Shares of oil and gas engineering and services companies are trading higher amid crude price gains due to continued Iranian demands over war reparations, unfreezing of sanctioned assets, and Strait of Hormuz tolling as negotiations with the U.S. may have reached an impasse.

8-K filing — ProFrac Holding Corp. (ACDC)

Filed: 2026-09-16 AccNo: 0001104659-26-108302 Size: 355 KB Item 1.01: Entry into a Material Definitive Agreement Item 2.03: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant Item 9.01: Financial Statements and Exhibits

Morgan Stanley Maintains Underweight on ProFrac Holding, Lowers Price Target to $4.5

Morgan Stanley analyst Joe Laetsch maintains ProFrac Holding (NASDAQ:ACDC) with a Underweight and lowers the price target from $5 to $4.5.

ProFrac Holding shares are trading lower after the company reported worse-than-expected Q2 sales results.

Gas Turbine Market to Grow from USD 17.80 Billion in 2025 to USD 30.10 Billion by 2035 – Research by SNS Insider

The global gas turbine market is projected to grow at a 5.40% CAGR from 2026 to 2035, driven by coal-to-gas power plant conversions, AI-driven data center demand, and adoption of hydrogen and ammonia-ready combustion technologies. North America leads with 29.50% market share, while Asia Pacific records the fastest growth at 8.30% CAGR. Data centers emerge as the fastest-growing sector with 11.20% CAGR.

Shares of oil and gas engineering and services companies are trading lower. Saudi Arabia's reported oil production decline and a drone strike on its East-West oil pipeline, along with continued vessel strikes in the ongoing Strait of Hormuz conflict, may lead to lucrative Middle East contracts being delayed or canceled.

Baker Hughes CEO Sees No 'Slowdown' in Energy Projects, Says High Prices Could Spur New Supply: 'Full Steam Ahead'

Baker Hughes CEO sees no slowdown in energy projects as AI drives demand, while high prices encourage investment in new supply.