Fronline/Seadrill = Fredriksen.
Too bad for me I've only kept FRO (Frontline) on my watch list after somebody recommended it here at $24 and below. It's subsequently crept up to become a 50% gainer.
I've held Seadrill, which is in off-shore drill rigs. It's another business established/controlled by FRO chief, billionaire investor John Fredriksen.
The company's now moved to the NYSE and changed its symbol from SDLRF to SDRL. I've been in this stock since '07. I'm glad to see it come back from being decimated last year at about $5 to new high of $26 now.
finance.yahoo.com
Sorry I didn't add back then. Then as now though, accurate information about the company seems hard to come by.
Maybe now with it being on NYSE, I'll consider going for a few more shares. Here's a positive article just up at Marketwatch.
marketwatch.com
Couple points related to the article:
"Seadrill's 9% yield "may attract some current Diamond Offshore owners," Tudor Picking Holt said."
Diamond Offshore does have about an 8% yield last I looked. That's if one considers the large "extra" which has been paid out each year of the past several years. That Seadrill though has a 9% total dividend or distribution yield is completely incorrect from everything I read and from my checking back to the dividends I've received. It's more like a little over $1 per year (on the $26 stock).
"Seadrill moved to list its shares in the U.S. to boost liquidity of the stock and to "be on even par" with such competitors such as Transocean , Diamond Offshore and Noble Corp..."
I like this area of the deepwater business, and I've acquired shares in RIG, DO, and NE too. I would guess that Dr. Graham, if he liked any company in this current stock market, would at least consider NE. P/e is near 7, price/stated bv = 1.6, net debt is about zero (i.e. cash = ltd); company's not been unprofitable in any of the past ten years, roe's been over 20% last few years. Talking myself anyway into maybe considering buying more of it. |
