Goldman Sachs believes the selloff in oil service stocks creates a buying opportunity, as it...

Goldman Sachs believes the selloff in oil service stocks creates a buying opportunity, as it sees Q1 earnings growing at a faster rate driven by completion work. The firm expects Halliburton (HAL) to report in-line Q1 results and recommends buying on the recent pullback, suggests Basic Energy (BAS) on better utilization, and likes Nabors Industries (NBR) on relative valuation.
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Comments (9)
  • tafort
    , contributor
    Comments (4) | Send Message
    Let's see is this because Goldman's wants to sell or...
    21 Mar 2013, 11:55 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (10519) | Send Message
    You raise a valid question,
    I'm going to go out on the limb here and say this call is genuine. I noted that GS reported earlier this year that HAL was a member of its best picks list and they cited NOV as one of the most undervalued companies around.


    This sector may see a positive money flow as investors rotate from sectors that are overbought to those that have lagged. Especially the stocks that have attractive yields. i.e RIG (4%),ESV (3.5%)
    Long ESV, RIG
    21 Mar 2013, 12:19 PM Reply Like
  • deercreekvols
    , contributor
    Comments (9712) | Send Message
    Maybe Goldman Sachs can give readers their thoughts on tax shelters?
    They "advised" DOW Chemical into several and it only cost DOW a cool $1B fine + interest because they were illegal.


    Excuse me if I take any advice from GS with something less than enthusiasm.


    Nokia (NOK) rated a "sell" by Goldman. Goldman buys over 60M shares while rating (NOK) a "sell."


    Something is rotten on Wall Street.
    21 Mar 2013, 12:04 PM Reply Like
  • Piptief
    , contributor
    Comments (1324) | Send Message
    Very very rotten indeed
    21 Mar 2013, 12:06 PM Reply Like
  • Mike Walker
    , contributor
    Comments (396) | Send Message
    I went long the OIH Tuesday.


    Schlumberger comment that started the selloff - it may be true that revenues for US LAND are off. But I expect this to be fully offset by Gulf of Mexico and International.


    Venezuela - what can be said other than that has been a disaster for all the service companies for years - with no end in sight.
    21 Mar 2013, 12:19 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3121) | Send Message
    Perhaps, but the oil services indexes and names have had quite a run after hitting 52wk highs not too long ago. The selloff here has been quite shallow.
    21 Mar 2013, 01:49 PM Reply Like
  • pollyserial
    , contributor
    Comments (1113) | Send Message
    Sell GS. ; )
    21 Mar 2013, 04:12 PM Reply Like
  • Chrispat
    , contributor
    Comments (7) | Send Message
    One has to look at what happened when drilling was suspended in the gulf. The drillers took off to more accomedating places and doing so messed up US employment considerably. Now shale drillers are running to the hills as govt uses the same game plan to do it.
    22 Mar 2013, 09:37 AM Reply Like
  • Chrispat
    , contributor
    Comments (7) | Send Message
    I do not give photos or authgraphs to strangers - especially if they seem to have a persistance buging seventy- seven year young
    senior citizens who wanrt to learn and avoid social garbage rendering like the plague. Thank you.
    22 Mar 2013, 09:48 AM Reply Like
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