No matter what commodity prices do in 2017, these energy stocks should thrive.
OPEC’s agreement to cut production fueled double-digit rallies in Atwood Oceanics, Hornbeck Offshore Services, Denbury Resources, Whiting Petroleum, and Oasis Petroleum this week.
The entire oil and gas industry was up big in November, but the gains for offshore oil services specialists may be getting ahead of themselves.
The news that OPEC was cutting production and that a Trump administration could open up some new oil and gas opportunities had even the biggest names in the business soaring double digits last month.
Unit Corporation, Nabors Industries, Patterson UTI Energy, Precision Drilling, and Helmerich & Payne all saw big gains last month.
OPEC has announced it will cut oil production, and energy markets are celebrating. But it's probably too soon to call this a victory for offshore drillers.
A little less production from OPEC makes investors think oil services companies will get a little more business from non-OPEC producers.
GE and Baker Hughes have announced an epic merger.
Expected gains into the next quarter suggest that the coming fiscal year will be much, much better than what we saw in 2016.
Pay attention investors: The knowledge bombs that CEO Dave Lesar dropped on the company's most recent conference call should be included in your investment thesis for the industry.