Better Buy: Baker Hughes vs. Core Laboratories
The worldwide effort to contain COVID-19 by effectively shutting down broad swaths of the global economy has devastated the energy industry. Vital energy services providers Baker Hughes (NYSE: BKR) and Core Laboratories (NYSE: CLB) are down 44% and 54%, respectively, so far in 2020. Is one of these two companies a better buy than the other? Here's a quick comparison to help you decide.
Although neither Baker Hughes nor Core Labs is directly reliant on energy prices for their top and bottom lines, that doesn't mean there's no impact. Both companies provide services to the energy sector. When oil and natural gas prices are low, exploration and production companies tend to pull back on their capital investment plans. That basically means less demand for the products and services that Baker Hughes and Core Labs offer.
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Source Fool.com