Stock price when the opinion was issued
Consolidating, as are a lot of stocks in the sector. Attempting to break out, wrestling with the older highs of $120. Longer term, likes oil. Hard to say if this one will break out. If you're patient, you'll probably be rewarded. But also a chance could tumble back into the trading tunnel. It's a flip of the coin.
Remember to buy a sector when it looks terrible, not when it's up 80-90% ;)
Still likes it but not as much, as drilling is weaker than thought. Selloff in oil, drop in rig count. More efficient drilling ultimately means less work. Continues to de-lever. Everyone's excited about natural gas. Massive exposure to nat gas in Canada, which has better dynamics than US. About a 3.7% weight for him.
More drilling 'should' result in more activity for the service sector, of course. PD is very cheap and seeing fundamental improvement. We would be comfortable in the $76 to $77 range.
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Drilling services to energy (oil & gas) producers. This name weakens when energy companies decide to pull back on drilling; they do that when the commodity's weak and there's less $$ to spend. Very volatile, and that's why she stays away.
Gets swayed by underlying commodity prices and the energy sector, in general, has come off. OPEC has indicated its cutbacks won't continue; a bizarre move in the face of weaker demand, which suggests they need revenue from energy volumes to drive their economies.
Many oil and gas services companies under pressure, both here and in US. Concern that energy prices will be lower under Trump. This name might have tariff concerns as well. Good investment long-term.