Information Provided By:
Fly News Breaks for December 31, 2019
PDS, PTEN, NBR, HP
Dec 31, 2019 | 06:39 EDT
Piper Jaffray Simmons Energy analyst John Watson noted that land drillers' stocks were up 30% on average in Q4, which he sees making the valuations for the group "less compelling." While continued investment in technology will be a clear positive for those with best-in-class rigs - including Helmerich & Payne (HP), Nabors Industries (NBR), Patterson-UTI (PTEN) and Precision Drilling (PDS) - Watson thinks the "inconvenient truth for the land drillers" is that E&P capital discipline will preclude the group from earning its cost of capital in the near-term. Still, he maintains Overweight ratings on Helmerich & Payne, Patterson-UTI and Precision Drilling and has a Neutral rating on Nabors Industries.
News For HP;NBR;PTEN;PDS From the Last 2 Days
There are no results for your query HP;NBR;PTEN;PDS