|Bid||15.01 x 200|
|Ask||20.95 x 200|
|Day's Range||18.65 - 19.41|
|52 Week Range||10.06 - 20.41|
|PE Ratio (TTM)||148.15|
|Earnings Date||Apr 30, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||14.25|
Of the 32 analysts covering Ensco (ESV), 44% recommend a “buy” or equivalent for the stock. Among the top offshore drilling stocks (IYE), Ensco and Transocean (RIG) have the most “buy” recommendations. About 41% of analysts are recommending a “hold” for Ensco.
In this part, we’ll discuss analysts’ recommendations and target price revisions for offshore drilling (IYE) stocks in week 15 (week ending April 13, 2018).
In week 15, the week ending April 13, 2018, all of the offshore drilling stocks rose. Transocean was the best performer among its peers, while Seadrill Partners rose the least in week 15.
Mid-caps stocks, like Diamond Offshore Drilling Inc (NYSE:DO) with a market capitalization of US$2.68B, aren’t the focus of most investors who prefer to direct their investments towards either large-cap orRead More...
HOUSTON, April 17, 2018 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (DO) today announced the launch of its Sim-Stack service, the offshore drilling industry's first cybernetic BOP service enabling Diamond Offshore to continuously and accurately assess BOP status. When issues arise, the Sim-Stack service immediately determines a proper course of action while providing a third party Statement of Fact to the operator, BSEE and other regulatory bodies. Acting as the "virtual twin" of a BOP system on a drilling vessel, Sim-Stack replicates the BOP hydraulically and electrically to assess its overall health and regulatory compliance.
In the previous week, Rowan Companies (RDC) announced that its rig, Rowan Viking, secured a five-well contract with Shell UK (RDS.A) for work in the North Sea. The North Sea is one of the most vibrant segments in the offshore drilling (IYE) market. Rowan Viking is an N-class ultra-harsh environment jack-up rig. The contract is expected to commence in June 2018. The contract will continue for ~100 days. The company hasn’t disclosed the day rate for the new contract. Currently, Rowan Viking is working in Norway at a day rate of $219,000. Backlog
In week 14, the week ending April 6, 2018, Rowan Companies was the best performer among offshore drilling stocks. The company secured a new contract. As a result, Rowan Companies’ stock price increased last week.
HOUSTON , April 11, 2018 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE: DO) announced today that it will issue a press release and host a conference call and webcast related to its first quarter ...
NEW YORK , April 11, 2018 /PRNewswire/ -- Loews Corporation (NYSE: L) will report first quarter 2018 financial results on Monday, April 30, 2018. A conference call for analysts and investors will begin ...
The US offshore rig count was 12 in the week ending March 29, 2018. The rig count dropped by one from the previous week. The rig count is still down by ten rigs year-over-year. The rig count is a key demand indicator for the offshore drilling industry. For Rowan Companies (RDC), 22% of its total revenue comes from the US Gulf of Mexico.
In February 2018, one drilling permit was issued in the Gulf of Mexico. No drilling permits were issued in January. For the first two months of 2018, one shallow-water drilling permit was issued—compared to three permits issued in the same period in 2017.
Previously in this series, we discussed offshore drilling (OIH) companies’ 4Q17 EBITDA (earnings before interest, tax, depreciation, and amortization). In this part, we’ll discuss their free cash flow profiles. The “free cash flow” is operating cash flows minus capital expenditure.