Recalibrating Pressure-Pumping Forecasts With 2016 Full-Year Results; Bearish View Still in Place
After incorporating the 2016 full-year results into our models for several pressure pumpers and slightly recalibrating our outlook for each, we are lowering our fair value estimate for Superior Energy Services from $14.50 to $14 and raising our fair value for Patterson-UTI Energy from $13.25 to $14.25. Our fair value estimate of $14 per share for RPC remains unchanged. Currently, RPC and Patterson appear very overvalued, whereas Superior is fairly valued.We have downgraded our forecasts for Su...
Superior Energy Services provide services and products to the energy industry. The company serves national and independent oil and natural gas exploration and production companies around the world. The company reports its operating results in four business segments: Drilling Products and Services, which include downhole drilling tools and surface rentals; Onshore Completion and Workover Services, which include pressure pumping, fluid management and workover services; Production Services, which include intervention services used to maintain and extend oil and gas production; and Technical Solutions, which include include completion tools and services, well control services and subsea well intervention.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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