You can see it on their website. The only thing reported was for the Noble Driller
Oct and Nov extension at slightly lower day rates
Does he still own those shares. I see where he is after Apple's Tim Cook to improve the share price. I sure wish he could do something with RIG to improve the share price
I agree. It makes no sense. It was posted by one of Cramer's guys, I believe. I only care about the dividend and what mgmt will commit to for next year's revenue and eps. I'm hoping to hear something during the next quarterly CC. I will also try to listen to conf. calls from SDRL, RIG and NE to try and get a feel of what their mgmt teams are predicting for next year. We have to be getting close to a bottom for all these companies...I hope. We will see $100 WTI sometime within the next 12 months, but right now this is brutal
Here's an alysis by a SA author. I hope that he is correct:
Ensco Plc: A Thorough Analysis
Oct. 8, 2014 5:41 PM ET | 19 comments | About: Ensco plc (ESV)
Disclosure: The author is long ESV. (More...)
While S&P has remained essentially flat in the last 3 months, the offshore drillers have experienced a fierce bear market, losing about 1/3 of their value.
This article provides a deep analysis of the impact of reduced day rates on the earnings of Ensco.
The reduced rates will have a limited effect on the revenue from floaters and a negligible effect on jackups. Ensco derives 40% of its revenue from jackups.
While the S&P (NYSEARCA:SPY) has remained essentially flat in the last 3 months, the offshore drillers have experienced a fierce bear market, losing about 1/3 of their value. The reason for the extreme underperformance is the current oversupply of drilling platforms, which has caused the day rates paid to these companies to drop substantially. Having noticed that, the analysts have massively downgraded the offshore drillers in the last 3 months, with FBR claiming that the high dividends of these stocks are at risk of being cut.
As this sector is highly cyclical, it is important to evaluate the current conditions to determine whether a great bargain exists. Cyclical stocks are usually oversold to the extreme near the bottom so one can greatly profit from such conditions. In this article, we will evaluate the impact of reduced day rates on Ensco plc (NYSE:ESV) and will determine whether its current stock price represents a bargain.
From the comparison of the fleet status report of July to the report of September, a remarkable outcome is that Ensco has hardly felt any effect of reduced rates on its jackups. To be sure, more than half of the jackups have already been booked for more than a year so these ones are not at risk of incurring reduced rates until at least 2016. However, the most surprising feature of the report is that even the other jackups,
I saw it . I believe that the video was taken last year and wonder what he has done with his ESV holdings now. The negative comments were made by one of Cramer's thugs. Funny because Cramer came out with a buy last month on ESV and now has done a complete about face after the price has dropped. Cramer seems to change his mind very quickly and I question if he has a thorough analysis of the company
How safe do you view NE and ESV dividends?
I'm looking to add to my positions in these 2 and Vale as well. Both I/O miners and deep water drillers are paying huge dividends, unless they get cut. Both I/O and crude will both see price increases.
This sounds good for iron and steel consumption for next year.
Do you have any thoughts on the deep water oil drillers? They have all been crushed and I'm considering increasing my holdings in NE and ESV
I am reading the same thing. I am holding and will try to listen to the quarterly conference call for ESV,NE,SDRL,RIG, etc.
It looks like people are trashing this sector in the belief that earnings are going to have a sharp drop.
In the meantime, this stock has dropped from about $50 to $37 in
What are the projected earnings for 2015 and 2016?
How much will dividends have to be cut...if at all?
This price decline for the entire sector is very troublesome
I believe that the Saudis need oil around $100 to support their huge social program that helps keep the monarchs in power. I see this wholesale price drop in the oil drillers as a great opportunity to buy at cheap prices and am starting to purchase SDRL
I also have a big holding and I need the dividends to keep coming. I saw their recent slide show presentation in the Investor Relations section of their website. I just get concerned with a 20%+ price haircut in 1 month and only hope that is related to low oil prices
I never thought that I would consider this, but I'm getting concerned that the $1.50 dividend might be in jeopardy.