NEW YORK, September 9, 2016 /PRNewswire/ --
Operators in the Oil and Gas Equipment and Services industry play a crucial role in the upstream sector and account for a huge share of oil and gas spending. Pre-market, Stock-Callers.com reviews the most recent performances of four equities in this space: TETRA Technologies Inc. (NYSE: TTI), Hornbeck Offshore Services Inc. (NYSE: HOS), Forum Energy Technologies Inc. (NYSE: FET), and Flotek Industries Inc. (NYSE: FTK). Register now and get full and free access to our downloadable research reports on these stocks at:
The Woodlands, Texas headquartered TETRA Technologies Inc.'s shares gained 2.71%, closing Thursday's trading session at $6.45. The stock recorded a trading volume of 903,854 shares. Shares of the Company have advanced 4.20% in the last month and 0.16% in the previous three months. The stock is trading 4.34% above its 50-day moving average and 1.08% above its 200-day moving average. Additionally, shares of TETRA Technologies, which together with its subsidiaries, operates as a diversified oil and gas services company, have a Relative Strength Index (RSI) of 55.70.
On August 8th, 2016, TETRA Technologies announced that it has acquired 874,891 Series A Convertible Preferred Units from CSI Compressco L.P. at a price of $11.43 per unit, for total consideration of $10 million, as part of the Partnership's total offering of $50 million of such units. When the private placement is complete, TETRA's ownership interest in CSI Compressco will be 42.4% of the outstanding common units, 20% of the outstanding preferred units, and the approximately 2% general partner interest, including IDRs.
On August 11th, 2016, research firm Morgan Stanley initiated an 'Overweight' rating on the Company's stock. Access our complete research report on TTI for free at:
Hornbeck Offshore Services
On Thursday, shares in Covington, Louisiana headquartered Hornbeck Offshore Services Inc. recorded a trading volume of 1.65 million shares, which was above their three months average volume of 1.03 million shares. The stock edged 11.58% higher, ending the day at $5.78. The Company's shares are trading below their 50-day moving average by 18.26%. Furthermore, shares of Hornbeck Offshore Services, which together with its subsidiaries, provides marine transportation, subsea installation, and accommodation support services to exploration and production, oilfield service, offshore construction, and the U.S. military customers, have an RSI of 44.37.
On August 3rd, 2016, the company recorded a net loss for Q2 2016 of $(20.6) million, or $(0.57) per diluted share, compared to net income of $19.2 million, or $0.53 per diluted share, for the year-ago quarter. Revenues were $53.7 million for Q2 2016, a decrease of $82.7 million, or 60.6%, from $136.4 million for Q2 2015.
On August 05th, 2016, research firm Iberia downgraded the Company's stock rating from 'Sector Perform' to 'Underperform'. The complimentary research report on HOS can be downloaded at:
Forum Energy Technologies
Houston, Texas headquartered Forum Energy Technologies Inc.'s stock finished the day 3.62% higher at $18.88. A total volume of 912,108 shares was traded, which was above their three months average volume of 820,090. The Company's shares have gained 9.77% in the last one month, 0.85% over the previous three months, and 51.52% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 12.12% and 31.39%, respectively. Additionally, shares of Forum Energy Technologies, which designs, manufactures, and distributes products to the oil and natural gas industry in the US and internationally, have an RSI of 63.98.
On August 16th, 2016, research firm CapitalOne upgraded the Company's stock rating from 'Equal Weight' to 'Overweight'. Register for free on Stock-Callers.com and get access to the latest PDF format report on FET at:
Shares in Houston, Texas headquartered Flotek Industries Inc. ended yesterday's session 2.60% higher at $16.60. The stock recorded a trading volume of 1.36 million shares, which was above its three months average volume of 877,160 shares. The Company's shares have advanced 7.86% in the last one month, 27.01% in the previous three months, and 45.10% since the start of this year. The stock is trading 15.72% above its 50-day moving average and 56.50% above its 200-day moving average. Moreover, shares of Flotek Industries, which develops and supplies oilfield products, services, and equipment to the oil, gas, and mining industries in the US and internationally, have an RSI of 68.34.
On July 29th, 2016, Flotek Industries announced that it has closed the private placement of shares of common stock for gross proceeds of approximately $30 million. Flotek sold 2,450,339 shares to accredited investors in a private placement priced at $12.52 per share. Flotek will use the proceeds of the private placement to fund the acquisition of International Polymerics, Inc., to repay indebtedness and for general corporate purposes. Download your free research report on FTK at:
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