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CNBC News Associate
Oil services stocks are the place to be for investors to profit from the runup, said Kurt Hallead, oil services analyst at RBC Capital Markets.
“With economic green shoots coming up, that means energy demands are going to start picking up and that’s why oil prices have run,” Hallead told CNBC.
When companies put more oil rigs to work, they will experience pricing power, said Hallead.
“What I’ve seen from the investment community is that we’re starting to anticipate an improvement in the rig count here in the U.S. and that improvement in the rig count is going to lead to some pricing power and earnings momentum,” he said.
He said that as an investor, it is better to be early in the stocks than later.
“That’s where you can generate your excess return,” he said.
Recommendations:
Weatherford [WFT
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Schlumberger [SLB
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Smith International [SII
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Disclosure:
No immediate information was available for Hallead or his firm.
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Compare with Other Oil Service Companies:
Halliburton [HAL
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Baker Hughes [BHI
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Data is a real-time snapshot *Data is delayed at least 15 minutes