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Chevron Corporation (CVX) - free report >>
Exxon Mobil Corporation (XOM) - free report >>
Schlumberger Limited (SLB) - free report >>
Halliburton Company (HAL) - free report >>
Baker Hughes Company (BKR) - free report >>
iShares U.S. Oil Equipment & Services ETF (IEZ) - free report >>
SPDR S&P Oil & Gas Equipment & Services ETF (XES) - free report >>
Oil Services Stocks & ETFs Jump on Blockbuster Earnings
Energy is the best performing sector again this year as oil prices stay elevated thanks to continued supply-demand imbalances. The rally is now being driven by oilfield services stocks as many of these companies reported blockbuster profits recently.
Schlumberger (SLB - Free Report) , which rebranded as SLB last month, posted 28% year-over-year top-line growth, while Halliburton’s (HAL - Free Report) earnings more than doubled in the third quarter. After many years of underinvestment, energy giants like Exxon Mobil (XOM - Free Report) and Chevron (CVX - Free Report) are willing to spend more for technological enhancements, which benefits oil services companies.
The VanEck Oil Services ETF (OIH - Free Report) invests in 25 largest and most liquid oil services companies. Schlumberger, Halliburton and Baker Hughes (BKR - Free Report) are its top holdings.
The SPDR S&P Oil & Gas Equipment & Services ETF (XES - Free Report) tracks an equal-weighted index and is tilted toward smaller companies. The iShares U.S. Oil Equipment & Services ETF (IEZ - Free Report) follows a modified market-cap weighting methodology.
To learn more, please watch the short video above.