Helix Energy Solutions, ProFrac, Oceaneering, DHT Holdings, and Tenaris Shares Are Soaring, What You Need To Know

What Happened?

A number of stocks jumped in the afternoon session after geopolitical tensions in the Middle East escalated, pushing crude oil prices sharply higher. 

President Trump's televised remarks signaled that the U.S. conflict with Iran could continue for several more weeks, increasing investor nervousness. This uncertainty drove West Texas Intermediate and Brent crude prices up. With supply potentially constrained, markets are anticipating that higher global oil prices will be reflected in stronger earnings for oil and gas companies.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Oilfield Services company Helix Energy Solutions (NYSE:HLX) jumped 2.6%. Is now the time to buy Helix Energy Solutions? Access our full analysis report here, it’s free.
• Oilfield Services company ProFrac (NASDAQ:ACDC) jumped 2.7%. Is now the time to buy ProFrac? Access our full analysis report here, it’s free.
• Oilfield Services company Oceaneering (NYSE:OII) jumped 2.8%. Is now the time to buy Oceaneering? Access our full analysis report here, it’s free.
• Infrastructure company DHT Holdings (NYSE:DHT) jumped 4%. Is now the time to buy DHT Holdings? Access our full analysis report here, it’s free.
• Infrastructure company Tenaris (NYSE:TEN) jumped 4.4%. Is now the time to buy Tenaris? Access our full analysis report here, it’s free.

Zooming In On Tenaris (TEN)

Tenaris’s shares are somewhat volatile and have had 14 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

Tenaris is up 85.2% since the beginning of the year, and at $40.55 per share, has set a new 52-week high. Investors who bought $1,000 worth of Tenaris’s shares 5 years ago would now be looking at an investment worth $4,172.

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