ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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Jacob Snyder

Sun Tzu

From: ItsAllCyclical	2/16/2022 10:42:21 AM
	3 Recommendations Read Replies (2) of 96636

CHX is the cheapest mid cap in the oil service sector on my radar. One more Q of mediocre earnings and then margins/sales should greatly expand. Looking for 30+ EOY, and 40 or more in 2023. Management has said they will not take any business that hurts margins going forward, I suspect others in the sector will be doing the same. Chart may still take time to bottom, downside to 21 potentially and upside to 25 near term. This is far more about underspending on oil cap ex over the previous 5 years combined w/OPEC not keeping up w/basic 400K increase than anything w/Ukraine. Multi-year cycle ahead still for oil service. Like when I recommended HAL, this will require some patience ST, but should really get going after next Q's earnings if not prior.

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