No, on their website you can see where every rig is, none near venezuala and as far as I can remember there haven't been anytime in the recent past.
It's a normal thing that companies with decent profits and manageable cash flow pay dividends, I dont see what the big deal is? They are also buying back stock which is another prudent move that should eventually pay off.
I'll take the money now, and ride the wave up later. No reason we cant have both. Now if and when profits crash I have no doubts the div will be cut, but there is no real reason to think that will happen.
How does saving money now mean NE will "rule" the drilling space later? Surely you aren't saying they should build more ships?
So all that means is they admit their last "expert" prediction was wrong, and now we're supposed to believe this one?
Scrap em, are you nuts? They're gonna make a ton of money, tens of millions this qtr, and a 100 million + next year, even with these bad conditions.
Some of you guys think the only thing that matters is the price of the stock, it's not.
They got a lot of nerve, downgrading a stock AFTER it's gone from 35 to 18, if they had an once of integrity and were worth a plug nickle, they would have done it earlier.
Noble needs to start planning for the future, perhaps start planning some newbuilds for when the cycle turns, if they lack the cash they can just borrow it at todays low rates. A div hike post buyback seems in order as well.
Up again today, the market certainly seems to be embracing NE's recent mgmt decisions. Think about it, up 3 days in a row, and there is no possibility that this is related in any way shape or form to the overall market or sector going up. Hwan explained that when NE was going down it was only mgmts fault, so obviously the reverse is true!
Well, when is the bad news gonna hit? cause with the stock getting slammed the last few months you would think they're going out of business, revenues way down, profits non-existant. How can this company be headed for another couple hundred million profit this qtr if things are as bad as the analyst's say?
I dont agree hwan, the price has soared two days in a row, obviously this has nothing to do with the market or even sector, but is a total embrace of nobles mgmt savy. The spinoff, the div, the newbuilds, all these things are the reason for these healthy gains...right?
Obviously this rally is due to large investors embracing the fine NE mgmt decisions that have been made recently, including remaining steadfast on the dividend.
What's he been right on? I dont think one thing, did he predict the price of oil - no, did he predict the price of NE - no, all he does is whine and act like NE exists alone and separate from the broader industry. He constantly will say dumb things about NE stock price and imply what's happening has everything to do with nobles mgmt, and nothing to do with the price of oil.
He was whining when the stock was 40+, saying that the stock would be $60 if they would only listen to him.
The problem with hwan is he's obviously crazy, and no one will listen to a crazy person(even if they're right).
Hey that's why we're here, the exchange of information, best of luck in your investing!
By the way, NE is expanding into the marcellous shale play in the northeast, not too exciting right now with these low prices but when they recover it could be quite lucrative.