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CE Franklin Ltd. (CFK) Message Board

  • BigMC1 BigMC1 Aug 5, 1998 10:30 PM Flag

    What is this company doing?!

    I don't know about everyone else but I'm in this
    for a 10 dollar loss so far! Shame on me, I know, but
    the numbers were looking good up until the last
    quarter. I know it was already being discounted before
    last quarter results but the IBD earnings rating was
    holding steady above a 90 - which is great. I bought this
    dog when Investors Business Daily wrote a whole
    article on how promising the prospects were for CFK -
    however, it has done nothing but sank to a new low! It's
    embarrasing to say I've held on so long. Now I hear that
    they've formed a seperate entity to handle a lot of their
    business....is this the beginning of a migration from CE
    Franklin to the new company (whose name escapes me) and
    then a belly up of CFK?
    This thing is a DOG! And I
    don't beleive the management gives a crap about us
    shareholders. They are doiong nothing to hold up share value,
    they are not even trying to expand out of the Canada
    area.
    I hope I'm wrong but it don't look good from here!

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Anyone know how this new consolidation will affect
      cfk, seems positive and the upside is so far greater than the down. Lots of volume today,
      comments plz.

    • Someone knows something. Of course someone had to sell them also so maybe THEY know something.

    • the problem is that natural gas/crude prices are
      going to be in the toilet for atleast for 1 1/2 years.
      but I agree CFK is a diamond in the rough and I would
      love to buy 25,000 shares at a buck and ride it to
      15!

      Roll Tide!

    • yes, cfk is definitely a survivor - controlled by
      probably the savviest oil patch investors in existenc, scf
      partners in houston. these guys will consolidate the
      distribution part of the oil patch. cfk known to be actively
      looking for acquisitions yet with discipline. stocks
      pretty washed out, seems you have to buy it when you
      can, impossible to buy when everyone wants it.

    • A stock buyback would be nice!!

    • You may find this site interesting, you can sign up for free stock information.

      http://www.insiderwire.com/entry/?referrer=3655

    • Be carefull! Mother Russia needs hard currency
      and they are selling oil/natural gas at any cost!
      Keep in mind that they have more reserves then our
      Arab friends (or close enough for government work). I
      like the company but I think it could go as low as $1
      per share. Finally, don't forget about tax loss
      selling in late October and in November.

      Roll
      Tide!

    • I will wish I had bought some more in a few months at these prices

    • I also bought at 10 & like a dumbie....bought
      more at 7.
      IBD's report influenced me as well.
      Don't think I'll renew my subscription in Sept. This
      wasn't the only one that had a great writeup & dumped.
      I'm very disappointed. good luck

      • 1 Reply to tdyaa
      • You guys both seem to have bought CFK w/o doing
        any work on the company (except read a biased article
        in IBD). The fact is that CFK is dirt cheap now, but
        because it's an oil services (really distribution of oil
        services products) company, it's going to move with
        oil/gas prices and the oil services industry (the whole
        group has gotten killed). The core driver for CFK's
        business is the amount of drilling/development activity
        (which is a direct function of oil/gas
        prices).

        CFK is the leader (#1 market share) in distribution
        of oil services products in Canada (a promising
        market, given the amount of pipeline construction being
        done in Canada -- this ought to spark drilling
        activity in Canada, assuming prices improve from current
        levels).

        The company is controlled by Simmons & Company -- a
        well known Texas-based investment firm that
        specializes in the energy industry (I think it's headed by
        Harold Simmons). He's been in CFK for a number of years
        now (and he's probably still making money here at
        $4), and my bet is that he'll look to exit his
        investment in CFK at some point in the next couple years
        (assuming the market rebounds). That's just because
        leveraged buyout firms have a set investment horizon over
        which they must return money to their own
        investors.

        I think the most natural buyer for CFK is National
        Oilwell (CFK's U.S. based competitor). Buying CFK would
        give Natl. Oilwell a leading market position throught
        the U.S. & Canada.

        So, while there are never
        any guarantees (except that IBD is a worthless
        newspaper), I think the investment opportunity at CFK is
        compelling -- you have an interested shareholder in Simmons
        who will look to create value for himself (and other
        shareholders in the process). One just needs the patience to
        see oil/gas prices improve.

 

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