Cactus
About: Cactus Inc is engaged in the designing, manufacturing, and sale of wellheads and pressure control equipment. Its principal products include Cactus SafeDrill wellhead systems, conventional wellheads, and production valves among others. The company also provides mission-critical field services, including service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents. It sells or rents its products principally for onshore unconventional oil and gas wells that are utilized during the drilling, completion (including fracturing), and production. The company has two operating segments; Pressure Control , which generates key revenue and Spoolable Technologies.
Employees: 1,600
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
20% more capital invested
Capital invested by funds: $3.56B [Q1] → $4.28B (+$726M) [Q2]
20% more first-time investments, than exits
New positions opened: 49 | Existing positions closed: 41
14.82% more ownership
Funds ownership: 108.73% [Q1] → 123.55% (+14.82%) [Q2]
3% more funds holding
Funds holding: 254 [Q1] → 262 (+8) [Q2]
8% more repeat investments, than reductions
Existing positions increased: 100 | Existing positions reduced: 93
0% more funds holding in top 10
Funds holding in top 10: 1 [Q1] → 1 (+0) [Q2]
60% less call options, than puts
Call options by funds: $211K | Put options by funds: $527K
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
Barclays David Anderson 30% 1-year accuracy 8 / 27 met price target | 2%downside $61 | Overweight Maintained | 5 Aug 2024 |
Piper Sandler Bill Herbert 0 / 0 met price target | 13%downside $54 | Neutral Maintained | 15 Jul 2024 |
Citigroup Scott Gruber 54% 1-year accuracy 14 / 26 met price target | 16%downside $52 | Neutral Maintained | 10 Jul 2024 |