BKR
US Oil Drillers Take A Break As Oil Prices Hover Near $100
Article Summary
HOLD- Baker Hughes (NYSE: BRH) reported a sharp drop in active drilling rigs in the United States this week, with 450 active oil rigs down 2 from last week and 587 active gas rigs up 45 from last year.
- The rig count in the Permian Basin fell 2 rigs to 258, with the Eagle Ford remaining flat at 47 rigs, and the rig spread fell 4 crews to 196 after losing 5 the week before.
- The EIA reported slightly lower U.S. crude oil production at 13.798 million bpd, down from 13.861 million last week but up 525,000 bpd from a year ago.
- Brent crude prices fell on Friday, down 4.70% to $95.96 per barrel but still up more than $8 per barrel from this time last week, while WTI declined 4.22% at $88.30 per barrel.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | 0.2% | 25% | 20.0 ptsMinimal (0.2%) - Very weak |
| EPS Growth Next 5Y ? | 8.4% | 25% | 20.0 ptsWeak (8.4%) - Low expectations |
| Target Price Upside ? | 23.6% | 20% | 70.0 ptsGood Upside (23.6%) - Target: $70.81 vs Current: $57.28 |
| Gross Margin % ? | 23.6% | 15% | 40.0 ptsModerate (23.6%) - Adequate margins |
| Drawdown from 52-Wk High ? | -18.7% | 15% | 40.0 ptsMild Pullback (-18.7%) - Light entry opportunity |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About BKR
- Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain.
- Its Oilfield Services & Equipment segment designs and manufactures exploration, appraisal, development, production, rejuvenation, and decommissioning products and related services for onshore and offshore oilfield operations.
- This segment also provides drilling services, drill bits, and drilling and completions fluids; completions, intervention, measurements, pressure pumping, and wireline services; artificial lift systems, and oilfield and industrial chemicals; subsea projects and services, flexible pipe systems, and surface pressure control systems; and integrated well services and solutions.
- It serves oil and natural gas companies; the United States and international independent oil and natural gas companies; national or state-owned oil companies; engineering, procurement, and construction contractors; geothermal companies; and other oilfield service companies.
- The company's Industrial & Energy Technology segment offers gas technology equipment, such as drivers, driven equipment, and turnkey solutions for the mechanical and electric-drive, compression, and power-generation applications; aftermarket support and uptime gas technology services; non-destructive testing technologies, software, and services; pre-commissioning and maintenance services; flow control and safety solutions; mechanical and electromechanical gear transmission systems; Cordant, a software solution to optimize assets, processes, and energy use; Bently Nevada, a sensing and protection hardware for rack-based vibrating monitoring equipment and sensors; and climate technology solutions.
- It serves industrial, upstream, midstream, downstream, onshore, offshore, and small-to-large scale customers.
- The company was formerly known as Baker Hughes, a GE company and changed its name to Baker Hughes Company in October 2019.
- The company was incorporated in 2016 and is based in Houston, Texas.