Oil Services Stocks
Top 10 of 35 XES holdings, updated
As of 12 October 2026, oil services stocks are losing ground: still ahead of the S&P 500 over the longer run, but behind over the past month. XES trails the S&P 500 by 11.5 points over one month and ranks #108 of 115 groups Zensei tracks. 20 of the 35 oil services stocks Zensei prices in XES beat the fund this month.
Where oil services stocks stand now
As of 12 October 2026, Oil & Gas Equipment & Services (XES) ranks #108 of the 115 groups Zensei tracks by one-month return against the S&P 500, among the market's weakest pockets. It is losing its lead. It built a 5.7-point advantage over the S&P 500 across the longer, time-shifted window, but over the past month it has slipped 11.5 points behind the market — the Cooling quadrant of the rotation map.
On the shorter tape, XES's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. XES's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via SPDR S&P Oil & Gas Equipment & Services ETF, whose 35 tracked holdings are led by Solaris Energy Infrastructure Inc, Select Water Solutions Inc and Valaris Ltd. Weighted by portfolio, the fund's holdings trade at roughly 21.1× earnings. The thing to watch from here is whether this is a pause or a handoff: cooling groups sometimes reset and reclaim leadership, but a deepening one-month deficit usually means rotation has moved on.
Top oil services stocks right now
The largest oil services stocks by weight in XES, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Largest by fund weight
Share of XES
- 1Solaris Energy Infrastructure IncSEI4.4%
- 2Select Water Solutions IncWTTR3.9%
- 3Valaris LtdVAL3.7%
- 4Archrock IncAROC3.7%
- 5Oceaneering International IncOII3.7%
Strongest this month
1-month return, holdings Zensei prices
- 1Solaris Energy Infrastructure IncSEI+17.8%
- 2Forum Energy Technologies IncFET+3.2%
- 3Valaris LtdVAL+1.5%
- 4Transocean LtdRIG−1.1%
- 5Seadrill LtdSDRL−1.9%
Oil Services Stocks vs the S&P 500
Over the week to 12 October 2026, XES fell 2.0% while the S&P 500 rose 0.4%. XES and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means XES won that window.
Prices as of · computed from daily adjusted closes · how we measure
Oil & Gas Equipment & Services on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are oil services stocks expensive?
The price-to-earnings ratio of XES as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out.
XES holdings: the oil services stocks inside
As of 12 October 2026, 20 of the 35 oil services stocks Zensei prices in XES beat the fund over the past month. 2 of them beat the S&P 500. The strongest is Solaris Energy Infrastructure Inc (SEI); the weakest is National Energy Services Reunited Corp (NESR). Inside the fund, one or two outliers drive most of the move.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | SEISolaris Energy Infrastructure Inc | 4.4% | +17.8% | +18.3% | +27.3 pts | Accelerating | Strong |
| 2 | WTTRSelect Water Solutions Inc | 3.9% | −6.3% | −0.8% | +3.1 pts | Fading | Fading |
| 3 | VALValaris Ltd | 3.7% | +1.5% | +6.8% | +10.9 pts | Accelerating | Strong |
| 4 | AROCArchrock Inc | 3.7% | −7.5% | −19.9% | |||
| 5 | OIIOceaneering International Inc | 3.7% | −13.1% | +2.8% | |||
| 6 | SDRLSeadrill Ltd | 3.7% | −1.9% | +11.1% | |||
| 7 | WHDCactus Inc | 3.6% | −9.4% | +18.1% | |||
| 8 | RIGTransocean Ltd | 3.6% | −1.1% | +4.5% | |||
| 9 | NENoble Corp PLC | 3.6% | −5.2% | +3.9% | |||
| 10 | TDWTidewater Inc | 3.5% | −7.0% | +16.3% |
All 35 XES holdings by weight: Solaris Energy Infrastructure Inc (SEI) 4.4%, Select Water Solutions Inc (WTTR) 3.9%, Valaris Ltd (VAL) 3.7%, Archrock Inc (AROC) 3.7%, Oceaneering International Inc (OII) 3.7%, Seadrill Ltd (SDRL) 3.7%, Cactus Inc (WHD) 3.6%, Transocean Ltd (RIG) 3.6%, Noble Corp PLC (NE) 3.6%, Tidewater Inc (TDW) 3.5%, Technipfmc PLC (FTI) 3.5%, Baker Hughes Co (BKR) 3.5%, Liberty Energy Inc (LBRT) 3.5%, Nov Inc (NOV) 3.5%, Helmerich & Payne Inc (HP) 3.5%, Patterson-Uti Energy Inc (PTEN) 3.5%, Weatherford International PLC (WFRD) 3.4%, Halliburton Co (HAL) 3.4%, Slb Ltd (SLB) 3.4%, Kodiak Gas Services Inc (KGS) 3.4%, Nabors Industries Ltd (NBR) 3.1%, National Energy Services Reunited Corp (NESR) 2.9%, Propetro Holding Corp (PUMP) 2.7%, Expro Ltd (XPRO) 2.4%, Atlas Energy Solutions Inc (AESI) 2.3%, Tetra Technologies Inc (TTI) 1.9%, Flowco Holdings Inc (FLOC) 1.9%, Forum Energy Technologies Inc (FET) 1.8%, Innovex International Inc (INVX) 1.7%, Hornbeck Offshore Services Inc (HOS) 1.7%, Bristow Group Inc (VTOL) 1.5%, Rpc Inc (RES) 1.3%, Core Laboratories Inc (CLB) 1.1%, Oil States International Inc (OIS) 0.8%, Natural Gas Services Group Inc (NGS) 0.6%.
Oil Services Stocks: common questions
What are the top 3 oil services stocks?
As of 12 October 2026, the three largest oil services stocks in XES by fund weight are Solaris Energy Infrastructure Inc (SEI) (4.4%), Select Water Solutions Inc (WTTR) (3.9%) and Valaris Ltd (VAL) (3.7%). Fund weight shows size inside the fund, not a recommendation.
Which oil services stocks are beating the sector?
As of 12 October 2026, 20 of the 35 oil services stocks Zensei prices in XES beat the fund over the past month. The strongest over the past month is Solaris Energy Infrastructure Inc (SEI). The list above shows every holding with its weight and returns.
Are oil services stocks outperforming the S&P 500?
No. As of 12 October 2026, XES trails the S&P 500 by 11.5 points over the past month.
Is it a good time to invest in oil services stocks?
Zensei does not give investment advice, but it measures the trend. As of 12 October 2026, oil services stocks are ahead of the S&P 500 over the longer window but behind over the past month, a fading lead. The rotation map and the read on this page show whether that trend is building or fading.
What is XES?
XES is SPDR S&P Oil & Gas Equipment & Services ETF. Zensei uses it to measure oil services stocks against the S&P 500 (SPY).
What stocks does XES own?
As of 12 October 2026, the largest of the 35 positions Zensei tracks in XES are Solaris Energy Infrastructure Inc, Select Water Solutions Inc, Valaris Ltd, Archrock Inc, Oceaneering International Inc. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is oil & gas equipment & services in right now?
As of 12 October 2026, oil & gas equipment & services is in the Cooling quadrant — still ahead over the longer window, but behind the market over the past month. The Zensei methodology page explains the quadrants.
Recent changes
- ·First tracked: losing ground
Related sectors
Track oil & gas equipment & services against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.