Why Shares of the 3 Top Oil Field Services Companies Fell in January
Shares of the three biggest oil field services companies, Schlumberger (NYSE: SLB), Baker Hughes (NYSE: BKR), and Halliburton (NYSE: HAL), fell by double-digit percentages in January. Halliburton's shares were down 10.9%, Baker Hughes' shares dropped 15.5%, and Schlumberger's performed the worst, tumbling 16.6%.
All three companies reported lackluster fourth quarter earnings during the month, but the primary cause of the drop seems to have been tumbling oil prices.
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Source Fool.com
