iShares U.S. Oil Equipment & Services ETF (ARCA: IEZ)

最新ニュース iShares U.S. Oil Equipment & Services ETF (ARCA:IEZ)

iShares U.S. Oil Equipment & Services ETF

Energy

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The Fund seeks to track the investment results of the Dow Jones U.S. Select Oil Equipment & Services Index; the Underlying Index, which measures the performance of the oil equipment and services sector of the U.S. equity market, as defined by S&P Dow Jones Indices LLC; the Index Provider or SPDJI. The Underlying Index includes companies that are suppliers of equipment or services to oil fields and offshore platforms, such as drilling, exploration, seismic information services and platform construction.

Schlumberger Nv.

Baker Hughes Company Class A

Halliburton Co.

Technipfmc Plc

NOV Inc.

Championx Corp

Weatherford International Plc

Noble Corp Plc

Valaris Ltd.

Tidewater Inc

iShares US Oil Equipment & Services ETF

Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) disclosed several transactions and partnerships at the Baker Hughes <a target="_blank" href="https://www.benzinga.com/quote/BKR" rel="noreferrer noopener">2025 Annual Meeting in Florence</a>.
ExxonMobil Contract: Baker Hughes secured a contract from Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) Guyana to supply specialty chemicals and services for the Uaru and Whiptail offshore <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/g43426683/baker-hughes-secures-major-chemicals-award-from-exxonmobil-guyana-for-fpsos" rel="noreferrer noopener">developments in the Stabroek Block</a>.
Uaru and Whiptail are ExxonMobil Guyana&#8217;s fifth and sixth projects, featuring up to 20 drill centers and 92 wells.
Each FPSO will have a capacity of 250,000 barrels per day, raising the country's total production capacity to 1.3 million barrels per day.
The multi-year contract covers topsides, subsea, water injection, and utility chemicals for the Errea Wittu and Jaguar FPSOs, set to begin production in 2026 and 2027, respectively.
Hanwha Partnership: Baker Hughes inked a joint Development and Collaboration Agreement (JDCA) with Hanwha Power Systems and Hanwha Ocean to develop a small-size <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/g43426721/baker-hughes-and-hanwha-announce-partnership-to-develop-small-size-ammonia-turbines" rel="noreferrer noopener">turbine for ammonia applications</a>.
The turbine will combine Baker Hughes&#8217; gas turbine technology with Hanwha&#8217;s ammonia combustion system.
Baker and Hanwha plan to complete full engine testing with ammonia by the end of 2027, after which the ~16MW turbine will be available for commercial orders.
Argent LNG Contract: The company has been chosen by Argent LNG as the liquefaction solution and services provider for its proposed LNG <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/g43427007/argent-lng-selects-baker-hughes-as-technology-provider-strengthening-project" rel="noreferrer noopener">export facility in Port Fourchon, Louisiana</a>.
Baker Hughes will supply liquefaction technology, power generation equipment, and gas compression systems for the facility, which aims to produce approximately 24 MTPA of LNG.
Last month, Baker Hughes reported fourth-quarter adjusted EPS&nbsp;of $0.70, beating the consensus of $0.63 and sales&nbsp;of $7.36 billion, exceeding <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g43356061/baker-hughes-announces-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener">the street view of&nbsp;$7.08 billion</a>.
Investors can gain exposure to the stock via iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>) and&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>).
Price Action: BKR shares are up 0.39% at $46.36 premarket at the last check Monday.
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Equities

Large Cap

News

Contracts

Baker Hughes Lands ExxonMobil Guyana Deal, Partners With Hanwha On Ammonia Turbines

SLB Capturi, a joint venture&nbsp;between Schlumberger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) and Aker Solutions, secured an engineering, procurement, construction, installation, and commissioning <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b43220800/slb-capturi-and-aker-solutions-win-contract-to-deliver-carbon-capture-solution-for-hafslund-celsio" rel="noreferrer noopener">(EPCIC) contract from Hafslund Celsio</a>.
The company plans to deliver a carbon capture solution at its Klemetsrud waste-to-energy facility in Oslo.
The contract includes a carbon capture plant, liquefaction system, temporary storage, and a loading facility at the waste incineration site, along with an intermediate CO2 storage and ship loading system at Oslo harbor.
The project will use SLB Capturi&#8217;s modularized Just Catch 400 unit, which enables a cost-effective solution by minimizing onsite footprint, installation, and outfitting work.
The plant is expected to capture 350,000 metric tons of CO2 annually, upon operational, which will be transported to the Northern Lights storage facility.
The EPCIC award follows a cost-reduction phase that identified efficiencies, including layout optimization.
The project is part of Longship, Norway&#8217;s full value-chain CCS initiative. Hafslund Celsio&#8217;s project is the second carbon capture plant in Longship, with SLB Capturi also delivering the carbon capture plant at Heidelberg Materials&#8217; Brevik cement facility in collaboration with Aker Solutions.
Martin S. Lundby, chief executive officer at Hafslund Celsio, stated, &#8220;Our partners bring valuable expertise from large industrial developments both in Norway and internationally. Together, we will construct a carbon capture solution that is expected to be operational by third quarter 2029.&#8221;
&#8220;This project is a testament to important public and private collaboration to build an industrial value chain for carbon capture and storage. The project will also significantly contribute to reducing emissions and will create value for both industry and society,&#8221; added Kjetel Digre, CEO of Aker Solutions.
Last week, SLB, along with Star Energy Geothermal, a subsidiary of Indonesian renewable energy company&nbsp;Barito Renewables, entered into a partnership to<a target="_blank" href="https://www.benzinga.com/25/01/43135328/slb-teams-up-with-star-energy-geothermal-to-advance-geothermal-tech" rel="noreferrer noopener"> boost geothermal technology</a>.
Recently, the company reported&nbsp;better-than-expected fourth-quarter 2024 results, with revenue of $9.28 billion, beating the consensus of $9.18 billion. Adjusted EPS increased 7% to 92 cents,&nbsp;above <a target="_blank" href="https://www.benzinga.com/25/01/43055401/schlumberger-posts-strong-q4-results-raises-dividend-and-buybacks-championx-deal-to-strengthen-future-growth" rel="noreferrer noopener">the consensus of 90 cents</a>.
SLB raised its dividend by 3.6% and initiated $2.3 billion in accelerated share repurchase, boosting shareholder returns.
Investors can gain exposure to the stock via iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>) and&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>).
Price Action: SLB shares are down 0.40% at $42.08 premarket at the last check Monday.
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Schlumberger JV Lands Carbon Capture Deal In Oslo, Norway: Details

Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) shares are trading lower on Wednesday. The company secured several major drilling contracts from Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>).
These contracts will support capital-efficient energy development across deep- and ultra-deepwater assets in the UK North Sea, Trinidad and Tobago, the <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b42872559/slb-awarded-multi-region-deepwater-contracts-by-shell-to-support-capital-efficient-energy-developm" rel="noreferrer noopener">Gulf of Mexico, and other locations.</a>
The projects, set to be delivered over three years, will leverage SLB&#8217;s AI-enabled digital drilling capabilities alongside its expertise in ultra-deepwater environments.
This combination aims to consistently deliver more efficient wells, enhancing cost-effectiveness.
The contracts will cover digital directional drilling services, hardware, logging while drilling, surface logging, cementing, drilling and completions fluids, completions, and wireline services.
Last month, SLB disclosed that its OneSubsea joint venture won a contract from Petrobras, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/b42459584/slb-onesubsea-awarded-subsea-boosting-contract-by-petrobras-for-the-b-zios-field-offshore-brazil" rel="noreferrer noopener">following a competitive tender</a>.
The contract involves the provision of two subsea raw seawater injection systems to enhance recovery from the Búzios field.
Investors can gain exposure to the stock via iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>) and VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>).
Price Action: SLB shares are down 1.69% at $38.71 at the last check Wednesday.
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SHEL

Shell Awards Schlumberger Three-Year, Multi-Region Deepwater Contracts: Details

Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading higher on Wednesday</a>.
Today, the company announced a significant new contract with Petrobras (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>).
The $800 million deal will see Schlumberger provide integrated services across all offshore fields operated by the Brazilian oil giant, marking a significant expansion in their long-standing partnership.
The contract, awarded after a competitive tender, will see Schlumberger oversee the construction of over 100 deepwater wells, utilizing cutting-edge technologies in drilling, cementing, and drilling fluids.
These services will be provided across the Campos, Santos, and Espírito Santo Basins, along with other Petrobras-operated fields.
The contract also includes operations in the Equatorial Margin, contingent upon the approval of exploration licenses, with the three-year contract set to begin in April 2025.
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Schlumberger&#8217;s commitment to local content is evident, with much of the technology and equipment to be deployed sourced from within Brazil.
The company has maintained a strong relationship with Petrobras for decades, and this contract further strengthens that partnership while introducing new technologies aimed at improving operational efficiency and environmental sustainability.
Technologies to be used under the contract include Schlumberger&#8217;s Ora intelligent wireline formation testing platform and SpectraSphere fluid mapping-while-drilling service.
These innovations are designed to optimize productivity, minimize risks, and reduce emissions, making Petrobras&#8217; offshore operations safer and more efficient.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, SLB stock has lost over 16% in the past year. Investors can gain exposure to the stock via iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: SLB shares are trading higher by 0.49% to $41.07 at last check Wednesday.
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Markets

Movers

General

Schlumberger Lands Petrobras Contract To Build 100+ Wells: Details

Analysts cut the price target on BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) following the company&#8217;s third quarter results reported on Tuesday.
BP&#8217;s revenue fell short at $47.25 billion, below the $52.56 billion consensus, with oil production down <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41598840/bp-stock-drops-as-q3-revenue-misses-mark-production-declines-debt-rises" rel="noreferrer noopener">6% year over year</a>.
For FY24, BP&nbsp;continues to expect&nbsp;both reported and underlying upstream production to be&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">slightly higher than the prior year</a>.&nbsp;
Meanwhile, the company continues to expect $25 billion&nbsp;of divestments and other proceeds from the second half of 2020 through 2025.
RBC Capital Markets analyst Biraj Borkhataria lowered the price target to 480p (from 525p) while reiterating the Sector Perform rating.
The analyst writes that BP faced significant challenges lately, and without an improving macroeconomic environment, they believe the investment case remains weak.
The company appears to have missed an opportunity in 2022-23, a peak period in the cycle, to significantly reduce its leverage, adds the analyst.
Borkhataria says that this oversight has left its distribution program less resilient compared to its peers.
The analyst observed a stronger focus on the balance sheet this quarter compared to previous periods, with net debt increasing from $33.3 billion to $35.3 billion (including leases).
Borkhataria expects this figure to rise to approximately $40 billion by the end of the year.
The analyst says that BP requires a reset of expectations ahead of its February 2025 Capital Markets Day (CMD).
Adjusting the &#8216;surplus&#8217; payout ratio seems prudent, and the analyst believes it would be wise to allocate more cash towards strengthening the balance sheet.
Given the lackluster returns in recent years, Borkhataria thinks that prioritizing de-leveraging over growth capital expenditures in the transition engines should be the focus.
The analyst&#8217;s revised EPS estimates reflect a decrease of 6% for 2024 and 10% for 2025, primarily due to lower refining earnings, partially balanced by increased contributions from gas and low-carbon initiatives.
Goldman Sachs analyst Michele Della Vigna reduced the price target to 560p from 580p while reaffirming the Buy rating. Also, the analyst reduced the <a href="https://www.benzinga.com/quote/BP/analyst-ratings">ADR price target to $44.0 from $46.0.</a>
The analyst anticipates lower oil and gas price realizations than expected, particularly for European gas, which may result in diminished earnings and cash flow generation.
Additionally, lower-than-expected recovery rates in mature offshore oil and gas fields could lead to higher decline rates than currently projected, ultimately resulting in lower production growth and cash flow than their current estimates, adds the analyst.
Vigna adjusted the estimates, resulting in EPS changes of approximately -2%, -7%, and -5% for 2024, 2025, and 2026, respectively, primarily due to lower refining margins and reduced oil trading profits.
Price Action: BP shares are down 0.66% at $29.17 at the last check Wednesday.
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</ul>

Price Target

Trading Ideas

BP Faces Price Forecast Cuts As Analysts Flag Weak Earnings And Rising Debt Challenges

Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) shares are trading lower on Tuesday. The company disclosed that its OneSubsea joint venture won a contract from BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) for a subsea boosting system as part of the greenfield development of the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41598382/slb-onesubsea-awarded-subsea-boosting-contract-for-bps-kaskida-project-in-gulf-of-mexico" rel="noreferrer noopener">Kaskida project in the deepwater U.S</a>.
This contract signifies an important achievement in the enduring collaboration between SLB OneSubsea and BP, as it is their inaugural engineering, procurement, and construction (EPC) agreement for a subsea boosting system.
The project involves a supplier-led high-pressure subsea pump solution, featuring an integrated power and controls umbilical, as well as the requisite topside equipment.
The OneSubsea subsea boosting system is a crucial technology for bp&#8217;s inaugural Paleogene field development.
It will provide the necessary artificial lift to optimize production by enhancing reserve recovery while minimizing energy consumption.
This month, SLB reported revenue growth of 10.2% year over year to $9.159 billion, missing the consensus of $9.25 billion. Adjusted EPS increased 14% to 89 cents,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41401700/schlumberger-q3-earnings-mixed-results-as-middle-east-shines-and-latin-america-falters" rel="noreferrer noopener">above the consensus of 88 cents</a>.
Investors can gain exposure to SLB via&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) and&nbsp;IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: SLB shares are down 2.38% at $40.41 at the last check Tuesday.
Photo via Shutterstock
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</ul>

Schlumberger's OneSubsea Lands Key Contract With BP To Power Deepwater Kaskida Project: Details

On Monday, Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) disclosed the formation of a joint venture (JV) with ADNOC Drilling Company and Patterson-UTI Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTEN#NASDAQ">PTEN</a>) called <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41093343/slb-and-adnoc-drilling-partner-for-unconventional-oil-and-gas-development" rel="noreferrer noopener">Turnwell Industries LLC OPC</a>.
The JV aims to accelerate the UAE&#8217;s unconventional oil and gas program. It targets the completion of 144 wells by 2025, with the potential for additional wells in a second phase.
ADNOC Drilling will hold a 55% stake, with SLB and Patterson-UTI holding 30% and 15% stakes in the JV. SLB will provide drilling, completion services, project management, and digital solutions.
This deal is expected to enable the companies to leverage cutting-edge innovations in AI, smart drilling design, completions engineering, and production solutions.
Tarek Rizk, SLB&#8217;s president for the Middle East and North Africa region, said, &#8220;We are proud to join forces with ADNOC Drilling in this strategic partnership that demonstrates SLB&#8217;s leading position in the region deploying innovative digital, drilling and completion technologies in developing unconventional energy resources.&#8221;&nbsp;
&#8220;UAE&#8217;s unconventional energy assets hold a promising future, and we are very much looking forward to elevating their performance in a safe and sustainable way.&#8221;
Abdulrahman Abdulla Al Seiari, chief executive officer, ADNOC Drilling stated, &#8220;Turnwell will not only unlock the immense potential of the UAE&#8217;s world-class unconventional energy resources but will also set new benchmarks for the global energy industry. We are proud to lead the way in responsibly shaping the future of energy, both in the UAE and beyond.&#8221;
Last month, Schlumberger partnered with NVIDIA to create generative AI solutions focusing on subsurface exploration and <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40939729/energy-meets-ai-schlumberger-teams-up-with-nvidia-to-supercharge-industry-efficiency" rel="noreferrer noopener">data management in energy</a>.
Investors can gain exposure to SLB via&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) and&nbsp;IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: SLB shares are down 0.74% at $41.64 premarket at the last check Tuesday.
Image via Shutterstock
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PTEN

SLB, ADNOC Drilling, Patterson-UTI Join Forces To Accelerate UAE's Unconventional Oil Program

Schlumberger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) shares are trading higher on Tuesday. The company launched the Lumi data and AI platform, integrating advanced AI into workflows<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40894766/slb-launches-ai-powered-lumi-platform" rel="noreferrer noopener"> across the energy value chain</a>.
The Lumi platform offers open, secure access to high-quality data across all energy domains, boosting collaboration and decision-making. It integrates the latest large language models&nbsp;(LLMs) and SLB&#8217;s domain-specific models, facilitating scalable AI adoption.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40810215/schlumbergers-breakthrough-in-lithium-production-details" rel="noreferrer noopener">Schlumberger&#8217;s Breakthrough In Lithium Production: Details</a>
The Lumi platform will be available on major cloud providers and on-premises, offering global access.
SLB&#8217;s Delfi platform will leverage Lumi&#8217;s capabilities for improved reservoir modeling, seismic interpretation, and drilling workflows, while boosting automation and efficiency for low-carbon energy operations.
The Lumi platform combines technologies from top partners with SLB&#8217;s expertise to enhance data and AI access across the energy production cycle.
Rakesh Jaggi, president, Digital and Integration, SLB, said, &#8220;Through the Lumi data and AI platform, we will liberate and contextualize data for our global customers across domains – enabling them to scale advanced AI workflows and accelerate their ongoing digital transformation.&#8221;
Investors can gain exposure to SLB via&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) and&nbsp;IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: SLB shares are up 0.42% at $40.57 premarket at the last check Tuesday.
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Energy Gets AI Boost: Schlumberger's Lumi Platform To Power Next-Gen Digital Transformation

Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) disclosed that it has successfully demonstrated sustainable lithium production <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40789109/slb-achieves-breakthrough-results-in-sustainable-lithium-production" rel="noreferrer noopener">at scale at its Clayton Valley, Nevada, plant</a>.
SLB&#8217;s integrated solution offers a complete, end-to-end process that includes advanced impurity treatment and concentration technologies to produce high-purity lithium carbonate or hydroxide.
The company aims to accelerate the market availability of responsibly sourced lithium products. The solution extracts lithium from brine 500 times faster than traditional methods, using only 10% of the land.
The company stated that the plant achieved a verified lithium recovery rate of 96% from brine when operating at about one-tenth the size of a commercial facility.
The traditional lithium extraction process requires vast land and depletes water, leaving harmful residues. SLB&#8217;s solution minimizes water use and returns processed brine to its source, reducing environmental impact.
Gavin Rennick, president of SLB&#8217;s New Energy business said, &#8220;SLB&#8217;s demonstration plant in Clayton Valley proves our unique integrated approach to produce scalable quantities of lithium in the fastest, most economical and sustainable way for today&#8217;s market. This accelerates deployment of viable commercial-scale facilities for high-quality lithium products that are the backbone of our electrification economy.&#8221;
In July, Schlumberger reported a second-quarter 2024 revenue increase of 13% year-over-year to $9.139 billion,&nbsp;beating the consensus of $9.076 billion. Adjusted EPS increased 18% Y/Y to $0.85,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39859998/schlumberger-outshines-expectations-solid-international-growth-fuels-q2-success" rel="noreferrer noopener">above the consensus of $0.83</a>.
Investors can gain exposure to SLB via&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) and&nbsp;IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: SLB shares are up 0.25% at $39.69 premarket on the last check Wednesday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Schlumberger's Breakthrough In Lithium Production: Details

Halliburton Company&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) stock is trading lower on Tuesday<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener"> in the premarket session.</a>
Earlier, in an exchange filing dated August 21, the company said that it became aware that an unauthorized<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40511054/halliburtons-north-houston-campus-affected-by-cyberattack-report" rel="noreferrer noopener"> third party gained access to certain of its systems.</a>
Halliburton <a target="_blank" href="https://ir.halliburton.com/static-files/ab23c34e-0577-4843-8da1-43fee4f4de2e" rel="noreferrer noopener">reported</a> today in a filing that the cyber attack has disrupted and restricted access to critical business applications, impacting various operations and corporate functions. The company insists that the incident hasn&#8217;t and isn&#8217;t expected to significantly impact its financial health or operations.
The company suspects that an unauthorized third party gained access to and extracted sensitive information from its systems. Halliburton is currently assessing the extent of the breach and determining the necessary notifications.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40682836/wall-street-poised-for-sharply-lower-start-in-new-week-as-risk-off-sentiment-dominates-vix-spikes-a" rel="noreferrer noopener">Wall Street Poised For Sharply Lower Start As Risk-Off Sentiment Dominates, VIX Spikes: Analysts Fret Over Sluggish September Seasonality</a>
However, it still faces a slew of risks: management distractions, possible lawsuits, shifts in customer behavior, and a likely increase in regulatory scrutiny.
Halliburton said it is actively updating its customers and stakeholders about the incident.
Adhering to its rigorous safety protocols under the Halliburton Management System, it also assesses the impact of the breach on its ongoing operations. the filing added.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, HAL stock has lost over 23% in the past year. Investors can gain exposure to the stock via iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>) and Invesco Oil &amp; Gas Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXJ#NYSE">PXJ</a>).
Price Action: HAL shares are trading lower by 1.74% to $30.55 premarket at last check Tuesday.
Image via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

PowerShares Exchange-Traded Fund Trust Dynamic Oil Services Portfolio

Why Is Halliburton Stock Falling Today?

On Friday, Baker Hughes Company&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) reportedly stated that U.S. energy firms reduced the number of oil and natural gas rigs for the second consecutive week, marking the first such decline since late June.
The oil and gas rig count decreased by one to 585 for the week ending August 23, bringing the total count down 47 rigs, or 7%, below the same period last year, reported Reuters.
The oil rigs remained steady at 483, while gas rigs fell by one to 97 this week. The rig count dropped about 20% in 2023 following significant increases in 2021 and 2022, due to lower oil and gas prices, rising costs, and a focus on debt reduction and shareholder returns.
As per the report, U.S. oil futures have risen about 5% in 2024 after a drop of 11% in 2023, whereas U.S. gas futures are down about 19% in 2024 following a 44% plunge in 2023.
Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/08/40313301/oil-prices-eye-fourth-straight-day-of-gains-as-geopolitical-risks-overshadow-opecs-cooler-demand-f" rel="noreferrer noopener">Oil Prices Eye Fourth Straight Day Of Gains As Geopolitical Risks Overshadow OPEC&#8217;s Cooler Demand Forecast</a>
The rise in oil prices is expected to drive U.S. crude output up from a record 12.9 million barrels per day (bpd) in 2023 to 13.2 million bpd in 2024 and 13.7 million bpd in 2025, per the latest EIA outlook.
Conversely, gas producers cut back on drilling earlier this year after prices fell to 3½-year lows in February and March.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/40010863/these-analysts-boost-their-forecasts-on-baker-hughes-after-strong-q2-results" rel="noreferrer noopener">These Analysts Boost Their Forecasts On Baker Hughes After Strong Q2 Results</a>
Investors can gain exposure to BKR via&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) and&nbsp;IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: BKR shares are up 1.33% at $35.69 at the last check Monday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com//node/40548944" target="_blank" rel="noreferrer noopener">Morgan Stanley Slashes Global Oil Demand Growth Forecast For 2024: Report</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

Baker Hughes Says US Oil And Gas Rig Count Declines For Second Week: Report

Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) shares are trading nearly flat today. On Wednesday, the company was reportedly hit by a cyberattack.
The attack affected operations at Halliburton&#8217;s north Houston campus, and some global connectivity networks, reported Reuters.
Halliburton acknowledged a system issue and said it is working with &#8220;leading external experts&#8221; to resolve the problem, per the report, which cited a spokesperson&#8217;s emailed statement. Halliburton has instructed some staff not to connect to internal networks.
Last month, Halliburton reported second-quarter revenue of $5.833 billion, which missed the $5.949 billion consensus, and EPS of $0.80, <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39885917/halliburton-lowers-2024-outlook-analysts-forecast-more-muted-2025" rel="noreferrer noopener">which was&nbsp;in line with the consensus.</a>
There have been some cyberattack incidents in recent times. This month, Google confirmed that a group linked to Iran&#8217;s Revolutionary GuarIran&#8217;sbeen attempting to breach the personal email accounts of individuals associated with the US presidential campaigns of President Joe Biden and <a target="_blank" href="https://www.benzinga.com/news/24/08/40387430/google-confirms-iranian-hackers-linked-to-revolutionary-guard-targeted-trump-biden-and-harris-campai" rel="noreferrer noopener">former President&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/08/40387430/google-confirms-iranian-hackers-linked-to-revolutionary-guard-targeted-trump-biden-and-harris-campai" rel="noreferrer noopener">Donald Trump</a>.
Investors can gain exposure to HAL via&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) and&nbsp;IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: HAL shares are trading flat at at $31.21 at the last check Thursday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Halliburton's North Houston Campus Affected by Cyberattack: Report

Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) shares are trading lower after the company reported second-quarter&nbsp;2024 revenue of&nbsp;$5.833 billion,&nbsp;missing the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39856421/halliburton-announces-second-quarter-2024-results" rel="noreferrer noopener">consensus of&nbsp;$5.949 billion</a>.
Completion and Production revenue was&nbsp;$3.4 billion, flat Q/Q. Revenue growth from increased completion tool sales and stimulation activity abroad, as well as improved well-intervention services, was offset by lower stimulation and completion tool sales in the U.S. and decreased artificial lift services in North America.
Drilling and Evaluation revenue came in at $2.4 billion, flat Q/Q. Results benefitted from increased drilling services in Europe, North America, and Asia, higher wireline activity in the Western Hemisphere and Europe, and a rise in international testing services.
HAL&#8217;s North&nbsp;America&nbsp;revenue fell&nbsp;3%&nbsp;Q/Q to&nbsp;$2.5 billion&nbsp;due reduced pressure pumping services in U.S. land and lower activity in the Gulf of Mexico.
International revenue was&nbsp;$3.4 billion, an increase of&nbsp;3%&nbsp;Q/Q, with revenue from Latin America&nbsp;flat Q/Q, Europe/Africa&nbsp;+4% Q/Q,&nbsp;and Middle East/Asia&nbsp;+5% Q/Q.
Operating income stood at $1.032 billion (+5% Q/Q), with an operating margin of about 18% in the quarter.
EPS of $0.80 was <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">in line with the consensus.</a>
The company repurchased ~$250 million of its common stock during the quarter.
Operating cash flow stood at&nbsp;$1.1 billion&nbsp;for the quarter, and free cash flow was&nbsp;$800 million.
Jeff Miller, Chairman, President, and CEO, said, &#8220;In our international markets we see strong demand for Halliburton&#8217;s services, high activity levels, and equipment tightness across all major basins.&#8221;
Investors can gain exposure to the stock via VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) and IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: HAL shares are down&nbsp;4.53%&nbsp;at&nbsp;$34.80 premarket&nbsp;at&nbsp;the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Earnings

Buybacks

Halliburton's Q2 Revenue Miss Highlights Challenges In US Market, Despite International Gains

Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) and ChampionX Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHX#NASDAQ">CHX</a>) received a second request from the United States Department of Justice regarding Schlumberger&#8217;s planned <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39608177/slb-provides-update-on-planned-acquisition-of-championx" rel="noreferrer noopener">acquisition of ChampionX</a>.
SLB currently anticipates the transaction to conclude in late 2024 or early 2025, subject to regulatory approvals and customary closing conditions.
The acquisition was approved by ChampionX stockholders at a special meeting on June 18, 2024.
In April, Schlumberger announced that it would acquire ChampionX. In exchange for each ChampionX share, the shareholders will <a target="_blank" href="https://www.benzinga.com//node/38054329" rel="noreferrer noopener">receive 0.735 shares of Schlumberger.&nbsp;</a>
Post closure, Schlumberger expects to realize annual pretax synergies of around $400 million within the first three years <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">through revenue growth and cost savings</a>.&nbsp;
Also, this week, Schlumberger and TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) entered into a 10-year partnership to co-create scalable digital solutions to improve access to energy resources while <a href="https://www.benzinga.com/pressreleases/24/07/b39593270/slb-and-totalenergies-announce-10-year-partnership-to-collaborate-on-next-generation-digital-solut" target="_blank" rel="noreferrer noopener">enhancing performance and efficiency</a>.
Stock Prediction 2024
Schlumberger&#8217;s revenue growth in FY23 was 17.96%, reflecting the influence of various factors including the macroeconomic environment, demand for its products and services, and its position relative to competitors. This growth is a critical indicator for investors assessing the company&#8217;s future prospects.
Some macro factors that could impact the company's performance in the next year include higher interest rates, progress on reeling in inflation and labor market strength. The Fed's benchmark rate is currently at 5.33%, while PPI recently came in at -0.2%, growing 2.2% from last year. The unemployment rate was most recently reported as 4.0%.
An investor should pay attention to economic conditions to decide whether they think the macro environment is positive or negative for Schlumberger stock. For real time economic data and breaking market updates, <a href="https://pro.benzinga.com/">check out Benzinga Pro. Try it for free.</a>
How does this stack up against Schlumberger's peers?
Investors may also want to analyze a stock in comparison to companies with similar products or in similar industries. Schlumberger operates in the Energy sector. The stock has experienced average annual growth of 14.42% compared to the 18.29% average of its peer companies. This is below the broader sector movement of Schlumberger.
Investors can gain exposure to Schlumberger via&nbsp;VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) and&nbsp;IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: SLB shares are down 0.13% at $46.63 premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Government

Regulations

DOJ Asks More Questions About Schlumberger-ChampionX Merger: Details

Schlumberger Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) and Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) shares are trading higher today after Schlumberger won a contract from Equinor for the Subsea Production Systems (SPS) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/b39524155/slb-onesubsea-awarded-contract-by-equinor-for-groundbreaking-all-electric-subsea-project" rel="noreferrer noopener">project in offshore Norway</a>.
The contract is for the front-end engineering design (FEED) of a 12-well, all-electric SPS project in the Fram Sør field.
Under the agreement, SLB OneSubsea will be directly awarded future engineering, procurement, and construction contracts conditional upon a final investment decision.
The Fram Sør project will employ SLB OneSubsea&#8217;s standard subsea tree design, enhanced with a fully electrified power, control, and actuation system.
This project aims to accelerate the global adoption of electric subsea technology, establishing new benchmarks for enhanced operator control, operational efficiency, and reduced offshore emissions.
Mads Hjelmeland, chief executive officer of SLB OneSubsea stated, &#8220;This technology has effectively created the IoT for subsea trees, providing operators with improved control through live performance and condition monitoring. We are grateful for the collaboration with Equinor and the other joint-industry-partners over the past six years that has made this milestone possible.&#8221;
Investors can gain exposure to SLB via IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>) and VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) as well as to EQNR via Amplify ETF Trust Amplify Natural Resources Dividend Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NDIV#NYSE">NDIV</a>) and SGI Enhanced Global Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GINX#NASDAQ">GINX</a>).
Price Action: EQNR shares are up 1.51% at $28.17 and SLB by 1.32% at $46.84 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

EQNR

GINX

NDIV

Schlumberger Lands Electric Subsea Project With Equinor In Norway: Details

As April comes to a close, it&#8217;s time to compile the rankings for the top-performing sector and industry exchange-traded <a href="https://www.benzinga.com/etfs">funds of the month.</a>
Taking a broader look at the stock market, the S&amp;P 500 Index, represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), finished April on a downturn, declining by approximately 3%. This marks the end of a five-month streak of gains.
Similarly, the tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), experienced a 3.5% decline.
Among large-cap indices, blue-chip stocks showed slight underperformance, with the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) slipping by 4.5%.
Small-cap stocks, represented by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), plummeted by over 6%, marking their worst performance since October 2023.
Overall, it has been a challenging month for the stock market, primarily due to inflation surprises surpassing expectations. This has led to a recalibration of market expectations regarding potential Federal Reserve rate cuts.
Additionally, complex global geopolitical tensions have emerged, notably between Israel and Iran, alongside the ongoing issue in the Gaza Strip.
May is anticipated to start with a crucial event as investors await the Federal Reserve Open Market Committee <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">(FOMC) meeting on Wednesday. </a>
While no interest rate changes are expected, all eyes will be on Fed Chair Jerome Powell&#8216;s remarks to assess the Fed&#8217;s stance in response to recent inflation surprises.
Read also: <a href="https://www.benzinga.com/general/macro-notification/24/04/38491988/federal-reserve-meeting-preview-high-interest-rates-need-more-time-to-work-bank-of-ame">Federal Reserve Meeting Preview: High Interest Rates &#8216;Need More Time To Work,&#8217; Bank of America Says</a>
<h2 class="wp-block-heading">Performance Of Sector ETFs In April 2024</h2>
At the sector level, only the utilities sector managed to avoid losses for the month, rising by 2.1%.
The largest stock contributors to the utilities&#8217; performance in April are NextEra Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), The Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) and NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) which showed monthly gains between 4% and 8%. 
Energy stocks remained broadly stable, while the other nine S&amp;P 500&#8217;s sectors showcased losses.
Real estate experienced the worst performance, down by over 7%, dragged down by its high sensitivity to interest rates, as Treasury yields increase across the board during the month. 
Following real estate, the technology and healthcare sectors also showed poor performance in April.
<h4 class="wp-block-heading">April&#8217;s Best And Worst Sector ETFs: Utilities Lead, Real Estate Lags</h4>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>April 2024 performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>2.06%</td>
</tr>
<tr>
<td>Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>0.01%</td>
</tr>
<tr>
<td>Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>-1.11%</td>
</tr>
<tr>
<td>Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>-3.23%</td>
</tr>
<tr>
<td>Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>-3.68%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>-3.85%</td>
</tr>
<tr>
<td>Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>-4.13%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>-4.24%</td>
</tr>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>-4.78%</td>
</tr>
<tr>
<td>Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>-7.83%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 30, 2024 2:50 p.m. EDT</figcaption></figure>
<h2 class="wp-block-heading">Performance Of Industry ETFs In April 2024</h2>
Based on the industry ETF list provided by BlackRock Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) iShares, only five out of the 25 industries managed to report gains in April. Among them, miners did well across the board, with silver, copper, and gold mining stocks reporting robust gains. 
Standout contributors to the mining industry&#8217;s outperformance in April were Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>), up over 20%, Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), up 14%, Anglo American plc (OTCPK: AAUKF), up over 40%
Energy producers also managed to end the month in the green.
On the bottom side of the industry rankings, homebuilders, transportation, biotech stocks, digital infrastructure and real estate all report losses between 7% and 9.6% in April.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>ETF Name</th>
<th>Performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>iShares MSCI Global Silver and Metals Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLVP#NYSE">SLVP</a>)</td>
<td>12.11%</td>
</tr>
<tr>
<td>iShares Copper and Metals Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>)</td>
<td>9.50%</td>
</tr>
<tr>
<td>iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>)</td>
<td>5.93%</td>
</tr>
<tr>
<td>iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>)</td>
<td>2.81%</td>
</tr>
<tr>
<td>iShares MSCI Global Energy Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FILL#NYSE">FILL</a>)</td>
<td>2.46%</td>
</tr>
<tr>
<td>iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>)</td>
<td>-1.16%</td>
</tr>
<tr>
<td>iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEO#NYSE">IEO</a>)</td>
<td>-1.37%</td>
</tr>
<tr>
<td>iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>)</td>
<td>-1.66%</td>
</tr>
<tr>
<td>iShares Lithium Miners and Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ILIT#NYSE">ILIT</a>)</td>
<td>-3.30%</td>
</tr>
<tr>
<td>iShares U.S. Broker-Dealers &amp; Securities Exchange ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>)</td>
<td>-3.74%</td>
</tr>
<tr>
<td>iShares U.S. Financial Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>)</td>
<td>-3.88%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>-4.37%</td>
</tr>
<tr>
<td>iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>)</td>
<td>-4.40%</td>
</tr>
<tr>
<td>iShares U.S. Healthcare Providers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHF#NYSE">IHF</a>)</td>
<td>-4.79%</td>
</tr>
<tr>
<td>iShares U.S. Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAK#NYSE">IAK</a>)</td>
<td>-4.85%</td>
</tr>
<tr>
<td>iShares U.S. Regional Banks ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>)</td>
<td>-5.11%</td>
</tr>
<tr>
<td>iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td>
<td>-5.38%</td>
</tr>
<tr>
<td>iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>)</td>
<td>-5.45%</td>
</tr>
<tr>
<td>iShares Mortgage Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REM#NYSE">REM</a>)</td>
<td>-5.57%</td>
</tr>
<tr>
<td>iShares U.S. Medical Devices ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHI#NYSE">IHI</a>)</td>
<td>-5.75%</td>
</tr>
<tr>
<td>iShares Global Timber &amp; Forestry ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOOD#NYSE">WOOD</a>)</td>
<td>-6.20%</td>
</tr>
<tr>
<td>iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>)</td>
<td>-6.76%</td>
</tr>
<tr>
<td>iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>)</td>
<td>-7.12%</td>
</tr>
<tr>
<td>iShares Biotechnology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBB#NYSE">IBB</a>)</td>
<td>-7.23%</td>
</tr>
<tr>
<td>iShares U.S. Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYT#NYSE">IYT</a>)</td>
<td>-8.34%</td>
</tr>
<tr>
<td>iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>)</td>
<td>-9.60%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of Apr. 30, 2024 3:15 p.m. EDT</figcaption></figure>
Now read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38497224/ai-data-centers-drive-electricity-demand-goldman-sachs-picks-16-stocks-to-play-the-">AI Data Centers Drive Electricity Demand: Goldman Sachs Picks 16 Stocks To Play The Trend</a>
Image generated using artificial intelligence via Midjourney.

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Health Care

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Federal Reserve

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AAUKF

COPX

SPDR Dow Jones Industrial Average ETF Trust

FILL

iShares Dow Jones US Broker Dealers Index Fund

iShares Dow Jones US Insurance Index Fund

iShares Dow Jones US Regional Banks Index Fund

iShares U.S. Digital Infrastructure and Real Estate ETF

IDGT

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

iShares Dow Jones US Pharmaceuticals Index Fund

iShares Dow Jones US Health Care Provides Index Fund

iShares Dow Jones US Medical Devices Index Fund

ILIT

iShares Dow Jones US Aerospace & Defense Index Fund

iShares Dow Jones US Homenstruction Index Fund

iShares Trust Dow Jones US Financial Services Index Fund

iShares Dow Jones Transportation Average Index Fund

PAAS

PICK

iShares FTSE NAREIT Mortgage PLUS Capped Index Fund

iShares FTSE NAREIT Residential PLUS Capped Index Fund

RING

SLVP

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

iShares S&P Global Timber & Forestry Index Fund

WOOD

XLRE

Select Sector SPDR-Consumer Discretionary

April Showers On Wall Street:  Miners, Utilities Emerge As Bright Spots In Gloomy Market

ChampionX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHX#NASDAQ">CHX</a>) shares are trading higher, while Schlumberger Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) shares are down after the Texas-based companies announced <a href="https://www.benzinga.com/pressreleases/24/04/g38042380/slb-announces-agreement-to-acquire-championx-in-an-all-stock-transaction" target="_blank" rel="noreferrer noopener">an all-stock deal</a>.
What Happened: Schlumberger will acquire ChampionX, and the shareholders will receive 0.735 shares of Schlumberger in exchange for each ChampionX share. 
ChampionX shareholders will own approximately 9% of Schlumberger&#8217;s common shares once the deal closes.
Post closure, Schlumberger expects to realize annual pretax synergies of around $400 million within the first three years through revenue growth and cost savings. 
The transaction is projected to close before 2024, subject to shareholder and regulatory approval. 
Shareholder Return: The company disclosed that it will return $7 billion to shareholders&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">over the next two years</a>.&nbsp;
Schlumberger will increase its shareholder returns for 2024 to a target of $3 billion and project returns of $4 billion for 2025.&nbsp;
Olivier Le Peuch, SLB&#8217;s chief executive officer, said, &#8220;Our core strategy remains centered on meeting growing energy demand while accelerating decarbonization and emissions reduction through innovation, scale and digitalization in our core oil and gas business. This acquisition will expand SLB&#8217;s presence in the less cyclical and growing production and recovery space that is closely aligned with our returns-focused, capital-light strategy,&#8221; 
As of Dec. 31, 2023, Schlumberger&#8217;s cash and short-term <a href="https://www.benzinga.com/pressreleases/24/01/b36692786/slb-announces-fourth-quarter-and-full-year-2023-results-and-raises-quarterly-dividend-by-10" target="_blank" rel="noreferrer noopener">investments stood at $3.99 billion</a>.
Investors can gain exposure to ChampionX and Schlumberger via&nbsp;Invesco Oil &amp; Gas Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXJ#NYSE">PXJ</a>),&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>), and&nbsp;IShares U.S. Oil Equipment &amp; Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: CHX shares are up 8.45% at $38.40 and SLB is down 2.68% at $53.74 on the last check Tuesday.

Guidance

Dividends

ChampionX, Schlumberger Shares Move In Opposite Directions After $8B Deal Announcement

The U.S. and Iran completed a prisoner swap that could anticipate improving relations between the two nations.
The deal, which freed 10 people — five Iranians and five Americans — also unlocked $6 billion in oil funds that the U.S. was holding from the Middle-Eastern nation.
Positive U.S.-Iran relations emerged during the post-war years but quickly deteriorated after the Iranian Revolution, which overthrew the last royal dynasty in 1979 and established the current Islamic Republic of Iran. By 1980 the two countries had ceased formal diplomatic relations.
The decades that followed were conflict-filled as the U.S. launched a long campaign of military intervention in the Middle East. The last decade was marked by U.S.-led pressure to limit Iran's nuclear weapons program through economic embargoes and sanctions which pressed heavily on the oil industry.
Iran's nuclear program: Iran is currently not known to possess any nuclear weapons but is publicly aiming for their development. The construction of uranium enrichment facilities beginning in the early 2000s has been a consistent cause of concern for the West.
Since 2015, the U.S. has been involved in efforts to oversee the dismantlement of Iran's nuclear weapons program through an initiative led by President Barack Obama, which leveraged lifting some sanctions in exchange for the deal. President Donald Trump pulled the U.S. from the agreement in 2018 leading Iran to boost its uranium enrichment program and launching the two countries into new military tensions.
Iran's involvement in the <a href="https://www.benzinga.com/topic/russia-ukraine-war">Ukraine war</a> has also raised concern for NATO powers as the country quickly became one of Russia's closest allies after Moscow was cut off from the West. 
Dozens of Russia-controlled, Iran-made fighter drones were spotted on the Ukrainian front. <a href="https://foreignpolicy.com/2023/01/05/iran-russia-drones-ukraine-war-military-cooperation/#cookie_message_anchor">According</a> to Foreign Policy, the two countries are deepening ties for mutual benefit and could become powerful allies in overcoming many of the sanctions imposed by the West.
Read Also:<a href="https://www.benzinga.com/news/23/09/34465170/lindsey-graham-blasts-us-iran-prisoner-release-deal-that-will-unfreeze-6b-in-frozen-funds-dollars-wi"> Lindsey Graham Blasts US-Iran Prisoner Release Deal That Will Unfreeze $6B In Frozen Funds: &#8216;Dollars Will Now Flow To The Ayatollah&#8217;</a>
Prisoner release and oil money: In this context, the diplomatic success story of a prisoner swap could mean an opening up of new talks between the U.S. and Iran.&nbsp;
"As we welcome home our fellow citizens, I once more remind all Americans of the serious risks of traveling to Iran. American passport holders should not travel there," said President Joe Biden in a speech following the prisoners' release.
Adding to the prisoners, the U.S. agreed to unfreeze $6 billion in Iran's name which was held in South Korea. The money came from the purchase of Iranian oil by the Asian country in 2018, which became stuck after Trump increased sanctions on Iran in 2019, The Washington Post <a href="https://www.washingtonpost.com/national-security/2023/09/18/us-iran-prisoner-exchange/">reported</a>. Republican lawmakers recently <a href="https://www.benzinga.com/news/23/08/33998105/top-house-republicans-raise-alarm-over-bidens-6b-iran-deal">expressed discontent with unfreezing the funds</a>.
Iran won't be allowed to use the capital for sanctioned goods, which include weapons, and its expenditure will be overseen by the U.S. government to make sure it&#8217;s used to purchase resources like food or medicine.
Impact on the oil industry: As part of a long list of U.S. sanctions that have accumulated since 1979, U.S.-based companies are barred from investing in Iran's oil industry.
In 2019, former Secretary of State Mike Pompeo announced that the U.S. would begin imposing sanctions on Chinese companies importing Iranian oil. Iran maintains close commercial ties with China, which remains its largest trading partner over the last decade with bilateral trade amounting to $15.8 billion in 2022.&nbsp;
<a href="https://www.benzinga.com/news/23/09/34195070/us-china-tensions-likely-to-persist-as-chinese-president-xi-may-skip-g20-summit-biden-says-disappoin">Tensions between the U.S. and China</a> have been on the rise in recent years over <a href="https://www.benzinga.com/news/23/09/34187818/xi-jinpings-mouthpiece-warns-us-of-storm-of-lethal-consequences-over-taiwan-support-overstepped-a-re">issues concerning the sovereignty of Taiwan</a>, conflicting geopolitical influence and the domination of <a href="https://www.benzinga.com/markets/asia/23/06/33050727/the-us-is-trying-to-weaken-chinas-semiconductor-industry-heres-what-china-is-doing-to-fight-back-in">key technological sectors including AI and semiconductors</a>.
Earlier this month, the U.S. seized 1 million barrels of crude oil from a Greek tanker owned by a company that was declared guilty of smuggling sanctioned Iranian oil.
During his presidential campaign, Biden vowed to renew the lost nuclear deal with Iran. While talks have been slow, renewing the deal would naturally involve stepping back on several of the sanctions imposed by the Trump administration.
Releasing sanctions on Iranian oil could impact the energy industry by pumping more oil into the system. Iran is an OPEC member and the 14th largest oil exporter by official numbers, though it&#8217;s believed the country exports a lot more oil through unofficial means.
In 2021, Iran accounted for 24% of oil reserves in the Middle East and 12% in the world, according to the U.S. Energy Information Administration.
If U.S.-Iran talks improve and the countries return to talks of a new nuclear deal, the U.S. would remove sanctions, potentially impacting oil and energy ETFs. These include:
<ul>
<li>iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEO#BATS">IEO</a>)</li>
<li>ProShares Ultra Bloomberg Crude Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCO#NYSE">UCO</a>)</li>
<li>Invesco DB Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBO#NYSE">DBO</a>)</li>
<li>iShares US Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>)</li>
</ul>

Read Next:<a href="https://www.benzinga.com/general/23/09/34696904/dire-consequences-for-billions-opec-blasts-ieas-fossil-fuel-demand-forecast-warns-of-energy-chaos-on"> Dire Consequences&#8217; For Billions: OPEC Blasts IEA&#8217;s Fossil Fuel Demand Forecast, Warns Of &#8216;Energy Chaos&#8217; On Unprecedented Scale — 3 Top Oil Stocks From Wall Street</a>

\Photo: Unsplash

Politics

Global

A Prisoner Exchange With Iran Could Impact The Oil Sector: Here's How

The Nasdaq-100 recently hit record highs and the S&amp;P 500 is almost all the way back to its pre-coronavirus slump record.
Some market segments and the <a href="https://www.benzinga.com/etfs/sector-etfs/20/06/16158957/3-soaring-cybersecurity-etfs">related exchange-traded funds</a> are doing even better than those broader benchmarks. At the sector level, technology and health care maintain leadership perches and there are signs of life in some previously lagging sectors.
Those green shoots are important, but some ETFs, <a href="https://www.benzinga.com/trading-ideas/long-ideas/20/05/16124176/leveraged-oil-etn-is-a-robinhood-hit-too">many of which have ties to oil</a>, are getting absolutely drubbed in 2020. The 10 worst-performing non-leveraged ETFs this year are sporting losses ranging from around 44% to just over 72%. Many are a direct play on crude.
Here&#39;s a trio that are getting crushed, but a couple are recently rebounding.
<h3>Invesco Dynamic Oil &amp; Gas Services ETF (PXJ)</h3>
How the Invesco Dynamic Oil &amp; Gas Services ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pxj#NYSE">PXJ</a>) avoided a reverse split could become the stuff of ETF lore because at its March nadir, the fund traded as low as $1.57. PXJ isn&#39;t out of the reverse split woods quite yet with last Friday&#39;s close of $3.02.
That is to say PXJ has nearly doubled off its March lows and is higher by almost 44% over the past month, but is still saddled with a year-to-date loss of about 46%.
PXJ&#39;s roster includes &ldquo;companies that are engaged in the drilling of oil and gas wells; manufacturing oil and gas field machinery and equipment; or providing services to the oil and gas industry, such as well analysis, platform and pipeline engineering and construction, logistics and transportation services, oil and gas well emergency management and geophysical data acquisition and processing,&rdquo; <a href="https://www.invesco.com/us/financial-products/etfs/product-detail?productId=ETF-PXJ">according to Invesco</a>.
Translation: PXJ needs oil prices and demand to rise for its share price to do the same.
<h3>iShares U.S. Oil Equipment &amp; Services ETF (IEZ)</h3>
Many of the same sentiments that apply to the aforementioned PXJ are applicable to the iShares U.S. Oil Equipment &amp; Services ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iez#NYSE">IEZ</a>). IEZ, which tracks the Dow Jones U.S. Select Oil Equipment &amp; Services Index, labored in the single digits until last Friday when it jumped almost 11%.
Even with a 52.28% gain over the past month, IEZ is down more than 47% this year. The fate of IEZ largely boils down to Schlumberger (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slb#NYSE">SLB</a>) and Baker Hughes (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhi#NYSE">BHI</a>) because those stocks combine for 38.16% of the fund&#39;s roster.
On the bright side for both IEZ and PXJ <a href="https://www.benzinga.com/analyst-ratings/analyst-color/20/05/16127812/analyst-upgrades-oil-services-stocks-predicts-doubling-of-us-rig-activity">is that some analysts</a> view the oil services group as so beaten up that there could be plenty more upside to be had even with the recent rally in the group.
<h3>United States Brent Oil Fund (BNO)</h3>
Not nearly <a href="https://www.benzinga.com/analyst-ratings/analyst-color/20/04/15891645/an-oil-etf-for-the-daring">as controversial or slumping</a> as its stablemate the United States Oil Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uso#NYSE">USO</a>), the United States Brent Oil Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bno#NYSE">BNO</a>) is still down more than 47% year to date.
The Organization of Petroleum Exporting Countries recently said it will extend output cuts and that should provide some runway for upside for BNO, assuming those cuts are realized and demand perks up.

Long Ideas

Penny Stocks

Short Ideas

3 ETFs Getting Absolutely Crushed This Year

The S&amp;P 500 is lower by nearly 8 percent on a year-to-date basis, indicating it&#39;s going to take a lot of work in a short amount of time for the index to close 2018 on an upbeat note.
There are over 2,200 exchange traded funds and exchange traded notes listed in the U.S. As of Dec. 26, nearly 1,900 of those products are <a href="https://finviz.com/screener.ashx?v=111&amp;f=ind_exchangetradedfund,ta_perf_ytddown&amp;ft=3">down year-to-date</a>. The list of the worst offenders, those ETFs down 50 percent or more, is small and littered with leveraged products.
Trim the parameter to ETFs down 30 percent or more, and the list more than quadruples to over 100 funds, plenty of which are traditional beta products.
So without further ado, here is a look at some of 2018&#39;s most egregious offenders from the world of ETFs.
VanEck Vectors Rare Earth/Strategic Metals ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/remx#NYSE">REMX</a>)
Year-To-Date Loss: 55.47 percent
The list of U.S.-listed ETFs down 50 percent or more this year is populated by 25 funds, 24 of which are leveraged. The exception is the VanEck Vectors Rare Earth/Strategic Metals ETF. REMX has not closed above its 200-day moving average since May and <a href="https://finviz.com/quote.ashx?t=REMX">the charts indicate</a> little in the way of near-term improvement as the rare earths ETF is down almost 26 percent this month and more than 34 percent in the fourth quarter.
REMX is more than eight years old and when the fund debuted in October 2010, it debuted to a solid thesis. That being demand for rare earths would be boosted by the growing smart phone, electric and hybrid car and military equipment markets.
<a href="https://www.benzinga.com/trading-ideas/long-ideas/18/12/12901419/5-best-etfs-of-2018">Click here to read about the best ETFs of the year.</a>
iShares U.S. Oil Equipment &amp; Services ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iez#NYSE">IEZ</a>)
YTD Loss: 45.71 percent
Another offender from the world of energy and raw materials. The iShares U.S. Oil Equipment &amp; Services ETF and other oil services are usually highly correlated to oil prices in both directions. That has been the case during oil&#39;s recent swoon as highlighted by IEZ&#39;s fourth-quarter decline of almost 44 percent.
IEZ, which tracks the Dow Jones U.S. Select Oil Equipment &amp; Services Index, needs Schlumberger NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slb#NYSE">SLB</a>) and Halliburton (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hal#NYSE">HAL</a>) to get going because that duo combines for almost 28 percent of the fund&#39;s weight.
Global X MSCI Argentina ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/argt#NYSE">ARGT</a>)
YTD Loss: 35.37 percent
Things weren&#39;t supposed to be this way for the Global X MSCI Argentina ETF and Argentine stocks in 2018. Stocks in South America&#39;s second-largest economy rallied last year amid homes the country would receive the coveted frontier-to-emerging markets promotion from index provider MSCI, something that did happen this year.
That wasn&#39;t nearly enough to prop up Argentine stocks, however, amid fears of another currency crisis. Argentina&#39;s efforts to keep its currency, the peso, above water have led to a jaw-dropping benchmark interest rate of 60 percent.
Along the way, ARGT&#39;s year-to-date loss is more than double that of the MSCI Emerging Markets Index. To be fair to ARGT, it&#39;s not the only offender among Argentina ETFs. The iShares MSCI Argentina and Global Exposure ETF (CBOE: AGT) is down 36 percent this year.
First Trust Natural Gas ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcg#NYSE">FCG</a>)
YTD Loss: 34.64 percent
The First Trust Natural Gas ETF has a rich tradition<a href="https://www.benzinga.com/trading-ideas/long-ideas/18/11/12703781/dare-to-short-natural-gas-this-might-be-the-way-to-do-it"> of being a dog</a>, even when natural gas prices rise and that&#39;s again the case in 2018. Yes, natural gas prices have plunged this month, but it&#39;s deeply concerning for the FCG bull thesis, if that thesis still exists, that the United States Natural Gas Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ung#NYSE">UNG</a>) is up 21 percent this year and FCG is down 34.64 percent.
The ETF has seen 2018 outflows of less than $40 million, but that&#39;s good for approximately a third of the assets under management the fund at the start of the year.
Global X Copper Miners ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/copx#NYSE">COPX</a>)
YTD Loss: 32.10 percent
The list of ETFs down 30 percent or more this year is littered with thematic funds, including the Global X Copper Miners ETF. What makes COPX&#39;s 2018 struggles alarming is that the copper miners fund&#39;s losses have easily overshot those of the largest copper ETN and the lone ETF tracking stocks in Chile, the world&#39;s largest copper producer.
The struggles of COPX and other copper-related ETFs can be tied to fears of a global economic slowdown, which market observers believe will ensnare the Chinese economy. The world&#39;s second-largest economy reported lower-than-expected third-quarter GDP growth, giving traders another reason to punish copper and the corresponding investment vehicles.

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Market Vectors Rare Earth/Strategic Metals Etf

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