Scott Gruber

With Weatherford International Plc (NYSE: WFT)'s restructuring expected to stretch out to multiple years, Citigroup handed it a downgrade.  The oil drilling contractor's free cash flow is unlikely to materialize until 2019 or even later, and the valuation is unappealing, said analyst...

Shares of Superior Energy Services, Inc. (NYSE: SPN) tanked more than 8 percent on Tuesday following the lower-than-expected third-quarter results.   Citi Research downgraded the stock from Buy to Neutral and reduced the target price from $22 to $19. The analyst's changes were due to...

Following the recent rally in its share price, National-Oilwell Varco, Inc. (NYSE: NOV) is the third-best performing large cap OFS stock year-to-date. However, Citi’s Scott Gruber expects the share price to fall to $30 before year's end, since expectations are likely to be revised down...

It’s been nearly two years since National-Oilwell Varco, Inc. (NYSE: NOV) has recorded a bullish golden cross technical formation in its chart, but the battered stock’s 50-day simple moving average (SMA) finally crossed above its 200-day SMA a little more than a month ago. It’s...

Most oil stocks have taken a pounding as WTI crude oil prices slipped from above $50/bbl in late June to under $40/bbl this week. However, Citigroup analyst Scott Gruber reiterated the firm’s bullish thesis on large cap oil services stocks. According to Gruber, Citi’s original call...

Citi issued a preview of oil services and equipment companies including Schlumberger Limited. (NYSE: SLB), Baker Hughes Incorporated (NYSE: BHI), Halliburton Company (NYSE: HAL) and Weatherford International Plc (NYSE: WFT). "In the U.S., we believe the bottom is in the rear view mirror...

Citi has upgraded Superior Energy Services, Inc. (NYSE: SPN) to Buy from Neutral as it sees upside to shares on potential accretive acquisition due to the supply of excess frac equipment potentially available at depressed prices. Possible M&A Activity The brokerage said a deal could also...

A Citi analyst said there is more than 50/50 chance of approval of Baker Hughes Incorporated (NYSE: BHI)'s $35 billion merger with Halliburton Company (NYSE: HAL) and Baker would have "plenty of cash to reboot the organization" if the deal is broken. A recent New York Post report...

On Monday, Citi issued a company note on U.S. Silica Holdings Inc (NYSE: SLCA), initiating coverage on the company after analysis showed strong secular growth. Currently, analysts at Citi rate U.S. Silica as a Buy with a $25 price target. Scott Gruber and Michael Sabella, analysts at Citi, wrote...

Citi has upgraded the U.S. oil services sector to Buy. The firm is intentionally getting in early on the trade based on the difficulty in timing inflection points. Citi believes that many stocks are set for huge short covering and sector rotation buying. In a new report, Citi Research...

Citi believes that offshore drillers remain stock pickers’ territory. While it might take years for share prices to recover, the firm sees risk to the upside. Citi suggests pair trades as a way to eliminate much of the downside risk in the space. In a new report, Citi Research analyst Scott...

Citi has further cut its oil services pricing forecasts through 2016. While the firm expects prices to recover in time, they will remain depressed through 2018. Citi recommends investors take advantage of the slump and buy Schlumberger and Halliburton. In a new report, Citi Research...