Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (83205)	1/2/2001 10:37:10 AM
From: Big Dog	Respond to of 95453

From Frost this morning: We are raising our 2001 estimate on Noble Drilling Corp. (NYSE: NE; STRONG BUY; Price: $43-7/16; 12-Month Target: $70) from $2.20 to $2.25 per share to reflect continued upward pressure on dayrates. We are initiating a new 2002 earnings estimate of $3.10 per share and a new cash flow estimate of $4.06 per share for 2002. We reiterate our STRONG BUY rating and are raising our 12-month target price from $66 to $70 per share based on 22.5x 2002 estimates. Noble has an excellent management team and we highly recommend the stock for investors' energy portfolios. We are initiating a new 2002 earnings estimate for Pride International, Inc. (NYSE: PDE; STRONG BUY; Price: $24-5/8; 12-Month Target: $54) of $2.40 per share and anew cash flow estimate of $4.42 per share. Our 2000 and 2001 estimates remain unchanged. Due to the recent pullback in the sector and current stock price level, we reiterate our STRONG BUY rating on Pride International, Inc. and recommend the stock for aggressive investors. We are raising our 12-month target price from $47 to $54 per share based on 22.5x 2002 estimated earnings. We would use the current weakness in the stock as a buying opportunity. We are initiating new 2002 estimates for Helmerich & Payne (NYSE: HP; STRONG BUY; Price: $43-7/8; 12-Month Target: $56). Our 2002 earnings estimate is $2.50 per share with a 2002 cash flow estimate of $5.00 per share. Our 2001 estimates remain unchanged. We are raising our 12-month price target from $47 to $56 per share based on a weighted-average multiple of 22x 2002 estimated earnings. The multiple is derived from the historical average applied to each business sector. We rate Helmerich & Payne a STRONG BUY and recommend the stock at present levels for significant appreciation over the next two years as the upswing in the energy cycle gains momentum. We are initiating new 2002 estimates for Global Marine, Inc. (NYSE: GLM; STRONG BUY; Price: $28-3/8; 12-Month Target: $48). Our 2002 earnings estimate is $2.15 per share and our cash flow estimate is $3.38 per share. Our 2000 and 2001 estimates remain unchanged. We reiterate our STRONG BUY rating based on improving market conditions and have a 12-month target price of $48 per share based on 22.5x 2002 earnings estimates. Halliburton Co.'s (NYSE: HAL; STRONG BUY; Price: $36-1/4; 12-Month Target: $64) Landmark Graphics subsidiary announced a definitive agreement to acquire PGS Data Management (PGSDM), a division of Petroleum Geo-Services (NYSE: PGO; OSE: PGS; Not Rated; Price: $13-5/16), for $179 million cash. PGSDM is considered an industry leader for internet enabled storage, browsing and retrieval of large volumes of quality controlled, secured exploration and production reservoir and other related data. PGSDM will be managed under Landmark Graphics, which will establish a contract to provide ongoing data management and data distribution services to Petroleum Geo-Services. This announcement is consistent with our expectation for Halliburton to strengthen its Landmark Graphics' division, given that it is among Halliburton's most profitable business units.

To: SliderOnTheBlack who wrote (83205)	1/2/2001 11:03:25 AM
From: excardog	Read Replies (3) \| Respond to of 95453

SOTB Have enjoyed your contrarian posts of late but I take exception with your oil outlook. First off I agree and I am sure most all agree that $10 mcf gas is not here to stay. $5 for the next year on average seems fairly safe at this point. So lets stick with $5 gas. Where we diverge in our opinions is oil, I'm seeing oil rising back to the $30 and above range in the next few months. Therefore I have positioned my portfolio more heavily weighted to the oil side. Gas sales for many of the oil producers are a gift. Most are unhedged gas so this brief IMO dip in oil prices will be more than offset by the recent climb in gas prices. The oil names although considered big winners this past year "media wise" really have not had any where near the run of the gas names. So as everyone loads up on the Natural gas side, I'm trying to play the oils early. It appears OPEC will announce a cut, which should already be priced into the market when it comes. I will be paying attention to the next few weeks API's. They will be SPR less. I will leave you to your gold as I don't have an opinion on the yellow stuff but wish you luck with it. Sign me a "Beaver" believer Regards Scott