CARBO Ceramics Inc. (CRR) - NYSE
  • Fri, Jul. 15, 12:59 PM
    • Fairmount Santrol (FMSA -19.8%) is nearly 20% lower after preliminary Q2 earnings, revenues and adjusted EBITDA all miss estimates, but analysts sees potential weakness in shares.
    • Tudor Pickering analysts say the results should not be too surprising given that the U.S. onshore rig count is down 25%-30% Q/Q, and the firm says it retains its Buy rating for FMSA as a preferred oil service name for an "impending” energy market upturn.
    • RBC, which rates FMSA at Outperform, still likes the company for strong forecasted volume growth driven by increasing proppant intensity, and sees potential for pricing power, share gains, potential capital structure M&A as the energy cycle matures.
    • Jefferies rates FMSA only at Hold, saying the revenue miss may suggest some combination of greater pricing pressure, “negative mix shift” in which the firm sees “less resin coated proppant and a lower percentage of in-basin sales.”
    • Also: SLCA -2.5%, HCLP -4.5%, EMES -5.9%, CRR -1.1%.
    | Fri, Jul. 15, 12:59 PM
  • Wed, Jul. 13, 12:44 PM
    | Wed, Jul. 13, 12:44 PM
  • Thu, Apr. 28, 12:46 PM
    | Thu, Apr. 28, 12:46 PM | 6 Comments
  • Thu, Apr. 21, 9:53 AM
    • Carbo Ceramics (CRR -7.6%) says it will idle most production activities at its plants in New Iberia, La., laying off 61 employees, and Toomsboro, Ga., as demand for high-end proppants has diminished.
    • CRR says the moves are in response to a depressed commodity price for oil and the resulting negative impact on industry activity levels and on the demand for ceramic proppant, and it sees no indications of any significant positive change in the near-term.
    • Now read Bakken update: Mega-fracs could mean Carbo Ceramics is a dead man walking
    | Thu, Apr. 21, 9:53 AM | 3 Comments
  • Fri, Mar. 18, 12:48 PM
    | Fri, Mar. 18, 12:48 PM | 16 Comments
  • Fri, Mar. 18, 12:42 PM
    • Carbo Ceramics (CRR -13.2%) sinks to one-month lows following a negative blog from Forensic Research Analyst, which says its analysis of CRR's FracFocus data "incontrovertibly demonstrates" that the company’s largest remaining customers are moving away from ceramics to sand completions.
    • The blog notes CRR broke a leverage covenant at the end of January and now is in near-term danger of another covenant violation, and says a near‐term dilutive equity raise can only buy a few more quarters of further balance sheet runway and "will only serve to delay the inevitable."
    | Fri, Mar. 18, 12:42 PM | 2 Comments
  • Tue, Feb. 23, 5:41 PM
    • Top gainers, as of 5.25 p.m.: ETSY +16.3%. MT +10.0%. DWA +8.3%. CRR +8.2%. TWX +5.8%.
    • Top losers, as of 5.25p.m.: DY -16.8%. CAR -12.0%. NYMT -7.5%. SLCA -6.6%. HTZ -4.9%.
    | Tue, Feb. 23, 5:41 PM | 5 Comments
  • Wed, Jan. 20, 12:45 PM
    | Wed, Jan. 20, 12:45 PM | 5 Comments
  • Nov. 30, 2015, 2:23 PM
    • The "lower for longer" consensus on crude oil prices is overly conservative, and prices will begin bouncing back next year, Guggenheim analysts say as they upgrade the oil services sector to Buy and see plenty of upside for the major players given current market conditions.
    • Guggenheim is calling for oil prices to return to $100/bbl by 2018, and sees 10% upside across the board for oil services stocks in the next year resulting from the group's unique exposure to crude prices.
    • Within the group, the firm prefers Rowan (RDC +1.8%) and Atwood Oceanics (ATW +1.6%), as their backlogs should help reduce near-term risk, RDC has no newbuild commitments and ATW is finalizing a contract in Brazil for one of its two uncontracted rigs, utilization in the Middle East (NYSE:RDC) and Australia (NYSE:ATW) should be resilient on a relative basis, and both have fleets that make them more interesting M&A candidates.
    • Upgraded to Buy from Neutral: CAM, RIG, NE, OII, PACD, DO, ESV, CLB, OIS, HP, NBR, CRR, NOV, DRQ, FI, PTEN, SSE, FTI, CJES, FET, SPN.
    | Nov. 30, 2015, 2:23 PM | 88 Comments
  • Nov. 4, 2015, 9:56 AM
    • Emerge Energy Services (EMES -13%) plunges at the open after reporting a Q3 loss that came in far worse than expectations, while revenues slightly beat estimates but still fell 40% Y/Y.
    • EMES warns that drilling and well completion activity levels will be "extremely weak" in Q4, and now expect that any market recovery in the frac sand business will not occur until H2 2016 or potentially not until 2017.
    • EMES says its sand segment generated Q3 EBITDA of $4.2M on 7% lower sales volume of 799K tons; market pricing and prices negotiated with customers continue to decline at the plant and in-basin.
    • EMES says it has been able to significantly lower production costs but fixed rail expense, which includes both operating leases and railcar storage costs, remains significant.
    • After surging yesterday, shares prices of frac sand companies are broadly lower today: HCLP -7.1%, FMSA -7.6%, SLCA -4.8%, CRR -0.3%.
    | Nov. 4, 2015, 9:56 AM | 8 Comments
  • Oct. 28, 2015, 10:59 AM
    • U.S. Silica (SLCA +26.3%) rallies despite reporting a larger than expected Q3 loss, as investors apparently breathe a sigh of relief that results weren't even worse following recent negative announcements from its frac sand peers.
    • SLCA says it sold 2.6M tons in Q3, down 12% Y/Y but up 16% Q/Q; the company cautions that it expects to see a sequential decline in Q4 volumes and margins in its oil and gas business as drilling and completion activity likely will slow significantly.
    • SLCA says it continues to refrain from providing guidance for adjusted EBITDA due to the current lack of visibility in its oil and gas business.
    • Frac sand peers also are rising: EMES +14.4%, HCLP +9.3%, CRR +8.8%, FMSA +4.8%.
    | Oct. 28, 2015, 10:59 AM | 6 Comments
  • Oct. 27, 2015, 9:51 AM
    • Emerge Energy Services (EMES -9.2%) sinks at the open after Baird cuts its price target to zero from $3, believing there are much better risk/reward propositions available to investors in higher-yielding quality MLPs.
    • Baird discourages investors from bottom fishing in frac sand suppliers, which it believes present going concern risk, and that aggressive traders should remain short until the oil market shows materially better fundamentals; tax-loss selling also is likely to present further downside risk through 2015, the firm adds.
    • Frac sand peer Hi-Crush Partners (HCLP -14.8%) suspended its distribution following yesterday's market close; SLCA -4.7%, CRR -0.3%, FMSA -2.9%.
    | Oct. 27, 2015, 9:51 AM | 33 Comments
  • Oct. 26, 2015, 5:21 PM
    • Hi-Crush Partners (NYSE:HCLP) -14.9% AH on news it is suspending its quarterly distribution due to challenging market conditions.
    • HCLP says the suspension "is about prudent preservation of capital, building market share and positioning Hi-Crush for the eventual market turnaround. We continue to believe the fundamentals for increased frac sand demand over the long-term are favorable, but the recovery will take longer than previously thought."
    • HCLP follows peer Emerge Energy as the second frac sand producer in recent days to suspend its distribution; EMES -2.6%, SLCA -1.5%, CRR -0.2% AH.
    | Oct. 26, 2015, 5:21 PM | 45 Comments
  • Oct. 23, 2015, 9:49 AM
    • Emerge Energy Services (EMES -29.3%) plunges at the open following last night's announcement that it will not make a Q3 cash distribution because it did not generate distributable cash flow.
    • Analysts are weighing in, with Stifel issuing a Sell recommendation with a $1 price target, saying it "would not rule out an equity value going to zero should the [frac sand] industry continue to struggle and banks tighten."
    • Baird says "look out below," reiterating its Underperform rating and cutting its price target to $3 from $5 previously.
    • Wunderlich lowers it price target to $4 from $7, expecting EMES likely to suffer multiple quarters without a distribution (Briefing.com).
    • Frac sand peers also are lower: HCLP -10.3%, CRR -9.9%, FMSA -4.2%, SLCA -0.3%.
    | Oct. 23, 2015, 9:49 AM | 50 Comments
  • Oct. 22, 2015, 4:59 PM
    • Emerge Energy Services (NYSE:EMES) -9.1% AH on news it will not pay a Q3 distribution after saying it did not generate sufficient cash during the quarter to do so.
    • EMES cites the challenging oil and natural gas frac sand market and the volatility in wholesale fuel prices during the period.
    • Frac sand peers are sharply lower on the news: HCLP -8.7%, SLCA -5.2%, CRR -2% AH.
    | Oct. 22, 2015, 4:59 PM | 31 Comments
  • Sep. 25, 2015, 9:12 AM
    • Emerge Energy Services (NYSE:EMES) -16.9% premarket after withdrawing its 2015 distribution guidance of $2.50-$3.00/unit due to difficult market conditions in its sand and fuels segments from pressure on oil and natural gas prices. with no expectation for further guidance this year.
    • On the news. Stifel downgrades EMES to Sell with an $8 price target and sharply reduces earnings estimates, noting this is the third time management has revised 2015 guidance.
    • Also pointing out looming debt covenant issues, Baird cuts EMES to Underperform with a $7 target and expects weakness in other proppant producers, including CRR, FMSA, HCLP and SLCA (Briefing.com).
    | Sep. 25, 2015, 9:12 AM | 24 Comments
Company Description
CARBO Ceramics, Inc. manufactures and supplies ceramic proppant and resin-coated sand. It provides fracture simulation software and fracture design and consulting services. The company also provides a broad range of technologies for spill prevention, containment and geotechnical monitoring. Its... More
Industry: Oil & Gas Equipment & Services
Country: United States