The declared dividend was higher than expected at $0.95 vs. UBSe of $0.91 and
consensus of $0.92 (the upper end of consensus was $0.94), and up from $0.91/share
at 1Q13. Annualized, this implies a yield of 8.5%. According to Seadrill, the increased
dividend reflects the company’s "strong operational results, positive market outlook,
solid order backlog and strong support received from the financing markets," and is
sustainable long-term with scope for further growth. Against this, there was some
more caution in the outlook statement. Seadrill said the fundamental outlook remains
firm but it is seeing budgets re-examined and a "pause in upstream spending," leading
to a slowing in contract awards. Seadrill indicated this may lead to "some challenges"
in 2014 although it believes this will mainly hit operators with lower spec assets. It also
believes the current pause is "momentary." The target for 2016 EBITDA of $4.5bn was
CenturyLink added to Select List at Stifel
Stifel added CenturyLink to its Select List as the firm thinks the company reported solid operating results, while its 6.4% dividend yield and 15% free cash flow yield make it compelling for income-oriented investors. The firm has a $40 price target and Buy rating on the shares.
This is bull...... The main wording is "I don't think" well someone thinks it will go through and maybe someboady thinks the world will stop on Wednesday. REALLY "I don't think"
Please read Seekings article this morning and see why the ask is already over $27 on it's way up. Don't believe that post from yesterday saying LINN is finished. Also, the SEC if LINN was so out of line would have made a public comment when they released their recs.