I tried to convince the street Parker was the hidden value in international oil driller, US growth in domestic oil production will grow for the next decade, continued rig production for BP on North Slope and the wall of 7.60 finally knocked on/down today. We are now in a historical cycle and could reach, by end of 2015, a range not seen in a 10 year cycle.
We upped our price target today to the historical level level of 8.6X with a LT sp by 2015 of 11.8X!
By end of 2014 we see Parker starting a dividend program now that the overall business has changed from family to shareholder driven.
Congrats to those who loaded up value below $4, to me its in a hold(core position) till 2015 and add on weakness and profit taken after surges in sp.