Sun, Jan. 4, 3:49 PM
- The following stocks were the Russell 2000's worst performers in 2014:
- KWK -93.5%. WLT -91.7%. AMZG -89.5%. PHMD -88.2%. EXXI -88%. RGDO -86.8%. REN -85.4%. HERO -84.7%. EOX -84.3%. MCP -94.3%. CVEO -84.2%. BPZ -84.1%. FWM -82.6%. MILL -82.2%. NADL -81.6%. VRNG -81.4%. CYTX -81%. SALT -80.5%. PRKR -80%. MBII -79.7%. NTLS -79.2%. COVS -78.9%. KEG -78.9%. MM 78 MPO -77%. ANR -76.6%. EXEL -76.5%. SZYM -76.3%. CONN -76.2%. ANV -75.5%. GALT -75.5%. ZQK -74.8%. ARO -74.5%. REXX -74.1%. GDP -74%. FUEL -73.8%. QRHC -73.7%. VTG -73.4%. RLOC -73%. XONE -72.2%.
Oct. 31, 2014, 6:03 AM| Comment!
Oct. 30, 2014, 5:30 PM
Aug. 8, 2014, 2:39 PM
- Offshore drillers continue to show some resilience after Transocean (RIG +1.6%) reported solid Q2 earnings, but analysts suggest it's too early for investors to jump in.
- Jefferies analysts still see challenges, in particular for RIG's 5th G fleet as rigs scramble down market/incur idle time; also, the potential for prolonged weakness in the North Sea leads the firm to lower estimates for FY 2016 even as it is "modestly more comfortable" that a broader 2016 recovery could still be in play.
- UBS thinks RIG will have to make the decision to either reduce the dividend or increase its debt by 2015; dayrate already are down 25%-40% from peaks levels, and pressure likely will continue given limited rig demand and fierce competition, and regular dropdown proceeds from the MLP probably will not provide quite enough help for RIG's free cash flow.
- SDRL +2.7%, NE +2.9%, ATW +2.2%, RDC +2.3%, VTG +1.6%,ESV +0.3%.
Aug. 5, 2014, 6:03 AM| Comment!
Jul. 30, 2014, 3:10 PM
- Newfield Exploration (NFX -5.1%) and EXCO Resources (XCO -6.4%) are the latest examples of oilfield services and equipment companies that have sold off despite reporting reasonably healthy quarterly results.
- NFX is sharply lower after Q2 earnings missed expectations but revenues beat estimates and rose 40% Y/Y; it even reported a deal for its Granite Wash assets that would bring in $588M.
- XCO also offered mixed Q2 results - a $0.01 earnings miss with a revenue beat - but said increased capex would not result in significant production volumes until 2015.
- Global Hunter - while also downgrading Natural Gas Services Group (NGS +0.3%) and Vantage Drilling (VTG +0.1%) - thinks the market is showing fatigue in the sector, particularly with positive onshore oil service data points that may no longer seem incremental.
May. 6, 2014, 6:11 AM| Comment!
Feb. 28, 2014, 9:14 AM
Feb. 28, 2014, 6:01 AM| Comment!
Feb. 28, 2014, 12:05 AM
Feb. 27, 2014, 5:30 PM
Jan. 23, 2014, 2:18 PM
- Noble Corp. (NE -9.7%) leads a drop in deepwater drilling contractors after saying it is seeing fewer contract opportunities than a year ago and the industry may be experiencing a “pause in the cycle” after years of growth fueled by oil and natural gas discoveries.
- The pace of customer spending growth is expected to be lower this year compared with last year, NE says in its earnings call, and that's with 38 ultra-deepwater rigs around the world looking for work vs. 22 a year ago.
- The market for shallow-water rigs also looks wobbly, as Hercules Offshore (HERO -16.3%) said yesterday in a fleet status report that it suspended plans to reactivate a shallow-water rig in the Gulf of Mexico.
- Also: DO -5.3%, ESV -4.8%, RDC -3.8%, ATW -3.9%, RIG -3.5%, SDRL -2.8%, HP -1.1%, VTG -4.3%, PKD -1.9%.
Dec. 20, 2013, 10:15 AM
- Transocean (RIG +0.2%) and Diamond Offshore (DO +0.4%) are downgraded to Sell from Neutral with a $40 price target at Citigroup as part of a negative call on the offshore drilling services sector.
- Pricing power is beginning to erode in the sector, the firm says, believing a clear shift in the balance of power at the bargaining table is occurring.
- RIG opens flattish but slipped 1.8% yesterday after issuing its latest fleet status report which showed the Cajun Express deepwater rig received a contract to operate six wells at a dayrate of $495K vs. the previous rate of $600K.
- Citi also cuts Noble Corp. (NE +0.5%), to Neutral from Buy.
- Others to watch: RDC, ESV, SDRL, HERO, VTG.
Nov. 7, 2013, 7:25 AM
Aug. 9, 2013, 7:27 AM| 1 Comment
Aug. 9, 2013, 12:05 AM
VTG vs. ETF Alternatives
Vantage Drilling Co is an international offshore drilling company engaged in contract drilling units, related equipment and work crews, on a dayrate basis to drill oil and natural gas wells for its customers.
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