Baker Hughes reports U.S. rig count up 8 to 448 rigs » 13:0205/0705/07/21
Baker Hughes reports that…
Baker Hughes reports that the U.S. rig count is up 8 from last week to 448 with oil rigs up 2 to 344, gas rigs up 7 to 103, and miscellaneous rigs down 1 to 1. The U.S. Rig Count is up 74 rigs from last year's count of 374, with oil rigs up 52 gas rigs up 23 and miscellaneous rigs down 1 to 1. The U.S. Offshore Rig Count is unchanged at 13, down 2 year-over-year. The Canada Rig Count is up 4 from last week to 55, with oil rigs up 2 to 22, gas rigs up 2 to 33. The Canada Rig Count is up 29 rigs from last year's count of 26, with oil rigs up 15, gas rigs up 14.
Baker Hughes reports U.S. rig count up 8 to 448 rigs 13:0005/0705/07/21
Baker Hughes, Bloom Energy to collaborate on low carbon power-generation » 16:0905/0505/05/21
Baker Hughes (BKR) and…
Baker Hughes (BKR) and Bloom Energy (BE) have announced and agreed to collaborate on the potential commercialization and deployment of integrated, low carbon power-generation and hydrogen solutions to advance the energy transition. Baker Hughes and Bloom Energy will begin collaborating on potential customer engagements immediately, with the objective of launching pilot projects over the next 2-3 years and fully commercializing and scaling applications, products and solutions shortly thereafter. The companies will focus efforts in three areas: Integrated power solutions: By leveraging Bloom Energy's solid oxide fuel cell technology (SOFC) and Baker Hughes' light-weight gas turbine technology, the companies intend to provide efficient, resilient, and cost-effective solutions for cleaner energy generation, waste heat recovery, and grid independent power for customers. Bloom Energy's efficient and low emissions SOFCs, Baker Hughes' efficient and flexible NovaLT gas turbines - which can run on up to 100% hydrogen - along with heat recovery turbines can create resilient microgrids ideal for large-scale applications. Integrated hydrogen solutions: The companies will explore opportunities to pair Bloom Energy's solid oxide electrolyzer cells (SOEC) that can produce 100% clean hydrogen with Baker Hughes' compression technology for efficient production, compression, transport, and delivery of hydrogen. Waste heat utilization for steam generation will also be assessed to further increase efficiency and cost effectiveness of hydrogen production. The companies will target applications such as blending hydrogen into natural gas pipelines, as well as on-site hydrogen production for industrial use. These efforts are geared toward accelerating the transition to the hydrogen economy. Bloom Energy's SOEC technology coupled with Baker Hughes' compression technology could facilitate faster adoption of hydrogen in process industries such as steel refining, where the use of heat recovery from the steel-making process could deliver higher overall system efficiencies and customer value. Mutual technical collaborations: The companies will assess opportunities to leverage Baker Hughes' broad technology portfolio and Bloom Energy's SOFC and SOEC solutions. In addition to hydrogen and clean power, areas of collaboration may include carbon capture and emissions monitoring technologies, digital solutions, and additive manufacturing capabilities.
Early notable gainers among liquid option names on May 3rd » 09:5505/0305/03/21
MHK, GPS, BKR, HAL, UPS
Notable gainers among…
Notable gainers among liquid option names this morning include Mohawk (MHK) $226.09 +20.59, Gap (GPS) $35.63 +2.53, Baker Hughes (BKR) $21.09 +1.01, Halliburton (HAL) $20.34 +0.79, and UPS (UPS) $211.15 +7.29.
Baker Hughes upgraded to Overweight from Equal Weight at Barclays » 06:1605/0305/03/21
Barclays analyst J. David…
Barclays analyst J. David Anderson upgraded Baker Hughes to Overweight from Equal Weight with a price target of $28, up from $25. The analyst also upgraded his industry view on the Oilfield Services and Equipment sector to Positive. He believes the sector is poised to outperform over the next several years as the global oil markets "not only recover by 2023, but upstream spending continues to expand out to 2025 on the back of increasing global demand." The time to own Oilfield Services and Equipment stocks is when upstream spending is increasing and costs are moving higher, Anderson tells investors in a research note. He views the sector as "highly undervalued," saying the stocks are "barely discounting a recovery to 2023 let alone continued spending out to 2025."
|Over a week ago|
Baker Hughes reports U.S. rig count up 2 to 440 rigs » 13:0104/3004/30/21
Baker Hughes reports that…
Baker Hughes reports that the U.S. rig count is up 2 from last week to 440 with oil rigs down 1 to 342, gas rigs up 2 to 96, and miscellaneous rigs up 1 to 2. The U.S. Rig Count is up 32 rigs from last year's count of 408, with oil rigs up 17, gas rigs up 15 and miscellaneous rigs unchanged at 2. The U.S. Offshore Rig Count is up 2 to 13, down 3 year-over-year. The Canada Rig Count is down 4 from last week to 51, with oil rigs up 3 to 20, gas rigs down 7 to 31. The Canada Rig Count is up 24 rigs from last year's count of 27, with oil rigs up 13, gas rigs up 11.
Baker Hughes reports U.S. rig count up 2 to 440 rigs 13:0104/3004/30/21
Fly Intel: Top five analyst upgrades » 09:5304/2604/26/21
BC, SPG, INDB, NOAH, BKR
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Brunswick (BC) upgraded to Buy from Neutral at Citi with analyst Shawn Collins saying with its strategic realignment behind it, Brunswick is "flourishing on the top-line and from a margin perspective." 2. Simon Property (SPG) upgraded to Outperform from In Line at Evercore ISI with analyst Samir Khanal believing there is limited downside risk to estimates in a scenario where tenant fallout is low and a trough in occupancy by the end of the first half is seen. 3. Independent Bank (INDB) upgraded to Buy from Neutral at Seaport Global with analyst David Bishop saying he has raised his 2021 operating EPS estimate partly to reflect Independent's Q1 beat and due to a forecast for much lower credit costs than previously modeled. 4. Noah Holdings (NOAH) upgraded to Overweight from Neutral at JPMorgan with analyst Katherine Lei saying there is potential upside to Noah's Q1 results on the back of "robust growth" of fund sales in China and recurring fee from products sold in 2020. 5. Baker Hughes (BKR) upgraded to Buy from Neutral at Citi with analyst Scott Gruber saying recent underperformance of the shares have driven the valuation to "an attractive level" as the stock is now trading at a valuation that "appears too low" for a company with "one of the best long-term outlooks" in oilfield services. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Baker Hughes upgraded to Buy following underperformance at Citi » 07:4104/2604/26/21
As previously reported,…
As previously reported, Citi analyst Scott Gruber upgraded Baker Hughes to Buy from Neutral with a price target of $27, up from $21. Recent underperformance of the shares have driven the valuation to "an attractive level" as the stock is now trading at a valuation that "appears too low" for a company with "one of the best long-term outlooks" in oilfield services, Gruber tells investors. He cites Baker Huges' exposure to high margin aftermarket in its TPS segment, its growing industrial exposure within Digital Solutions, and the resetting of margins within its core OFS segment. He also sees "expanding avenues" for Baker Hughes to participate in the energy transition, Gruber added.
Baker Hughes upgraded to Buy from Neutral at Citi » 07:3704/2604/26/21
Citi analyst Scott Gruber…
Citi analyst Scott Gruber upgraded Baker Hughes to Buy from Neutral.