Profiting from Offshore Energy: $SLB, $NBR, $SFL, and $EURN Surged +17.65% Last Month
The energy sector remains an area of interest for traders and investors seeking potential opportunities in the market. For SLB, NBR, SFL, and EURN, technical indicators such as positive momentum, bullish moving average crossovers, and positive MACD signals are suggesting the possibility of upward trends in the near future.
The tickers SLB, NBR, SFL, and EURN are being traded using the AI Robot Swing trader: High Capitalization (TA)
Theme and Group of Tickers
The offshore energy group, comprising drillers, shippers of offshore oil producers, and oil services companies, is exhibiting a positive outlook, attracting the attention of investors and analysts alike. Tickeron predicts a further increase of more than 4.00% within the next month for this theme, with a likelihood of 78%. Notably, during the last month, the daily ratio of advancing to declining volumes in this group was 1.8 to 1.
Notable Companies
The most notable companies within the offshore energy group are:
- Schlumberger Limited (NYSE: SLB)
- Transocean Ltd (NYSE: RIG)
- Euronav NV (NYSE: EURN)
- Diamond Offshore Drilling (NYSE: DO)
Theme Description
The offshore energy group encompasses a range of energy companies involved in offshore oil production, shipping, and services. Notable stocks in the theme include Schlumberger, Nabors Industries, and Diamond Offshore Drilling. These companies are subject to changing economic conditions and geopolitical landscapes, as the demand for oil remains relatively inelastic over short periods but can be influenced by prolonged periods of high or low oil prices.
Market Cap
The average market capitalization for companies in the offshore energy theme stands at 10.5B. However, the market cap for individual tickers within the group varies significantly, ranging from 4.2M to 82.9B. Schlumberger (SLB) holds the highest valuation at 82.9B, while the lowest valued company is HOS at 4.2M.
High and Low Price Notable News
The offshore energy theme has shown impressive price growth across different timeframes. The average weekly price growth across all stocks was 3.89%, with a monthly growth of 17.65% and a quarterly growth of 10.35%. HLX experienced the highest price growth at 13.07%, while OII faced the biggest fall at -4.71%.
Notable Weekly Price Movements:
- 7/28/23 4:21 PM: Oceaneering International (OII, $21.08) declined -9.57% this week.
- 7/8/23 7:21 AM: Helix Energy Solutions Group (HLX, $7.93) jumped +7.45%, indicating a possible uptrend continuation.
- 6/15/23 7:14 AM: Helix Energy Solutions Group (HLX, $6.79) declined -6.73% during the week.
Volume
The average weekly volume growth across all stocks in the offshore energy theme was 2.15%. However, the average monthly volume growth saw a decline of -38.76%, with a quarterly decrease of -39.09%.
Notable Volume Surges:
- 7/7/23 7:19 AM: Dril-Quip stock experienced a record-breaking daily growth of 245% of the 65-Day Volume Moving Average.
- 1/12/23 8:46 AM: Euronav stock witnessed a record-breaking daily growth of 416% of the 65-Day Volume Moving Average.
Fundamental Analysis Ratings
The average fundamental analysis ratings for the offshore energy theme are as follows:
- Valuation Rating: 68 (1 being best, 100 being worst)
- P/E Growth Rating: 62
- Price Growth Rating: 36
- SMR Rating: 74
- Profit Risk Rating: 79
- Seasonality Score: 0 (-100 ... +100)
Despite the inherent volatility of companies in the offshore energy group, the positive outlook and upward trends observed in several tickers present an attractive growth potential for investors.
This article focuses on the energy sector and highlights four prominent tickers within the sector: SLB, NBR, SFL, and EURN. These stocks have recently exhibited positive momentum and bullish signals from their moving averages, indicating potential upward trends in the near future. Traders may find these indicators helpful in formulating their investment strategies.
- SLB - Schlumberger Limited:
SLB has shown a significant positive momentum indicator, with the Momentum Indicator moving above the 0 level on July 28, 2023. This suggests the stock might be entering a new upward trend. Tickeron's A.I.dvisor analysis reveals that in 64 out of 85 similar instances in the past, the stock moved higher in the following days, resulting in a 75% probability of a continued upward move. Traders may consider buying the stock or exploring call options to potentially benefit from this optimistic trend.
- NBR - Nabors Industries Ltd.:
NBR's 10-day Moving Average exhibited a bullish crossover above the 50-day moving average on July 11, 2023. This bullish crossover signals a potential shift to a higher trend and acts as a buy signal for investors. Historical data analysis from 14 past occurrences of similar crossovers reveals that the stock continued to move higher over the following month in 13 instances, leading to a compelling 90% probability of a continued upward trend. Traders could see this as an opportunity to capitalize on the stock's potential gains.
- SFL - Ship Finance International Limited:
SFL's Moving Average Convergence Divergence (MACD) Histogram turned positive on July 28, 2023. Previous instances of a positive MACD signal have resulted in the stock's upward movement in 30 out of 44 cases over the following month, giving a 68% probability of a continued upward trend. Investors may view this as a favorable indication and consider taking positions in SFL to benefit from potential price appreciation.
- EURN - Euronav NV:
Similar to SFL, EURN's Moving Average Convergence Divergence (MACD) Histogram turned positive on July 26, 2023. In past occurrences where EURN's MACD turned positive, the stock continued to rise in 33 out of 42 cases over the following month, resulting in a promising 79% probability of a continued upward trend. Traders and investors might find this signal attractive, possibly leading to increased interest in EURN.
EURN in upward trend: 10-day moving average crossed above 50-day moving average on September 22, 2023
The 10-day moving average for EURN crossed bullishly above the 50-day moving average on September 22, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 18 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on September 18, 2023. You may want to consider a long position or call options on EURN 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 EURN just turned positive on September 20, 2023. Looking at past instances where EURN's MACD turned positive, the stock continued to rise in of 41 cases over the following month. The odds of a continued upward trend are .
EURN moved above its 50-day moving average on September 18, 2023 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 EURN advanced for three days, in of 312 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The RSI Indicator demonstrated that the stock has entered the overbought zone. This may point to a price pull-back soon.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where EURN declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
EURN broke above its upper Bollinger Band on September 21, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for EURN entered a downward trend on September 21, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued 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 (1.631) is normal, around the industry mean (84.986). P/E Ratio (5.921) is within average values for comparable stocks, (20.355). EURN's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (2.504). EURN has a moderately high Dividend Yield (0.152) as compared to the industry average of (0.070). P/S Ratio (2.729) is also within normal values, averaging (2.674).
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 70, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable 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.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. EURN’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is significantly 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 PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse 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.
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 provider of international maritime shipping and offshore services
Industry OilGasPipelines
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EURN and
Correlation & Price change
A.I.dvisor indicates that over the last year, EURN has been loosely correlated with TNK. These tickers have moved in lockstep 66% of the time. This A.I.-generated data suggests there is some statistical probability that if EURN jumps, then TNK could also see price increases.
| Ticker / NAME | Correlation To EURN | 1D Price Change % | ||
|---|---|---|---|---|
| EURN | 100% | +0.81% | ||
| TNK - EURN | 66% Loosely correlated | +1.69% | ||
| DHT - EURN | 60% Loosely correlated | -0.99% | ||
| TK - EURN | 59% Loosely correlated | +2.14% | ||
| FRO - EURN | 56% Loosely correlated | +0.27% | ||
| INSW - EURN | 56% Loosely correlated | +2.43% | ||
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