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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (48620)7/30/1999 8:45:00 AM
From: Gary Burton  Read Replies (1) of 95453
 
In the fwiw dep't, I put on my FA hat for a moment--I can do the math folks, just that I prefer TA!-- and looked at the Q1 cash flow statements of CRK,TMR,RRC and CHK. Fixed charge coverage was as follows ----RRC 1.81x...TMR 1.66x...CRK 1.61x...CHK 1.28x ('fixed charges= interest+ pfd div grossed up to pretax effect; coverage =pretax cash flow before dd&e and interest). If i am not mistaken, I think CHK is now trading at a PCF multiple on 2000 in the 2.5-2.7 area (??)whereas the others are RRC 1.85, CRK 1.94 and TMR 2.08--anyone know what the guesstimate of CHK's 2000 cfps is (using the same gas price assumed in say the RRC estimate) so one can hone in on how undervalued the other debt heavy ones are on a relative basis?
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