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Gold/Mining/Energy : Trico Marine Services (TMAR)
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To: Mark who wrote (32)2/19/1998 5:04:00 PM
From: Don Westermeyer  Read Replies (1) of 1153
 
I guess the big worry is that oil prices remain low long enough that they quit building rigs and with more boats that would screw over rates big time. TMAR does get (I think) 70% of its revenue from long term contracts (20 months) so there is some cushion there. They have additional capacity coming on line also over the next year so that helps, too.

Short term I'm afraid I don't really see any big upside to the stock price due to oil worries and general fear of the sector. But if you can look out to the time when oil start to rise again this is a very attractive stock. If the volatility bothers you (and when a stock nose-dives like this it should bother you!), sell a few out of the money covered calls. I plan on writing a few calls myself when the bombs start dropping and oil prices spike up for the day. One may have to wait until next year to get some relief from low oil prices, though you can bet OPEC is getting worried about them now, too.


And - Hey, what company doesn't have to worry about competition?
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