    ๐Ÿ“ˆ Fundamental Analysis Ratings Scrutinizing the fundamental analysis ratings, we find:

  • Valuation Rating: 57
  • P/E Growth Rating: 80
  • Price Growth Rating: 43
  • SMR Rating: 72
  • ๐Ÿ“‰ Technical Analysis Insights Insights from technical analysis highlight intriguing patterns:

  • $SDRL has entered a -1.84% downward trend, signaling potential declines ahead.
  • $DO's MACD Histogram has turned negative, indicating a bearish trajectory.
  • $DOs Aroon Indicator has entered a Downtrend, indicating a possible decline ahead.
  • $NE's RSI Oscillator has exited the overbought zone, suggesting a shift to a downward trend.
  • $PTEN's Aroon Indicator has entered a Downtrend, possibly indicating further declines.
  • $NE's Momentum Indicator has fallen below 0, implying the potential for continued price drops.
  • ๐Ÿ“Š Price Forecasts and Trends

  • $SDRL's current price of $48.46 has crossed the support line at $45.87, hinting at potential volatility between $73.28 resistance and $45.87 support lines.
  • $DO experienced a -7% Downtrend over the past month, with a -9% fall in the week of 08/17/23 - 08/24/23.
  • $RIG surged +22.74% quarterly, hinting at a potential Uptrend reversal.
  • $PDS is in a -2.56% downward trend, potentially leading to further declines.
  • $NE's current price of $50.22 has crossed the support line at $51.65, indicating a possible -0.90% Downtrend.
  • Exploring Trends for Informed Decisions The recent -4.22% drop in the contract drilling industry has spotlighted challenges and shifts in this crucial sector. As we analyze the influencing factors, delve into key stock tickers, and gauge sectoral implications, investors are empowered to make informed decisions. Market dynamics continue to evolve, making strategic insights and analytical acumen essential for navigating the complex landscape of contract drilling and beyond. Stay tuned as we delve deeper into the fascinating world of financial markets and their intriguing shifts! ๐Ÿ“ˆ๐Ÿ›ข๏ธ

  • Profit Risk Rating: 79
  • Seasonality Score: -10
Related Ticker: SDRL, DO, RIG, HP, NBR, PDS, PTEN, BORR, NE

SDRL in downward trend: 10-day moving average broke below 50-day moving average on September 20, 2023

The 10-day moving average for SDRL crossed bearishly below the 50-day moving average on September 20, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 8 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on September 06, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on SDRL as a result. In of 48 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

SDRL moved below its 50-day moving average on September 19, 2023 date and that indicates a change from an upward trend to a downward trend.

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

Bullish Trend Analysis

The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where SDRL's RSI Indicator exited the oversold zone, of 25 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 40 cases where SDRL's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SDRL advanced for three days, in of 188 cases, the price rose further within the following month. The odds of a continued upward trend are .

SDRL may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

The Aroon Indicator entered an Uptrend today. In of 89 cases where SDRL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 87, placing this stock better than average.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. SDRLโ€™s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.181) is normal, around the industry mean (1.375). P/E Ratio (0.757) is within average values for comparable stocks, (38.750). SDRL's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (0.167). SDRL has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.032). SDRL's P/S Ratio (2.417) is slightly higher than the industry average of (1.214).

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to slightly better than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

Notable companies

The most notable companies in this group are Transocean Ltd (NYSE:RIG), Diamond Offshore Drilling (NYSE:DO).

Industry description

The contract drilling industry includes companies that provide onshore and offshore drilling services to the energy sector. Services are delivered on a contractual or per-fee basis. Customers of this industry include major and independent oil and gas companies. Strong oil demand could potentially boost contract fees. Helmerich & Payne, Inc., Transocean Ltd and Patterson-UTI Energy, Inc. are among the major drilling companies in the U.S.

Market Cap

The average market capitalization across the Contract Drilling Industry is 2.09B. The market cap for tickers in the group ranges from 21.2K to 7.25B. NE holds the highest valuation in this group at 7.25B. The lowest valued company is EXLA at 21.2K.

High and low price notable news

The average weekly price growth across all stocks in the Contract Drilling Industry was 0%. For the same Industry, the average monthly price growth was 3%, and the average quarterly price growth was 13%. VTDRF experienced the highest price growth at 8%, while AKTAF experienced the biggest fall at -7%.

Volume

The average weekly volume growth across all stocks in the Contract Drilling Industry was 23%. For the same stocks of the Industry, the average monthly volume growth was 12% and the average quarterly volume growth was -11%

Fundamental Analysis Ratings

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

Valuation Rating: 61
P/E Growth Rating: 80
Price Growth Rating: 41
SMR Rating: 76
Profit Risk Rating: 86
Seasonality Score: -2 (-100 ... +100)
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Technical Analysis# Of IndicatorsAvg. Odds
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

an offshore drilling contractor providing offshore drilling services to the oil and gas industry.

Industry ContractDrilling

Profile
Fundamentals
Details
Industry
Contract Drilling
Address
566 Chiswick High Road, Chiswick Business Park
Phone
+44 2088114700
Employees
2576
Web
https://www.seadrill.com
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SDRL and

Correlation & Price change

A.I.dvisor tells us that SDRL and DO have been poorly correlated (+5% of the time) for the last year. This A.I.-generated data suggests there is low statistical probability that SDRL and DO's prices will move in lockstep.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To SDRL
1D Price
Change %
SDRL100%
-2.57%
DO - SDRL
5%
Poorly correlated
-2.13%
RIG - SDRL
3%
Poorly correlated
-2.49%
PDS - SDRL
-0%
Poorly correlated
-2.63%
NE - SDRL
-2%
Poorly correlated
-1.44%
ICD - SDRL
-2%
Poorly correlated
-0.33%
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