Clayton Williams Energy (CWEI) OIL Message Board

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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL

CWEI 131.90

0.0%

Apr 25 5:00 PM EST

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To: Steve Wagner who wrote (214)	12/21/1996 4:42:00 PM
From: Buzz Mills	of 1017

Steve, I congratulate you on your timely buys of CWEI and welcome you to this thread. Based on your mention of Worth magazine's article I did a search on the web and came up with it. Even though it is somewhat outdated thought I would post it here as it is still applicable as CWEI continues to surge: >>>>>Worth Magazine 08/96--What They're Buying Now Eight acclaimed mutual-fund managers tell Worth readers about their current favorite stocks. Assume that the manager has bought the stock for his fund at a price lower than the one mentioned here -- the maximum at which he considers it attractive. The manager also may have sold the stock after May 24, the publishing deadline. The approaches of these managers are meant to illustrate a broad range of successful investing styles. Before readers buy any stock, Worth strongly recommends they conduct their own due diligence. WILLIAM J. NASGOVITZ HEARTLAND VALUE FUND Buys stocks of domestic small-cap companies believed to be undervalued. CLAYTON WILLIAMS ENERGY up to $8 Nasdaq: CWEI Clayton Williams (Midland, Texas) is a leader in horizontal drilling for oil and gas. After two difficult years, the company has restructured, and the founder has taken back the reins. The first quarter of 1996 was profitable (versus a loss a year ago), and I estimate earnings will be 40 cents a share this year. The stock sells at only 1.7 times 1996 estimated cash flow of $4 a share and slightly less than its replacement value (the value of the reserves in the ground) of $8 a share. A great kicker: The company owns a lot of acreage in a hot new field in East Texas called the Cotton Valley Pinnacle Reef Play, where a competitor has made a substantial discovery.<<<<<< Since the article was published CWEI has soared to 17 1/4 and the new estimates for earnings are now $1.65 for this year and the most recent price target is $24 by Rodman, Renshaw. The latest estimates are as follows: Clayton Williams Energy (CWEI) New Estimates 4thQEPS/CFPS 1996EPS/CFPS 1997EPS/CFPS 1998EPS/CFPS Rodman, Renshaw 0.58/1.34 1.56/4.90 1.13/5.25 2.05/6.35 Paine Webber 0.56/1.31 1.70/4.86 1.29/4.15 Hanifen, Imhoff Morgan Keegan Zacks(Unknown) 1.53/ ? --------------------------------------------------------------------------- Average 0.57/1.32 1.60/4.88 1.21/4.70 2.05/6.35

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