Oil & Gas Equipment & Services

Following Schlumberger's (NYSE: SLB) strong Q4 2010 results of $0.85 per share “versus our estimate of $0.80 per share and consensus of $0.78 per share, our 2011 modeling now incorporates higher North American revenues and slightly higher margins than previously, offset by some more conservative...

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting an increase in the number of land rigs. The Baker Hughes rig count, issued since 1944,...

Major oilfield services provider Halliburton Co. (HAL) reported better-than-anticipated fourth-quarter 2010 results. This was helped by the strength and sustainability of the all-important North American onshore activity levels (to which the company is heavily exposed through its market-share-...

Jefferies is reiterating its Buy rating and increasing its PT on Schlumberger (NYSE: SLB). “Reported 4Q operating EPS of $0.85 versus our $0.76 estimate, the $0.77 Consensus and 3Q10 EPS of $0.70. EPS was bolstered by about $0.02 from an early payout on an IPM job and a lower tax rate added a $0.01...

Major oilfield services provider Halliburton Co. (HAL) reported better-than-anticipated fourth-quarter 2010 results. This was helped by the strength and sustainability of the all-important North American onshore activity levels (to which the company is heavily exposed through its market-share-...

Cameron (NYSE: CAM) has received an order for the supply of subsea production systems for a deepwater and offshore gas processing and pipeline project in the South China Sea. The project will include subsea equipment, as well as an agreement to provide additional services across the life of the...

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting an increase in the number of land rigs. The Baker Hughes rig count, issued since 1944,...

Jefferies is out with its Energy Update and picked Helix Energy Solutions (NYSE: HLX) as its spotlight of the week. In a note to clients, Jefferies writes, "Helix Energy Solutions Group announced that it has executed agreements for its Helix Fast Response System (HFRS) to be named as a spill...

Jefferies & Company has raised the price target on Schlumberger (NYSE: SLB) from $94 to $96 and maintains its Buy rating.

Here are Monday's Daily Long and Short Setups... LONG: Schlumberger (SLB)   Read more...

The U.S. Energy Department's weekly inventory release showed a larger-than-expected drop in natural gas supplies, attributable to considerably colder-than-normal weather conditions. The Weekly Natural Gas Storage Report brought out by the Energy Information Administration (EIA) every Thursday...