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Strategies & Market Trends : APMP (formerly APM)

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To: Rudy who wrote (11004)	5/4/1998 9:13:00 AM
From: marc chatman	Read Replies (1) of 13456

Re: Tier 1, a couple of things to consider. ESV: I think maybe the best managed stock in the sector and one of the top stocks in the S&P for long term shareholder return. Recently seeing insider buying. (Disclaimer -- I own this stock) PTEN: Recently missed earnings by about 5›. Blamed it in part on sooner than anticipated rig inspections. But they also indicated that a couple of rigs rolled over to new contracts this quarter at lower dayrates. I was thinking that earnings will need to be adjusted down. But the rising tide theory and higher oil prices could take this stock up regardless. RDC: Management recently said they are comfortable with estimates of around 2.50 in earnings this year. As you pointed out, stock is at 31 and change. Looks like a good value, but is in the jack-up rig market in which dayrates have been softening (same market as ESV). I own this as well and would have owned more but I set my limit too low on Friday. Let's see if it breaks resistance of about 32 today. Just heard that TDW announced earnings of $1.05 vs. Zacks est. of $1.03 (according to briefing.com). This could impact HMAR and TMAR as well. Thanks for your views, Rudy.

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