Preston Caldwell: In the last several months, share prices for oil field service companies have plummeted. Share prices for many breached new decadelong lows, some surpassing even lows set during the great financial crisis. Although there has been some bounce back since the nadir in early January, share prices still remain very depressed.
Our views on the sector have been, for the most part, unchanged despite this drop in sentiment, and so much of our coverage list looks undervalued. In this piece we highlight three of the most deeply discounted yet higher quality names: Schlumberger, Weatherford, and TechnipFMC. They're all trading at least a 25% discount to fair value.
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Preston Caldwell does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.