Barclays Names Top Diversified Services Company Stocks with Analysis: Energy Business Review
Barclays likes a number of diversified services companies, including those of Baker Hughes (NYSE:BHI), Halliburton Company (NYSE:HAL), Schlumberger Limited (NYSE:SLB) and Weatherford International (NYSE:WFT), as the analyst’s survey indicates that oilfield activity outside North America will fuel a 7 percent rise in 2013 global energy exploration and production spending to a record peak of $644 billion. The analyst added that budgets will grow by 9 percent in international markets to $460 billion, while expenditures in North America will “take a breather” following years of growth and stay approximately flat in 2013, according to a survey of more than 300 oil and gas companies. Further, the busiest regions should be Australasia, Latin America, and the Middle East, although growth will be widespread, says Barclays. Among offshore drillers, the best value in stocks included Noble Energy (NYSE:NBL) and Rowan Companies.
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