Posts for Ticker ‘BJS’

Top Day Trader Alerts (AIG, BJS, BHI, GENZ, FNM, FRE, HGSI, MVL, DIS)

These are Monday’s top day trader and active trader alert stocks.  We have links through to each with more detailed price/volume analysis over at VSinvestor.com:

American International Group (NYSE: AIG) is giving back some of last week’s gains after Barron’s gave a harsh reminder here.

BJ Services Company (NYSE: BJS) is surging on a deal where Baker Hughes Inc. (NYSE: BHI) is acquiring the company….

Genzyme Corporation (NASDAQ: GENZ) is down over 3% on a downgrade and ahead of an FDA review date tomorrow.

Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) are both getting their wings clipped after FBR reminds of no underlying value remaining….

Human Genome Sciences, Inc. (NASDAQ: HGSI) is getting clipped as buyout hopes fade.

Marvel Entertainment, Inc. (NYSE: MVL) is surging after being acquired in a serious surprise merger by Walt Disney Co. (NYSE: DIS).

If you wish to be notified by email when the top day trader alerts hit, along with news of IPO’s, key offerings, guru investor data on Buffett and others, mergers, and more, you can join our open email distribution list which goes out several times per week.

JON C. OGG

Posted on: August 31, 2009 – 9:09 am in Pre-Market Activity, Trading Alert, , , , , , , , ,

Top Analyst Upgrades and Downgrades (AGN, BJS, CTRN, ELN, ENDP, MVL, BTU, TXN, TXRH, TSN)

These are the top 10 analyst upgrades and downgrades we have seen from Wall Street firms early this Monday morning:

  • Allergan (AGN) Raised to Buy at Citigroup.
  • BJ Services (BJS) Cut to Underperform at Wells Fargo.
  • Citi Trends (CTRN) Cut to Neutral at JPMorgan.
  • Elan (ELN) Raised to Buy at UBS.
  • Endo Pharmaceuticals (ENDP) Started as Buy at Citigroup.
  • Marvel Entertainment (MVL) Cut to Neutral at Janney
  • Peabody Energy (BTU) Raised to Outperform at FBR.
  • Texas Instruments (TXN) Raised to Hold from Underperform at Jefferies; Reiterated Sell w/ $14 target at Auriga.
  • Texas Roadhouse (TXRH) Cut to Neutral at Baird.
  • Tyson Foods (TSN) Cut to Hold at Deutsche Bank.

Jon C. Ogg
July 20, 2009

Posted on: July 20, 2009 – 6:25 am in Analyst Calls, , , , , , , , , ,

Top Analyst Downgrades (AYE, AU, BJS, CEO, SLB, WX)

These are some of the general analyst downgrades we have seen this Monday morning from Wall Street:

Allegheny Energy (AYE) Cut to Neutral at Goldman Sachs.
Anglogold (AU) Cut to Neutral at UBS.
BJ Services (BJS) Cut to Hold at Jefferies.
CNOOC (CEO) Cut to Neutral at Credit Suisse.
Schlumberger (SLB) Cut to Hold at Jefferies.
WuXi PharmaTech (WX) Cut to Underperform at Jefferies.

JON C. OGG

Posted on: May 18, 2009 – 6:49 am in Analyst Calls, , , , , ,

Williams, Other Services Companies in Venezuela’s Sights (WMB, HAL, SLB, BJS, BHI)

The Venezuelan government passed a law permitting the nationalization of oil field services companies, compensating companies for expropriating assets by issuing bonds instead of paying with cash. The law could even lead to the annulment of existing contracts.  Williams Companies (NYSE:WMB) appears to be the first target, and Halliburton Company (NYSE:HAL), Schlumberger Ltd. (NYSE:SLB), BJ Services Company (NYSE:BJS), and Baker Hughes Inc. (NYSE:BHI) could all be on the list.

Read More »

Posted on: May 8, 2009 – 9:55 am in Emerging Markets, Oil & Gas, Politics, , , , ,

Top Analyst Downgrades (ARLP, BJS, CHKP, EP, FST, INFY, ISRG, STAR)

These are some of the top pre-market analyst downgrades and negative research calls from Wall Street we have seen early this Tuesday morning:

Alliance Resource (ARLP) Cut to Market Perform at Wachovia.
BJ Services (BJS) Cut to Underweight at JPMorgan.
Checkpoint Software (CHKP) Cut to Hold at Deutsche Bank.
El Paso (EP) Cut to Market Perform at Wachovia.
Forest Oil (FST) Cut to Hold at Jefferies.
Infosys Tech (INFY) Cut to Hold at Societe Generale.
Intuitive Surgical (ISRG) Cut to Market Perfoirm at JMP Securities.
Starent Networks (STAR) Cut to Hold at Cantor Fitzgerald.

JON C. OGG

Posted on: April 28, 2009 – 6:44 am in Analyst Calls, , , , , , , ,

Top Analyst Downgrades (BJS, BUCY, BNI, INTU, JOYG,PBR, TKC, WFMI)

These are some of the top pre-market analyst downgrades we have seen early this Monday morning from Wall Street:

BJ Services (BJS) Cut to Market Perform at Wachovia.
Bucyrus (BUCY) Cut to Neutral at Baird.
Burlington Northern Santa Fe (BNI) Cut to Sell at Citigroup.
Intuit (INTU) Cut to Hold at Jefferies.
Joy Global (JOYG) Cut to Neutral at Baird.
Petroleo Brasileiro (PBR) Cut to Neutral at HSBC.
Turkcell (TKC) Cut to Neutral at UBS.
Whole Foods (WFMI) Cut to Sell at UBS.

JON C. OGG

Posted on: April 27, 2009 – 6:47 am in Analyst Calls, , , , , , , ,

Precision Drilling Wins With Grey Wolf Addition (PDS, BJS, HAL, WFT)

oil-well-image4Precision Drilling Trust (NYSE:PDS) reported net first quarter 2009 earnings per common unit of about $0.26, off 62% from the same period a year ago. Revenues grew almost 31%, from $277 million to $362 million. (Amounts converted from Canadian dollars at US$1=CDN$1.23832.) Analysts had been expecting earnings per unit of $0.36.
Read More »

Posted on: April 22, 2009 – 8:54 am in Earnings, Oil & Gas, , , ,

Another Oilfield Services Firm Falters (BJS, HAL, WFT, SLB)

burning-money-pic16This is turning into a lousy week for oilfield services company. Today’s really downbeat earnings report from BJ Services Co. (NYSE:BJS) follows on yesterday’s weak reports from Halliburton Co. (NYSE:HAL) and Weatherford International Ltd. (NYSE:WFT).
Read More »

Posted on: April 21, 2009 – 8:48 am in Earnings, Oil & Gas, , , ,

Top Analyst Downgrades (APOG, BJS, BJ, HAL, KEG, NBR, OMC, PTEN, PCG, SLB, WMT)

burning-money-pic15These are some of the top pre-market analyst downgrades and negative calls we have seen early this Tuesday morning:

  • Apogee (APOG) Cut to Sell at Piper Jaffray.
  • BJ Services (BJS) Cut to Sector Perform at RBC.
  • BJ’s Wholesale (BJ) Cut to Underperform at Credit Suisse.
  • Halliburton (HAL) Cut to Sector Perform at RBC.
  • Key Energy (KEG) Cut to Sector Perform at RBC.
  • Nabors (NBR) Cut to Sector Perform at RBC.
  • Omnicom (OMC) Cut to Sell at Deutsche Bank.
  • Patterson-UTI (PTEN) Cut to Underperform at RBC.
  • PG&E (PCG) Cut to Neutral at Credit Suisse.
  • Schlumberger (SLB) Cut to Sector Perform at RBC.
  • Wal-Mart (WMT) Cut to Hold from Buy at Citigroup.

JON C. OGG

Posted on: March 10, 2009 – 6:41 am in Analyst Calls, , , , , , , , , , ,

Weatherford: Raising Money the Old-Fashioned Way (WFT, SLB, HAL, BJS, BHI)

Oil field services company Weatherford International Ltd. (NYSE:WFT) announced that it has begun offering Senior Notes due in 2019. A subsidiary of Weatherford "will fully and unconditionally guarantee the notes on a senior unsecured basis." The company plans to use the proceeds, as yet unspecified, to repay its short-term debt.

Read More »

Posted on: January 6, 2009 – 9:07 am in Bonds, Oil & Gas, Secondary Offering, , , , ,

Early Bird Analyst Upgrades (BJS, CHS, FSLR, GNCMA, MDTH, PCS)

These are some of the top early bird upgrades or positive calls from analysts on Wall Street which we have seen early this Tuesday morning:

  • BJ Services (BJS) Raised to Outperform at Wachovia.
  • Chico’s FAS (CHS) Raised to Neutral at UBS.
  • First Solar (FSLR) Started as Overweight at JPMorgan.
  • General Communications (GNCMA) Raised to Outperform at RBC.
  • Medcath (MDTH) Raised to Hold at Citigroup.
  • MetroPCS (PCS) Raised to Outperform at RBC.

Jon C. Ogg
November 18, 2008

Posted on: November 18, 2008 – 7:33 am in Analyst Calls, , , , , ,

Top Analyst Upgrades & Downgrades (ANR, BJS, DL, RIMM, AGU, CF, MNT, POT, TRA)

There are actually very few analyst calls this morning and some of these may even be carry-over calls from late yesterday:

  • Alpha Natural Resources (ANR) raised to buy at UBS.
  • BJ Services (BJS) raised to Equal Weight at Morgan Stanley.
  • China Distance Education (DL) started as buy at Citigroup.
  • Research in Motion (RIMM) raised to outperform but target cut to $110 at Raymond James; raised to neutral from underperform at Credit Suisse.
  • Agrium (AGU) cut to hold at Citigroup.
  • CF Industries (CF) cut to hold at Citigroup.
  • Mentor Corp. (MNT) cut to hold at Jefferies.
  • Potash Corp. (POT) target cut to $250 from $375 at RBC.
  • Research in Motion (RIMM) cut to hold at Canaccord; cut to sector perform at RBC.
  • Terra Industries (TRA) cut to hold at Citigroup.

Jon C. Ogg
September 26, 2008

Posted on: September 26, 2008 – 6:43 am in Analyst Calls, , , , , , , , ,

Oil Services Better Insulated Than Most Energy Sub-Sectors (RIG, DVR, PDS, WFT, NOV, BJS, BHI, BAS, HAL, SLB, SII)

Oil_well_logo_2_2Oil Services are deemed by many market pundits as being more insulated than integrated oils, refiners, and other sub-sectors of the energy sector for oil and gas.  While these frequently move in-line with oil prices and with the sector, they are expected to have much more stable earnings than counterparts elsewhere in the sector.  Many of the oilfield services shares are down nearly 20% or more along with a major drop in oil prices. Transocean’s shares are holding at less than 1% down from 52-week highs, probably on the strength of the company’s bookings.

Transocean Inc. (NYSE: RIG) has given back nearly one-quarter of its value from its highs.  The worst performer among the larger players was CalDive (NYSE:DVR), down 43% from its 52-week high. Precision Drilling Trust (NYSE:PDS) is down about 30%, Weatherford (NYSE:WFT) is off about 27%, and National Oilwell Varco (NYSE:NOV) and BJ Services (NYSE:BJS) are down about 25%. A host of others are off around 20%: Baker Hughes (NYSE:BHI) at 22%; Basic Services (NYSE:BAS) at 21%; Halliburton (NYSE:HAL) at 20%; and Schlumberger (NYSE:SLB) and Smith International (NYSE:SII) are off about 19%.

Read More »

Posted on: August 20, 2008 – 11:17 am in Oil & Gas, , , , , , , , , , ,

Upgrades & Downgrades in Oil & Gas (BHI, SII, HAL, NOV, SLB, WFT, BJS, SE, TTES, NBF)

These are some of the top analyst calls in oil and gas stocks we have seen in the early hours of trading this Tuesday morning.

Citigroup picked up new coverage on many stocks today.  Its new HOLD rated positions are as follows: Baker Hughes (NYSE: BHI) and Smith Intl (NYSE: SII).  Its new BUY rated stocks are as follows:  Halliburton (NYSE: HAL), National Oilwell Varco (NYSE: NOV), and Schlumberger (NYSE: SLB).  Citi also made two downgrades as both Weatherford (NYSE: WFT) and BJ Services (NYSE: BJS) were downgrades to HOLD from BUY ratings.

UBS has also made a select call on Spectra Energy (NYSE: SE) as it was started as a BUY rating.

Jefferies started coverage on T-3 Energy Services Inc. (NASDAQ: TTES) as a BUY rated stock. Jefferies also downgraded Nova Biosource Fuels (AMEX: NBF) to HOLD from BUY.

Jon C. Ogg
July 1, 2008

Posted on: July 1, 2008 – 7:38 am in Analyst Calls, Oil & Gas, , , , , , , , , ,

More Bad News from the Oil Patch (BHI, BJS, SII)

Three more oil field services companies reported earnings today, and there isn’t much good news in any of the announcements. Baker Hughes (NYSE:BHI) reported EPS of $1.27, which includes a one-time gain of $0.06/share, on revenue of $2.67 billion. First Call estimates were EPS of $1.20 on revenue of $2.69. In pre-market trading this morning, the stock has been off more than $1.00.

BJ Services (NYSE:BJS) reported EPS of $0.43 on revenue of $1.28 billion, missing First Call estimates of $0.55/share and revenue of $1.26 billion. The stock is being punished, down nearly $5.00 in pre-open trading.

Smith International (NYSE:SII) matched First Call estimates exactly, reporting EPS of $0.87 on revenue of $2.37 billion. SII closed at $78.01 yesterday, near its 52-week high, and there’s been no pre-open trading yet today. But, it’s hard to see how SII can avoid the sector meltdown.

Combined with yesterday’s announcements, the market for oil field services stocks is definitely downbeat. EPS and revenue growth estimates are modest for the whole sector, about 4%-5% for 2008. North American growth is expected to pick up somewhat, but mostly in the Canadian oil sands. Pricing pressure is also expected to continue in North America.

Every company is looking to grow its international business, but it’s hard to see how any single company comes up the big winner in that scenario. The Saudis are not expanding exploration or production, Russian oil production is actually falling, West Africa is fraught with danger, and even the new discoveries offshore Brazil won’t be in play for some time.

Tough pricing competition and anticipated lower levels of E&P by the majors point to lower expectations for the sector for the remainder of 2008.

Paul Ausick

Posted on: April 22, 2008 – 8:37 am in Earnings, , ,

Oil Services Earnings, Round Two (BHI, BJS, SII)

We have already seen some of the larger oil services companies report earnings between Monday and Friday, so far with little cheers today.  On Tuesday, we’ll get to see earnings report from additional players like Baker Hughes Inc. (NYSE: BHI), BJ Services Company (NYSE: BJS), and Smith International Inc. (NYSE: SII).  As of the last available data, these earnings all look set for Tuesday, April 22, in the pre-market hours.

Tuesday morning we’ll get to see earnings out of Baker Hughes Inc. (NYSE: BHI). The estimates for the oil services company from First Call are $1.20 EPS on $2.69 billion in revenues.  Next quarter estimates are $1.25 EPS on $2.78 billion in revenues. Estimates for fiscal Dec-2008 are $5.27 EPS on $11.42 billion in revenues.  Analysts have an average price target of $88.00, and Baker Hughes’ 52-week trading range is $62.65 to $100.29.

Tuesday morning we’ll get to see earnings out of BJ Services Company (NYSE: BJS). The estimates for the oil services company from First Call are $0.55 EPS on $1.30 billion in revenues.  Next quarter estimates are $0.50 EPS on $1.26 billion in revenues. Estimates for fiscal Sept-2008 are $2.23 EPS on $5.18 billion in revenues.  Analysts have an average price target of $30.00, and BJ Services Company’s 52-week trading range is $19.30 to $33.29.

Tuesday morning we’ll get to see earnings out of Smith International Inc. (NYSE: SII). The estimates for the oil services company from First Call are $0.87 EPS on $2.37 billion in revenues.  Next quarter estimates are $0.89 EPS on $2.38 billion in revenues. Estimates for fiscal Dec-2008 are $3.76 EPS on $9.88 billion in revenues.  Analysts have an average price target of $73.00, and Smith International’s 52-week trading range is $49.51 to $77.60.

Jon C. Ogg
April 21, 2008

Posted on: April 21, 2008 – 12:37 pm in Uncategorized, , ,

Goldman Sachs on Canadian Oil Drilling (BJS, HAL, WFT, CAM, SII, FTI)

Goldman Sachs issued its first of a 3-part conference call covering the Canadian market, and it noted that the stimulation outlook is improving.  Its preference in the first of three notes is for oil service stocks with a higher exposure to gas in the near-term.  It favors BJ Services (NYSE: BJS), Halliburton (NYSE: HAL), and Weatherford (NYSE: WFT) over more oil-dominant related names like Cameron International Corporation (NYSE: CAM), Smith International Inc. (NYSE: SII), and FMC Technologies, Inc. (NYSE: FTI).

Most of the upside here is due to a limited new drilling activity in North America in the second half of 2008 and into 2009, which is combined with significantly higher natural gas prices.  It also notes that oil drillers will be dependent upon new rig additions.

Jon C. Ogg
March 18, 2008

Posted on: March 18, 2008 – 6:57 am in Analyst Calls, Oil & Gas, , , , , ,

Goldman Sachs Key Oil Services Research Changes (WFT, DO, SLB, BHI, DRC, BJS, DO)

Goldman Sachs is rolling its primary coverage responsibilities for oil services stocks to Charles Minervino from Arjun Murti and Daniel Boyd.  Murti is remaining the lead Oils analyst at Goldman Sachs; and Boyd will continue to co-cover the services sector and will maintain the lead coverage of drillers and OSV’s.  Below are some key coverage changes:

  • Weatherford (WFT) is being ADDED to the CONVICTION BUY LIST.
  • Schlumberger (SLB) raised to Buy from Neutral, $106 price target remains.
  • Dresser Rand (DRC) raised to Neutral from Sell, target raised from $35 to $40.
  • BJ Services (BJS) downgraded to Sell from Neutral, target cut from $26 down to $23.
  • Baker Hughes (BHI) downgraded to Neutral from Buy, target cut from $96 to $90.
  • Diamond Offshore (DO) REMOVED from the CONVICTION BUY LIST but maintained Buy with slight estimate decrease.

Jon C. Ogg
December 18, 2007

Posted on: December 19, 2007 – 8:31 am in Analyst Calls, Oil & Gas, , , , , ,

Short Selling Energy, Oil & Gas Stocks (June 2007)

Stock Tickers: VLO, XOM, CVX, COP, SLB, HAL, OIH, HES, PBR, MRO, BHI, RIG, BJS, WMB, GSF, BP, VLO, WFT, NOV, HES

Higher and higher oil prices got you down?  They definitely don’t do wonder for the people increasing their short selling bets against stocks across the various groups of the Oil & Gas sector.  Here is a list of many key (mostly US-based) stocks spread across the various segments inside the energy patch.  It’s amazing that short selling rises as commodity prices biased upward and oil close to $70.00 per barrel.

Increases in short interest:

Stock (Ticker)                                  JUNE    MAY            Change
Exxon Mobil (XOM)                       49.65M   46.6M         +6.55%
Chevron (CVX)                              31.17M   30.79M      +1.2% 
ConocoPhillips (COP)                21.38M    17.37M      +23%
Marathon Oil (MRO)                     11.65M    5.62M        +3.6%      
Baker Hughes (BHI)                    15.38M    13.44M     +14.4% 
Transocean (RIG)                        16.27M    14.7M        +10.6%    
BJ Services (BJS)                         21.57M    19.21M     +12.3%
‘PetroBras’ (PBR)                            4.84M      3.15M       +53%
Williams Companies (WMB)      20.25M     17.93M     +12.9%
Oil Service HOLDRs(OIH)           20.9M     19.0M         +10%
GloabalSantaFe (GSF)                 10.7M      9.24M        +15.8%

Decreases in short interest

Stock (Ticker)                                  JUNE         MAY        Change
BP plc (BP)                                     5.945M       6.61M        -10%
Valero (VLO)                                   29.06M      46.05M      -36.8%
Schlumberger (SLB)                     20.94M      31.28M      -30%
Halliburton (HAL)                           44.27M      47.32M      -6.4%
Weatherford (WFT)                        17.93M      19.22M      -6.7%
Nat’l Oilwell Varco (NOV)               7.59M        8.06M        -5.8%
Hess Corp. (HES)                             6.4M        6.42M        -0.4%

Jon C. Ogg
June 22, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: June 22, 2007 – 1:40 pm in Oil & Gas, Short Interest, , , , , , , , , , , , , , , , , ,

More Under-Dividend Stocks

Stock Tickers: APA, BHI, BJS, CHK, DVN, ESV, XTO, VLO

After digging through the Barron’s list of "under-dividend" companies, something else came back to mind again: there are too many energy companies with tiny P/E ratios that yield under 1%.  This is only some because there is a subjective group of companies.  It is possible that some may have decided to bump their dividends, but here are eight more "under-dividend" energy related stocks that could all be dividend hiking candidates:

Company (Ticker)                      Yield    P/E
Apache (APA)                             0.8%    10.9
Baker Hughes (BHI)                 0.6%    11.0
BJ Services (BJS)                     0.7%    11.0
Chesapeake Energy (CHK)    0.7%    10.4
Devon Energy (DVN)                 0.7%    12.6
Valero (VLO)                               0.7%    8.0
XTO Energy (XTO)                     0.9%    12.1
Ensco (ESV)                               0.2%    10.7

The truth is that these companies are all probably looking at other alternatives and opportunities and these have frequently reserved cash for outside opportunities.  If they aren’t going to make acquisitions that will help solidify their operations, then these should all start loosening up the hold on their wallets.

Shareholders now have more power then in prior times.  Activist shareholders force all sorts of action now, so if a company isn’t being generous enough with shareholders then it might be their own fault.

Jon C. Ogg
May 19, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: May 19, 2007 – 12:00 pm in Dividend, , , , , , , ,