Fri, Apr. 24, 9:05 AM
- Emerge Energy Services (NYSE:EMES) -7.7% premarket after announcing it is cutting its quarterly distribution by 29% to $1.00/unit from $1.41, as the slowdown in drilling activity hits proppant suppliers and other industry suppliers.
- EMES also revises its full year distribution guidance to ~$3.00/unit.
- Baird downgrades EMES to Underperform from Neutral and lowers its price target to $30 from $50, and expects other frac sand miners such as HCLP and SLCA to sell off on the news (Briefing.com).
Wed, Mar. 18, 10:29 AM
- BofA Merrill Lynch analysts initiate coverage of frac sand companies and MLPs, starting Emerge Energy Services (EMES -0.6%), Hi-Crush Partners (HCLP +0.4%) and U.S. Silica (SLCA +0.4%) with Buy ratings.
- The firm forecasts a frac sand demand decline of 10%-15% but partially offset by a 25% increase in proppant (frac sand) per well in 2015.
- BofA sets a $67 price target on EMES, which implies nearly 60% potential upside, and shareholders are rewarded with a 13.2% distribution while they wait; the firm's targets for HCLP and SLCA are a respective $45 and $37.
Wed, Feb. 25, 9:24 AM| 3 Comments
Tue, Feb. 24, 5:39 PM
Tue, Feb. 24, 5:23 PM
- U.S. Silica (NYSE:SLCA) -12% AH after posting slightly weaker than expected Q4 earnings but suspending guidance for adjusted EBITDA "due to the current lack of visibility in our oil and gas business."
- SLCA says it anticipates 2015 capex of $100M-$120M.
- Says overall tons sold during Q4 rose 43% Y/Y to 3M tons; for the full year, overall tons sold increased 34% Y/Y to 10.9M tons.
Tue, Feb. 24, 4:51 PM
Mon, Feb. 23, 5:35 PM
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Fri, Feb. 13, 9:24 AM
Mon, Feb. 2, 6:55 PM
- Jefferies downgrades nine oil services stocks (NYSEARCA:OIH), noting there is still “material downside” to consensus estimates from lower oil prices.
- Despite its medium-term negative view on oil, Jefferies adds that it expects oil prices to start to recover in 2015 with prices rising to levels that support oil services in 2016; yet the firm does not expect the sector to recover quickly, and sees deepwater drilling particularly sluggish on high costs and “flat-to-modestly-lower activity.”
- Downgraded to Underperform: FTI, NBR, PTEN, RIG.
- Downgraded to Hold: CAM, PES, PDS, SLCA, FMSA.
Dec. 31, 2014, 2:50 PM
- U.S. Silica (NYSE:SLCA) CEO Bryan Shinn discloses he bought 4K shares yesterday at $25.43. Director Peter Bernard bought 5K shares at $25.41.
- COO Peter Winkler has also bought shares in December following SLCA's oil price-driven plunge, as have directors Michael Stice, Charles Shaver, and William Kacal.
- SLCA is closing the year down 23% YTD, and 64% from a September high of $73.43.
- Yesterday: Fracking sand plays sell off again
Dec. 30, 2014, 11:09 AM
- With WTI crude now trading near $54/barrel, fracking sand plays Hi-Crush Partners (HCLP -4.3%), U.S. Silica (SLCA -2.7%), and Emerge Energy (EMES -7.5%) are posting fresh losses.
- Baker Hughes has reported U.S. rigs targeting oil fell by 37 in the week ending Dec. 26 to 1,499. Idle rigs were at their highest level since 2012. Nonetheless, Goldman thinks U.S. producers might further boost production (already at its highest levels in more than three decades) in an attempt to grab share from OPEC, albeit while moving rigs to lower-cost fields.
- Several SA authors have defended U.S. Silica (I, II, III, IV) over the last month, citing its valuation and a belief frac sand demand should remain healthy even if oil prices stay under pressure. The company added to its buyback last week.
Dec. 23, 2014, 3:58 PM
- U.S. Silica (SLCA +2.9%) is higher a day after its board authorized an increase in the company's share repurchase program to as much as $50M from $25M, which the company says reflects confidence in its long-term strategy.
- Also, SLCA has been seeing some recent insider buying, including nearly $47K in purchases yesterday from two company directors.
Dec. 9, 2014, 3:48 PM
- U.S. Silica (SLCA +4.7%) enjoys strong gains after Ariel Investments' John Rogers names the stock as one of his favorites, citing valuation at less than 10x next year's earnings and down more than 50% in the current quarter.
- Rogers sees SLCA as a leader in the frac sand business, he likes the support provided by long-term contracts, and believes it will weather the current rough period for energy stocks.
- Rogers also recommends International Speedway (ISCA -1.3%), seeing a rebound in auto racing as the economy improves, and Brady Corp. (BRC +4.9%), citing valuation and new management.
Nov. 28, 2014, 12:48 PM
- Fracking sand plays U.S. Silica (SLCA -26.3%), Hi-Crush Partners (HCLP -17.3%), and Emerge Energy (EMES -16.5%) are among the many energy names sporting double-digit declines in response to OPEC's decision not to cut crude production, and the resulting plunge in crude prices. As are proppant providers Carbo Ceramics (CRR -16.2%) and FMSA Holdings (FMSA -16.5%).
- Wells Fargo's Wednesday downgrade of U.S. Silica was well-timed.
Nov. 28, 2014, 12:45 PM
Nov. 26, 2014, 9:51 AM
- Wells Fargo has downgraded U.S. Silica (NYSE:SLCA) to Market Perform, and slashed its valuation range to $47-$54 from $53-$60. The firm cites lower oil prices, and a belief oil E&P spend will remain weak.
- Peer Hi-Crush Partners (NYSE:HCLP) is also off.
- Previous: Lower crude prices could affect fracking sand
SLCA vs. ETF Alternatives
US Silica Holdings Inc together with its subsidiaries is a domestic producer of commercial silica, a specialized mineral that is a critical input into an end markets. Its products include Oil & Gas Proppants, Fine Ground Silica, FLORISIL & Aplite.
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