Goldman Sachs: Oil Services Stocks are Attractive for These Reasons

Goldman Sachs (NYSE:GS) returns to covering oil service stocks (NYSE:OIH), bestowing an Attractive rating and remarking that “U.S. land rig demand has just entered the second phase of a multi-year pickup.” Helmerich & Payne (NYSE:HP) and Halliburton (NYSE:HAL) are put on the Conviction Buy List after a 35% slump from its recent spike and priced close to past cyclical-low multiples.

Here’s how top oil service stocks are trading on the upgrade:

Helmerich & Payne Inc. (NYSE:HP): HP shares recently traded at $59.15, down $0.44, or 0.74%. They have traded in a 52-week range of $35.58 to $73.40. Volume today was 640,325 shares versus a 3-month average volume of 1,871,820 shares. The company’s trailing P/E is 14.84, while trailing earnings are $3.99 per share. Get the most recent company news and stock data here >>

Halliburton Company (NYSE:HAL): HAL shares recently traded at $33.76, up $0.36, or 1.08%. They have traded in a 52-week range of $27.21 to $57.77. Volume today was 10,800,693 shares versus a 3-month average volume of 19,843,800 shares. The company’s trailing P/E is 12.24, while trailing earnings are $2.76 per share. Get the most recent company news and stock data here >>

Schlumberger Limited (NYSE:SLB): SLB shares recently traded at $73.43, down $1.66, or 2.21%. They have traded in a 52-week range of $54.79 to $95.64. Volume today was 3,487,772 shares versus a 3-month average volume of 11,819,400 shares. The company’s trailing P/E is 21.71, while trailing earnings are $3.38 per share. Get the most recent company news and stock data here >>

Baker Hughes Incorporated (NYSE:BHI): BHI shares recently traded at $50.03, down $0.69, or 1.36%. They have traded in a 52-week range of $41.91 to $81.00. Volume today was 3,090,855 shares versus a 3-month average volume of 6,513,570 shares. The company’s trailing P/E is 12.42, while trailing earnings are $4.03 per share. Get the most recent company news and stock data here >>

Transocean Ltd. (NYSE:RIG): RIG shares recently traded at $43.09, down $2.3, or 5.07%. They have traded in a 52-week range of $41.28 to $85.98. Volume today was 3,436,586 shares versus a 3-month average volume of 7,304,270 shares. The company’s trailing earnings are $-1.25 per share. Get the most recent company news and stock data here >>

Oceaneering International, Inc. (NYSE:OII): OII shares recently traded at $46.89, down $0.97, or 2.03%. They have traded in a 52-week range of $31.77 to $49.26. Volume today was 176,522 shares versus a 3-month average volume of 1,130,730 shares. The company’s trailing P/E is 22.66, while trailing earnings are $2.07 per share. Get the most recent company news and stock data here >>

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