Stock-Callers.com has lined up for evaluation four Oil and Gas Drilling and Exploration stocks, namely: Transocean Ltd (NYSE: RIG), SeaDrill Ltd (NYSE: SDRL), Whiting Petroleum Corp. (NYSE: WLL), and Pioneer Energy Services Corp. (NYSE: PES). The Oil and Gas Drilling industry consists of companies engaged in oil and gas drilling services on a contract basis. Services include directional drilling, well drilling, and reconditioning of oil and gas field wells.
Transocean
Shares in Vernier, Switzerland-based Transocean Ltd rose 1.05%, ending Tuesday's trading session at $10.61. The stock recorded a trading volume of 8.62 million shares. The Company's shares are trading 8.96% below their 50-day moving average. Moreover, shares of Transocean, which together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide, have a Relative Strength Index (RSI) of 42.16.
On May 05th, 2017, Transocean announced that Transocean Conqueror Limited, one of its indirect subsidiaries, closed a private offering of $410 million in senior secured notes with an annual rate of 5.52%, and maturing in 2022. The net proceeds of approximately $403 million from the notes will be used primarily for the purpose of partially financing the construction of the Deepwater Conqueror.
On May 08th, 2017, research firm R. F. Lafferty reiterated its 'Buy' rating on the Company's stock with a decrease of the target price from $21 a share to $16 a share.
SeaDrill
Hamilton, Bermuda headquartered SeaDrill Ltd's stock surged 12.40%, closing the day at $0.59. A total volume of 22.31 million shares was traded, which was above their three months average volume of 11.71 million shares. The Company's shares are trading 36.35% below their 50-day moving average. Additionally, shares of SeaDrill, which provides offshore drilling services to the oil and gas industry worldwide, have an RSI of 37.28.
On May 17th, 2017, SeaDrill announced that it is scheduled to release its Q1 2017 results on May 24th, 2017. In connection with the earnings release, a conference call will be held at 12:00 p.m. EDT on that same day. The presentation material may be downloaded from the Company's website.
Whiting Petroleum
On Tuesday, shares in Denver, Colorado-based Whiting Petroleum Corp. recorded a trading volume of 8.77 million shares. The stock ended the day 0.34% lower at $8.69. The Company's shares have advanced 7.82% in the past month, and are trading below their 50-day moving average by 0.33%. Furthermore, shares of Whiting Petroleum, which engages in the development, production, acquisition, and exploration of crude oil, natural gas liquids, and natural gas primarily in the Rocky Mountains region of the US, have an RSI of 54.03.
On April 26th, 2017, Whiting Petroleum announced Q1 2017 production of 10.6 million barrels of oil equivalent, comprised of 84% crude oil/natural gas liquids. Production during the quarter averaged 117,360 barrels of oil equivalent per day, at the high end of guidance. Lease operating expense for the three months ended March 31st, 2017, benefited from a comprehensive water-handling plan and a maintenance program that has reduced well downtime across the Company's properties.
On May 10th, 2017, research firm FBR & Co. reiterated its 'Market Perform' rating on the Company's stock with a decrease of the target price from $13 a share to $11 a share.
Pioneer Energy Services
San Antonio, Texas-based Pioneer Energy Services Corp.'s stock dropped 3.45%, finishing yesterday's session at $2.80 with a total trading volume of 620,964 shares. The Company's shares are trading below their 50-day moving average by 22.37%. Shares of the Company, which provides land-based drilling and production services to oil and gas exploration and production companies in the US and Colombia, have an RSI of 37.86.
On May 16th, 2017, Pioneer Energy Services announced that its senior management will participate in the UBS Global Oil & Gas Conference on May 24th, 2017 in Austin, TX. Wm. Stacy Locke, Pioneer's President and CEO, will make a presentation at 12:55 p.m. ET. The presentation will provide an update on the Company's operations and recent developments.
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