Goldman Sachs Group Inc. Cuts Stock Position in VanEck Oil Services ETF $OIH

Goldman Sachs Group Inc. lessened its stake in VanEck Oil Services ETF (NYSEARCA:OIH) by 32.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 810,301 shares of the company’s stock after selling 396,127 shares during the quarter. Goldman Sachs Group Inc. owned 0.14% of VanEck Oil Services ETF worth $230,749,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OIH. SBI Securities Co. Ltd. grew its stake in VanEck Oil Services ETF by 66.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 88 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. Wexford Capital LP purchased a new position in VanEck Oil Services ETF in the third quarter valued at about $27,000. Founders Financial Alliance LLC purchased a new position in VanEck Oil Services ETF in the third quarter valued at about $33,000. Advisory Services Network LLC purchased a new position in VanEck Oil Services ETF in the third quarter valued at about $43,000. Finally, Qube Research & Technologies Ltd purchased a new position in VanEck Oil Services ETF in the second quarter valued at about $53,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

VanEck Oil Services ETF Price Performance

OIH opened at $414.70 on Friday. The business’s 50-day moving average is $423.83 and its two-hundred day moving average is $366.68. VanEck Oil Services ETF has a 1 year low of $226.48 and a 1 year high of $459.28. The firm has a market capitalization of $2.32 billion, a PE ratio of 10.97 and a beta of 0.85.

VanEck Oil Services ETF News Summary

Here are the key news stories impacting VanEck Oil Services ETF this week:

• Positive Sentiment: Geopolitical risk remains elevated, with Iran threatening a key Red Sea chokepoint and broader concerns over the Strait of Hormuz keeping a supply shock in play; that can support oil prices and benefit oil services companies. Iran’s threats against this Red Sea chokepoint are a big vulnerability for the oil market
• Positive Sentiment: Reuters reported global oil inventories are running very low and warned that another price spike could hit markets soon, reinforcing the idea of tighter supply and potentially stronger drilling/service demand. Global oil inventories depleted, next price spike could roil economies, markets
• Positive Sentiment: US oil exports are surging and domestic crude inventories are being drawn down, another sign of a tight market that could support upstream spending and oilfield activity. US oil exports surge, draining domestic crude inventories toward rock bottom
• Neutral Sentiment: Several updates suggest oil prices have softened on peace-talk hopes, a firmer dollar, and easing immediate war fears, which can temporarily pressure oil services shares. Oil News: Oil Outlook Darkens as Dollar Surge Pressures Futures
• Neutral Sentiment: Market commentary also pointed to a possible technical correction and consolidation in crude, adding near-term volatility for OIH without changing the broader bullish backdrop. Oil Futures Fall on Possible Technical Correction
• Negative Sentiment: Recent reports said oil prices fell as Lebanon-Israel ceasefire hopes and U.S.-Iran peace expectations reduced the immediate supply-risk premium, which can weigh on oil service equities like OIH. Oil falls as Lebanon and Israel agree to implement ceasefire

VanEck Oil Services ETF 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.