Oil Service Stocks Show Their Muscle
We are big fans of oil service stocks and are always trying to keep folks updated on the good and bad news. This time around we have some good news! It seems that the oil service stocks are showing off their strengths in the current markets. Canacord Genuity gives a list of some of the best out on the market right now.
' “We are raising the offshore drillers’ earnings estimates across the board.Noble (NE) and Ensco (ESV) see the biggest increases, while Atwood has the smallest increase.”
He concluded that, “We continue to favor [Atwood] ATW and [Ensco] ESV for their strong growth profiles through 2014, attractive valuations and ESV’s dividend yield. Although up 19% and 20%, respectively, both have underperformed their peers YTD. We believe [Transocean] RIG seems to be the most over-bought (up 40% YTD) after recent upside on 2012 EPS increases and the nearness of a Macondo settlement.” '
Find additional chart research here: http://turnkeyoil.com/2012/03/16/oil-service-stocks-show-their-muscle/