NEW YORK (TheStreet) -- For the past eight months, anyone investing in offshore drilling giant Transocean (RIG_) has drowned in losses. The stock has fallen more than 30% since shares hit a high of $55.74 in November.
Shares, at around $39, are down more than 21% on the year to date, trailing the energy sector's 14% gain. Transocean reports second-quarter earnings Wednesday.
But don't worry. Given Transocean's status as the world's largest offshore driller and its dominant position in the ultra-deepwater float industry, now is the time to buy. The market has gotten this story wrong.
What is the forward pe and earning potential. Difficult to judge the company without much info. It is possible that it is the best kept secret in WS right now. But would like to learn more.
A well coordinated short attack for sure. They couldn't have chosen a better day for it.
Never mind. I found the following info in the earnings report:
Oaktree Capital Group, LLC has declared a distribution attributable to the second quarter of 2014 of $0.55 per Class A unit. This distribution will be paid on August 14, 2014 to Class A unitholders of record at the close of business on August 11, 2014.
Is this a disappointment? I guess the numbers go up and down based on the actual distributable income from quarter to quarter.
For a bad market day, CTLT IPO didn't do badly. Also Hilton reported good earnings. Bodes well for BX I guess.
This is creating good entry points for new investors. Unfortunately I already have enough shares with a slightly higher average. Crapola for sure. But then that is what Mr. Market is made of unfortunately.
It seems to me that this stock is really all about dividends. Once it goes ex-dividend, it deflates like A balloon at least in the short run. Besides it is also a high beta stock -- 1.89 according to Yahoo. Just my 2 cents.
Well, nobody can predict the day-to-day movements. What one can do though is to take a position based on conviction backed by data. For BX we have enough data points to have that conviction.
Any investor worth his salt understands that this is a cyclical stock and needs patience to wait it out during down-phases. Question is what is your time frame and if the 7% dividend is sweet enough for you. People who are being smart#$%$ should stop to thinkand ask themselves "if I am that smart why I am I not rich and why am I hanging around these boards?"
BX has an attractive business model. If these IPOs pay off big, we will keep seeing increasing stock price and juicy dividends.
Thanks to you both for clearing up my record date confusion.
It seems to me that the selloff today was more to do with the general market.
My understanding is that you have to hold the stock till the record date, that is 28th to get the dividend. In that case people shouldn't be selling it today. Please correct me if I am wrong.