Barclays Raises Price Targets for Oil Services Industry Stocks

Bidness ETC - ENERGY

Bidness ETC – ENERGY

Barclays has raised its target prices for ten of the major players in the oil services industry. Barclays has based the new target prices on expectations that global E&P (exploration and production) spending will increase 6.1%, up from $682 billion in 2013 to an all-time high of $723 billion in 2014.

The biggest revision is in the price target for Halliburton (HAL), and Barclays now sees a 74.3% upside in the stock price.

The increase in E&P spending in the industry has been directly proportional to oil prices and production growth. This correlation has remained consistent over the past four years and is expected to continue in 2014, as the industry further shifts into the development stage, and operators take advantage of attractive ‘well economics’ and premium service technologies.

Read More : BCS - SLB - SPN - OII - NOV - HAL - GLF - DRQ - CJES - BHI - CAM

 

About these ads

Tagged: , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

%d bloggers like this: