Aggregated price index with volume information
Summary:
- The momentum of the sector is very strong.
- Contract Drilling stocks down 0.1% on average while median return down 0.3% in a day
- Contract Drilling stocks up 5.5% on average while median return up 2.6% in a week
- Contract Drilling stocks up 11.7% on average while median return up 8.9% in a month
- When average return is significantly different from median return, this implies an asymmetry - composite return is driven by some outliners.
Aggregated price index (close) is based on equal weighted constituencies returns. Average short volume and average total volumes are averaged across all volume data among constituencies.
- 1M winners are : Winners for past month are $NBR 46.2%, $HPK 18.7%, $HP 13.9%, $RIG 11.8%, $ICD 10.4%
- 1M losers are : Losers for past month are
- 1W winners are : Winners for past week are $NBR 24.0%, $RIG 10.1%, $HP 4.9%, $SDRL 4.4%, $DO 2.9%
- 1W losers are : Losers for past week are $HPK -1.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 46.3%, for the past 3 months is 45.4%
In the past month for a 5 days rolling window, the highest corrrelation is 61.4%, the lowest correlation is 10.3%, the latest correlation is 42.3%
When a correlation deviated from the normal level and goes lower or even negative, it indicates some of stocks have deviated from the normal direction of the group. The deviation could reverse if long term level of correlation was at a higher level. It creates trading opportunities and deserves study whether the deviation is idiosyncratic or systematic.
Among pairwise correlation, the highest correlation is 94.2% between DO and NE
The lowest correlation is -19.6% between BROG and ICD
Shell (SHEL) beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other, resulting in an earnings surprise of 9.2%, on average.
Transocean (RIG) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Nabors (NBR) anticipates third-quarter 2024 capital expenditures to range between $190 and $200 million, including $80 to $85 million allocated for new projects in Saudi Arabia.
Nabors (NBR) delivered earnings and revenue surprises of -142.37% and 0.03%, respectively, for the quarter ended June 2024. Do the numbers hold clues to what lies ahead for the stock?
Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) today reported second quarter 2024 operating revenues of $735 million, compared to operating revenues of $734 million in the first quarter. The net loss attributable to Nabors shareholders for the quarter was $32 million, compared to a net loss of $34 million in the first quarter. This equates to a loss of $4.29 per diluted share, compared to a loss per diluted share of $4.54 in the first quarter. Second quarter adjusted EBITDA was $
Precision Drilling (PDS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The Zacks Earnings ESP is a great way to find potential earnings surprises. Why investors should take advantage now.
FORT WORTH, Texas, July 22, 2024 (GLOBE NEWSWIRE) -- HighPeak Energy, Inc. (NASDAQ: HPK) (“HighPeak Energy”), today announced that it plans to release its 2024 second quarter financial and operating results after the close of trading on Monday, August 5, 2024. HighPeak Energy will host a conference call and webcast on Tuesday, August 6, 2024 at 10:00 a.m. Central Time for investors and analysts to discuss its 2024 second quarter financial results and operational highlights. Participants may regi
The stock is also having trouble with finding support currently
Globally, GDP growth deceleration has been a concern this year. However, it’s worth noting that crude oil has trended higher by 16% even amidst macroeconomic challenges. I expect the positive momentum to sustain, and I believe it’s a good time to look at oil & gas stocks to buy now. One reason to be positive about crude is high geopolitical tensions. In the coming years, there will be a geopolitical premium attached to crude oil prices. The second reason to be bullish is the possibility of rate