Howard Capital Management Group LLC purchased a new stake in VanEck Oil Services ETF (NYSEARCA:OIH – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,090 shares of the company’s stock, valued at approximately $1,926,000. Howard Capital Management Group LLC owned 0.11% of VanEck Oil Services ETF as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Employees Provident Fund Board bought a new stake in shares of VanEck Oil Services ETF during the 4th quarter worth $69,336,000. Acorn Financial Advisory Services Inc. ADV acquired a new position in VanEck Oil Services ETF in the 1st quarter valued at $18,882,000. Bank of America Corp DE raised its holdings in VanEck Oil Services ETF by 11.1% in the 1st quarter. Bank of America Corp DE now owns 422,973 shares of the company’s stock worth $170,970,000 after acquiring an additional 42,166 shares during the period. Royal Bank of Canada raised its holdings in VanEck Oil Services ETF by 62.5% in the 1st quarter. Royal Bank of Canada now owns 80,889 shares of the company’s stock worth $32,696,000 after acquiring an additional 31,116 shares during the period. Finally, Arlington Capital Management Inc. bought a new position in VanEck Oil Services ETF in the 2nd quarter worth $9,317,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.
VanEck Oil Services ETF Trading Up 1.5%
VanEck Oil Services ETF stock traded up $5.59 on Friday, reaching $382.18. 218,475 shares of the stock were exchanged, compared to its average volume of 439,561. The stock has a market cap of $1.82 billion, a PE ratio of 10.97 and a beta of 0.96. VanEck Oil Services ETF has a twelve month low of $246.20 and a twelve month high of $459.28. The firm has a fifty day moving average price of $405.22 and a two-hundred day moving average price of $405.44.
Key Stories Impacting VanEck Oil Services ETF
Here are the key news stories impacting VanEck Oil Services ETF this week:
- Positive Sentiment: WTI and Brent advanced sharply as traders prepared for a possible escalation between the U.S. and Iran, increasing concern about disruptions to Middle East production and shipping through the Strait of Hormuz. Oil soars as traders prepare for Middle East escalation
- Positive Sentiment: U.S. commercial crude inventories fell by 8.6 million barrels, while an earlier API report indicated an 11.1 million-barrel draw. Lower inventories, reduced production and imports, and stronger refinery utilization support higher crude prices and oilfield-services demand. U.S. crude stockpiles post large weekly drop
- Positive Sentiment: Technical forecasts point to continued bullish momentum, with WTI potentially targeting $100 after breaking out of a falling-wedge pattern. Higher oil prices could improve producers’ capital-spending outlook, benefiting OIH holdings. WTI targets $100
- Neutral Sentiment: The U.S. is soliciting an exchange involving up to 17 million barrels from the Strategic Petroleum Reserve, while the International Energy Agency plans an emergency release exceeding 400 million barrels, including more than 20 million barrels of diesel. These measures may temporarily ease prices but also underscore the severity of supply risks. IEA oil-stock release
- Negative Sentiment: Potential easing of U.S. sanctions on shadow-fleet tankers, Saudi Aramco’s offer of additional European cargoes, and recovering Gulf exports could improve supply and reduce shipping costs, limiting crude’s upside and creating a headwind for OIH. Saudi Aramco offers extra crude cargoes
VanEck Oil Services ETF Company Profile
The VanEck Oil Services ETF (OIH) is an exchange-traded fund that is based on the MVIS US Listed Oil Services 25 index, a market-cap-weighted index of 25 of the largest US-listed, publicly traded oil services companies. OIH was launched on Feb 7, 2001 and is managed by VanEck.
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