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Operators in the Oil and Gas Equipment and Services industry do not track the price of oil exactly, they are typically and positively correlated. On Friday, November 25, 2016, oil prices slid on uncertainty over an output cut at the end of this month, sending Brent crude futures 3.59% lower at $47.24 a barrel, and U.S. crude futures 3.96% lower at $46.06. This morning, Stock-Callers.com has lined up four equities to see how they have fared at the closing bell of the last trading session: Weatherford International, Halliburton, Schlumberger, and Synergy Resources.
Weatherford
Last Friday at the close, shares in Baar, Switzerland headquartered Weatherford International PLC ended 0.40% lower at $4.96. The stock recorded a trading volume of 12.11 million shares. Shares of the Company, which together with its subsidiaries, operates as a multinational oilfield service company worldwide, are trading below their 50-day moving average by 7.62%. Furthermore, Weatherford International’s stock has a Relative Strength Index (RSI) of 49.45.
On November 02nd, 2016, research firm Raymond James downgraded the Company’s stock rating from ‘Strong Buy’ to ‘Outperform’.
As per the notes filed with the SEC on November 21st, 2016, on November 15th, 2016, Weatherford International Ltd, an indirect wholly owned subsidiary of Weatherford International PLC, entered into a purchase agreement with Weatherford Ireland, Weatherford International, LLC an indirect wholly owned subsidiary of Weatherford Ireland and an indirect subsidiary of Weatherford Bermuda, and Morgan Stanley & Co. LLC. The Purchase Agreement provides for the offer and sale by Weatherford Bermuda, and the purchase by Morgan Stanley, of $540 million aggregate principal amount of Weatherford Bermuda’s 9.875% senior notes due 2024.
Halliburton
Houston, Texas-based Halliburton Co.’s stock finished Friday’s session 0.08% higher at $49.51 with a total trading volume of 2.74 million shares. The Company’s shares have advanced 3.97% in the last one month, 11.57% over the previous three months, and 47.48% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 7.11% and 18.66%, respectively. Additionally, shares of Halliburton, which provides a range of services and products to the upstream oil and natural gas industry worldwide, have an RSI of 62.15.
On November 02nd, 2016, Halliburton announced that its board of directors has declared a Q4 2016 dividend of $0.18 per share on its common stock payable December 28th, 2016, to shareholders of record at the close of business on December 7th, 2016.
Schlumberger
Shares in Houston, Texas-based Schlumberger Ltd ended the session 0.14% lower at $81.29 with a total trading volume of 1.82 million shares. The stock has gained 1.59% in the past month, 1.12% over the previous three months, and 18.91% on an YTD basis. The Company’s shares are trading above their 50-day and 200-day moving averages by 2.36% and 5.42%, respectively. Moreover, shares of Schlumberger, which supplies technology, integrated project management, and information solutions to the oil and gas exploration and production industry worldwide, have an RSI of 57.93.
On November 04th, 2016, Schlumberger announced that it will hold a conference call on January 20th, 2017, to discuss Q4 2016 and FY16 financial results. The conference call is scheduled to begin at 7:30 am CT. A press release regarding the results will be released prior to the call that same day.
On November 15th, 2016, research firm Jefferies upgraded the Company’s stock rating from ‘Hold’ to ‘Buy’.
Synergy Resources
Denver, Colorado-based Synergy Resources Corp.’s stock recorded a trading volume of 1.54 million shares, and closed 0.23% higher at $8.83. The Company’s shares have gained 19.16% in the past month, 32.58% in the previous three months, and 3.64% since the start of this year. The stock is trading 22.93% and 27.94% above its 50-day and 200-day moving averages, respectively. Additionally, shares of Synergy Resources, which engages in the acquisition, development, exploitation, exploration, and production of oil and natural gas properties primarily located in the Denver-Julesburg Basin in Colorado, have an RSI of 77.35.
On November 03rd, 2016, Synergy Resources revenues were $26.2 million for Q3 2016, down from $33.4 million in the year ago same quarter. In the reported quarter, the average realized price per barrel of oil was $35.67 versus a realized price per barrel of $39.05 in Q3 2015. The company’s Q3 2016 net loss totaled $19.2 million, or $0.10 loss per diluted share.