From 4/23/2007 Issue of Barrons
1. Oil Drillers should pay dividends vs buying back stock - low P/E due to cylical nature of business
- Transocean (RIG)
- GlobalSantaFe (GSF)
- Diamond Offshore (DO) - paid $4 special dividend 1/2007. partially owned by Loews
- Noble (NE)
- Ensco (ESV)
- Seadrill (SDRLF.pk) - norway; high P/E looking to acquire (NE or GSF likely targets per Geoff Kieburtz)
2. Chomping its way to profit
- JOYG vs BUCY (Bucyrus Int'l)
- beaten up due to coal price drop
- 40% revenue comes from surface mining
- 60% revenue comes from subsurface mining (coal?)
- also, after market service contracts
- coal producers have rebounded this year
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