Jeff,
Yes and No on your question: "Are the numbers in the Investors Business Daily yet." The IBD did publish the earnings but did not show CWEI in the Best Ups listing--CWEI should have been at the top. Also, although the IBD now shows a PE of 8, and that sales were up 70%, the IBD failed to show that earnings were up 71%. The IBD update is not complete yet; the IBD also shows next years estimate as $1.00--which is lower than it should be. The IBD's EPS rating of CWEI has increased from 32 to 42--I thought it would increase more--I need to check their calculations.
I spoke with a broker at Rodman, Renshaw this morning and he is recommending that investors accumulate oil stocks, or at least hold on to them because he feels that they are undervalued--specifically CWEI. I see some selling of CWEI this morning--a few investors lost their patience; it is very frustrating and I can understand their action.
Paul Ferretti, the Energy Analyst for Rodman, Renshaw, left to go elsewhere. I was surprised to find out, that when an analyst leaves a firm, he takes his coverage of the stocks, he is following, with him, and in the meantime Rodman, Renshaw, doesn't have anyone covering CWEI--or any of the rest of the stocks that Paul was providing coverage for--and nothing gets forwarded to Zacks on any of those companies. I have been told that Paul will initiate coverage of CWEI with his new firm--but he has to do it on a stock-by-stock basis--one at a time, writing new reports on each one--so it is probably going to take at least a month, or two, before we see his Strong Buy recommendation again. In the meantime, Rodman, Renshaw, is looking to hire a new energy analyst.
Buzz |
