U.S. energy firms this week cuts oil and natural gas rigs for the second time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday.
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In its weekly release, Baker Hughes (BKR) reports that the total count of oil rigs in the United States was higher than the prior week, and the count for natural gas decreased.
U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday.
The consensus price target hints at a 25.3% upside potential for Baker Hughes (BKR). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.
Management's restructuring is working, particularly in expanding margins in both segments. Natural gas infrastructure, LNG, and new energy orders are supportive of growth at Baker Hughes.
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Strict capital discipline by upstream energy companies is acting as a dampener, thereby making the outlook for the Zacks Oil and Gas- Field Services industry gloomy. SLB, BKR, HLX and SOI are expected to survive the industry challenges.
Baker Hughes (BKR) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Here is how Baker Hughes (BKR) and Canadian Natural Resources (CNQ) have performed compared to their sector so far this year.