NBR - Why These 3 Oil Stocks Popped More Than 10% in May
Shares of oilfield services companies Halliburton (NYSE: HAL), NOW, Inc. (NYSE: DNOW), and Nabors Industries (NYSE: NBR) jumped more than 10% in May, according to data provided by S&P Global Market Intelligence.
Services generalist Halliburton saw its shares rise 11.9%, while the stock of equipment distributor NOW was up 20.8%. Perhaps the biggest winner of the entire oil sector for the month, though, was Nabors, whose shares skyrocketed a jaw-dropping 151.6% in May.
All three companies outpaced the overall oil and gas services sector as measured by the SPDR S&P Oil & Gas Equipment & Services ETF, which was up 11.2% for the month. Meanwhile, the S&P 500 only increased by 4.5% over the same period.