Royal Bank of Canada Boosts Stock Holdings in VanEck Oil Services ETF $OIH

Royal Bank of Canada grew its stake in shares of VanEck Oil Services ETF (NYSEARCA:OIH) by 62.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,889 shares of the company’s stock after buying an additional 31,116 shares during the quarter. Royal Bank of Canada’s holdings in VanEck Oil Services ETF were worth $32,696,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. SBI Securities Co. Ltd. lifted its stake in shares of VanEck Oil Services ETF by 66.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 88 shares of the company’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. Wexford Capital LP bought a new position in VanEck Oil Services ETF during the 3rd quarter worth approximately $27,000. Advisors Preferred LLC purchased a new position in VanEck Oil Services ETF in the 1st quarter worth approximately $31,000. Greykasell Wealth Strategies Inc. purchased a new position in VanEck Oil Services ETF in the 4th quarter worth approximately $33,000. Finally, Empowered Funds LLC purchased a new position in VanEck Oil Services ETF in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

VanEck Oil Services ETF Stock Performance

Shares of OIH stock opened at $382.13 on Tuesday. The company has a market capitalization of $1.89 billion, a P/E ratio of 10.97 and a beta of 0.87. VanEck Oil Services ETF has a fifty-two week low of $232.39 and a fifty-two week high of $459.28. The stock has a 50 day moving average price of $392.81 and a two-hundred day moving average price of $393.61.

More VanEck Oil Services ETF News

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

• Positive Sentiment: U.S. shale producers are expected to report their strongest quarterly profits since 2022 following the Iran-related oil rally. Analysts anticipate that much of the cash flow could be returned to shareholders, supporting the financial health and spending capacity of companies that use oilfield-services providers. War-fueled oil rally set to lift shale profits to highest since 2022
• Positive Sentiment: Above-normal temperatures are expected to support U.S. power-sector demand for natural gas, providing a modestly favorable backdrop for diversified energy-service companies. U.S. Natural Gas Futures Steady to Start the Week
• Neutral Sentiment: Crude markets have stabilized near technical support as traders assess ongoing Middle Eastern supply risks and key resistance levels, leaving the near-term outlook highly headline-sensitive. Natural Gas and Oil Forecast: WTI and Brent Rebound as Middle East Supply Risks Persist
• Negative Sentiment: Oil prices fell amid expectations that the Strait of Hormuz could reopen, reducing the risk of a prolonged supply disruption and removing some of the geopolitical premium from crude. Oil Falls Amid Prospects for Reopening of Strait of Hormuz
• Negative Sentiment: U.S. oil exports dropped to 3.66 million barrels per day in July, their lowest level in eight months, as Middle Eastern supply temporarily reduced overseas demand for American crude. The weaker export environment may pressure producer activity and service demand. US oil exports in July fall to lowest level in eight months
• Negative Sentiment: OPEC+ approved another production increase of approximately 188,000 barrels per day for September, completing the rollback of voluntary cuts. Additional supply could cap crude prices and reduce producers’ incentive to increase drilling and oilfield-services spending. OPEC+ agrees to September oil hike

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.