Pritchard Capital Provides Color on Oil Sector

Pritchard Capital provided color on the oil sector. In a research report published today, Pritchard states, “The Oil Service Index (OSX-269.67) advanced 8.4% last week to outperform the S&P 500 (1,339.67) by 280 basis points. Oil service shares, at least within our coverage universe, largely traded up last week with many of the stocks posting upper single- and even double-digit gains… The two top performers were small cap names Basic Energy Services, Inc. (BAS-$32.50) and Pioneer Drilling Co. (PDC-$15.61), which appreciated 16% each. Also notable was the 14% gain posted in shares of Complete Production Services, Inc. (CPX-$34.35).” On Friday, Basic Energy Services BAS added 3.27% to its value to finish the week at $32.50, while Pioneer Drilling PDC rose 2.43% to close the day at $15.61. Complete Production Services CPX completed the good day for the oil sector stocks by adding 2.97% to its value to finish the day at $34.35.