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Thoughts on RIG?
Posted on 2/1/15 at 6:26 pm
Posted on 2/1/15 at 6:26 pm
Is it time to load up?
Posted on 2/1/15 at 7:23 pm to Hoyt
They say to be greedy when everyone is fearful and that it is darkest just before sunrise, but man it's a tough outlook for drillers right now.
They will need a ~50% increase in oil prices before drilling budgets get expanded.
They will need a ~50% increase in oil prices before drilling budgets get expanded.
Posted on 2/1/15 at 7:24 pm to TheHiddenFlask
Kind of what I was thinking... Just looking for confirmation... Blood in the streets so to speak and I'm tempted
Posted on 2/1/15 at 7:49 pm to Hoyt
They are about to get a new CEO who will likely be very successful over the next 5-10 years. Very respected man in the industry.
Posted on 2/1/15 at 7:49 pm to Hoyt
Stacking rigs like nobody's business in my neck of the woods..North Texas, along the Red River...our son's rig is still operating but fear its days are numbered...drilling in Oklahoma
Posted on 2/1/15 at 8:00 pm to Hoyt
Carl Icahn is a big shareholder.
It may go down further, but when oil gets back to 60 to 80 RIG will thrive
It may go down further, but when oil gets back to 60 to 80 RIG will thrive
Posted on 2/1/15 at 8:59 pm to Hoyt
Will oil prices go up in the next 12 months? I think yes.
Posted on 2/1/15 at 9:10 pm to makersmark1
Budgets for 2015 are already set. $60 oil wont be changing those budgets.
Posted on 2/1/15 at 9:45 pm to TheHiddenFlask
quote:
TheHiddenFlask
You are correct; however, when oil prices begin rising look for investors to jump on the wagon thus raising the price of stock. I think RIG sees a surge by summer, though it will be overvalued once it happens.
Posted on 2/1/15 at 10:16 pm to TheHiddenFlask
How much have they budgeted for ongoing litigation? That might be a concern.
For what it's worth, the CEO bought 9800 shares on December 1st. Also a positive institutional ownership trend in the current quarter; 34.7M shares purchased vs. 21.1M sold. Icahn has 5.75% of outstanding shares. This is not investment advice, etc.
For what it's worth, the CEO bought 9800 shares on December 1st. Also a positive institutional ownership trend in the current quarter; 34.7M shares purchased vs. 21.1M sold. Icahn has 5.75% of outstanding shares. This is not investment advice, etc.
This post was edited on 2/1/15 at 10:27 pm
Posted on 2/2/15 at 10:49 am to Hoyt
RIG has been a poorly managed company for some time, they were and still are one of the most top heavy drilling contractors around. If they are able to cut the support staff fat and a new CEO is even barely competent they may survive. If not.. JMHO
Posted on 2/2/15 at 11:30 am to cave canem
Who is RIG
This post was edited on 2/2/15 at 11:39 am
Posted on 2/2/15 at 11:49 am to Hoyt
Another thing you may want to keep in mind is that all the majors, the majority of their clients, are cutting way back over the next 3-5 years. I havent looked to see if they have outlined what they planning on cutting back on but it is something to keep in mind.
Posted on 2/2/15 at 12:26 pm to Double Oh
quote:
Who is RIG
Really? Typing three letters into google was too much?
Transocean
This post was edited on 2/2/15 at 12:28 pm
Posted on 2/2/15 at 3:03 pm to Hoyt
If you believe the drillers are oversold, buy the best in class. In this case, I believe it to be SDRL, not RIG. SDRL cut their dividend and will instead pay down debt and buy back stock, great long term moves while the stock price is depressed and debt will be coming due at less favorable refinance rates. Also, they have the best fleet of the big drillers so they will have the best shot to win work once deep water drilling eventually picks back up.
Posted on 2/3/15 at 12:21 pm to Crbello4Hiceman
RIG up nicely today... glad I ended up buying some at $16.40
Posted on 2/4/15 at 4:25 pm to Hoyt
Best of luck- I think of the long term, it is cheap but in the short term, they will probably take a hit if they have to cut their dividend or if oil doesn't recover. My opinion is that since SDRL already cut the dividend and has a better fleet, they have positioned themselves to ride this out better. I think they are both poised for success over the long. I just think SDRL has a little less downside.
Posted on 2/4/15 at 4:59 pm to Hoyt
I'm buying XES, an ETF of oilfield service companies...won't have the pop RIG could, but I'm more interested in making the industry play than 1 company.
XES and RIG are pretty closely correlated, less downside, less upside though. XES vs RIG
anyone else in this?
XES and RIG are pretty closely correlated, less downside, less upside though. XES vs RIG
anyone else in this?
This post was edited on 2/5/15 at 4:59 am
Posted on 2/4/15 at 6:22 pm to Ole War Skule
I have been eyeing XES since this whole oil debacle happened. I will start to buy XES soon, among others, but most likely the only oil services type stock that I will buy.
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