Oil & Gas Stocks under Review -- Petroleo Brasileiro, Ensco, SeaDrill, and Nabors Industries
NEW YORK, December 5, 2016 /PRNewswire/ --
Stock-Callers.com revisits the Oil and Gas Drilling and Exploration segment to see how current oil prices have influenced the most recent performances of select equities. Under evaluation are Petroleo Brasileiro S.A. - Petrobras (NYSE: PBR-A), Ensco PLC (NYSE: ESV), SeaDrill Ltd (NYSE: SDRL), and Nabors Industries Ltd (NYSE: NBR). On Friday, December 02, 2016, oil prices edged higher following OPEC's decision to cut crude output. Brent crude futures were up 41 cents at $54.35 per barrel by 2:37 p.m. ET (1937 GMT), while U.S. West Texas Intermediate (WTI) futures settled up 62 cents, or 1.2%, at $51.68. Learn more about these stocks by downloading their free research reports in PDF format at: http://stock-callers.com/registration
Petroleo Brasileiro
Last Friday at the close, shares in Brazil headquartered Petrobras ended 1.91% higher at $9.05. The stock recorded a trading volume of 11.04 million shares. The Company's shares have advanced 9.04% in the previous three months and 166.18% since the start of this year. The stock is trading above its 200-day moving average by 35.11%. Furthermore, shares of Petroleo Brasileiro, which operates as an integrated energy company in Brazil and internationally, have a Relative Strength Index (RSI) of 47.94.
On November 30th, 2016, Petrobras announced that the Extraordinary General Meeting of Shareholders (EGM) approved the sale of 90% of its stake in Nova Transportadora do Sudeste, for USD 5.194 billion, to fund Nova Infraestrutura Fundo de Investimento em Participações, managed by Brookfield Brasil Asset Management Investimentos Ltda. The transaction is part of the Company's USD 15.1 billion divestment plan for the 2015-2016 biennium and is still subject to compliance with the precedent conditions laid down in the contract. At the EGM, the name of Mr. Marcelo Mesquita de Siqueira Filho was also approved as Board member elected by the minority stockholders. Sign up and read the free research report on PBR-A at: http://stock-callers.com/registration/?symbol=PBR-A
Ensco
London, the UK headquartered Ensco PLC's stock finished Friday's session 2.73% lower at $9.63 with a total trading volume of 8.71 million shares. The Company's shares have advanced 26.01% in the last one month and 29.22% over the previous three months. The stock is trading above its 50-day and 200-day moving averages by 16.59% and 3.53%, respectively. Additionally, shares of Ensco, which provides offshore contract drilling services to the oil and gas industry worldwide, have an RSI of 62.33.
On December 02nd, 2016, research firm Bernstein initiated an 'Outperform' rating on the Company's stock. The complimentary research report on ESV can be downloaded at: http://stock-callers.com/registration/?symbol=ESV
SeaDrill
Shares in Hamilton, Bermuda-based SeaDrill Ltd ended the session 4.22% lower at $2.95. A total volume of 13.24 million shares was traded, which was above their three months average volume of 9.52 million shares. The stock has surged 45.32%% in the past month and 21.90% over the previous three months. The Company's shares are trading above their 50-day moving average by 25.37%. Moreover, shares of SeaDrill, which provides offshore drilling services to the oil and gas industry worldwide, have an RSI of 65.08.
On November 22nd, 2016, Seadrill reported net loss of $656 million and diluted loss per share of $1.29 in Q3 2016, reflecting an $882 million non-cash impairment to investments primarily relating to Seadrill Partners. Underlying net income, excluding non-recurring items and non-cash mark to market movements on derivatives, was $135 million and earnings per share were $0.28. For Q3 2016, the Company reported revenue of $743 million and operating income of $247 million. Register for free on Stock-Callers.com and access the latest report on SDRL at: http://stock-callers.com/registration/?symbol=SDRL
Nabors Industries
Hamilton, Bermuda headquartered Nabors Industries Ltd's shares recorded a trading volume of 8.48 million shares, which was above their three months average volume of 7.24 million shares. The stock closed 3.46% higher at $17.05. The Company's shares have gained 50.49% in the past month, 69.07% in the previous three months and 104.00% on an YTD basis. The stock is trading 34.53% above its 50-day moving average and 68.70% above its 200-day moving average. Additionally, shares of Nabors Industries, which together with its subsidiaries, provides drilling and rig services, have an RSI of 77.00.
On December 02nd, 2016, Nabors Industries announced that its wholly owned subsidiary, Nabors Industries, Inc. ("NII"), has priced $600,000,000 in aggregate principal amount of its 5.5% senior unsecured notes due 2023, in the private placement offering. The closing of the sale of notes is expected to occur on or about December 09th, 2016. The proceeds from the notes are intended to be used to prepay the $162.5 million portion due in 2018 under NII's $325.0 million unsecured term loan and all amounts currently outstanding under NII's unsecured revolving credit facility, which matures in 2020.
On December 02nd, 2016, research firm Bernstein initiated an 'Outperform' rating on the Company's stock. Get free access to your research report on NBR at: http://stock-callers.com/registration/?symbol=NBR
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