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.

Strategies & Market Trends : Drillbits & Bottlerockets -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (8278)	4/18/2001 7:50:15 PM
From: John Pitera	Respond to of 15481

BR earns 1.56 for the Q. earnigns quadruple from year earlier Quarter. This stock could earn 6 bucks this year, put a PE of 12 on it and it's a 72 dollar stock. Natural Gas prices could well be going higher this summer. biz.yahoo.com Burlington Resources earnings more than quadruple HOUSTON, April 18 (Reuters) - U.S. natural gas producer Burlington Resources Inc. (NYSE:BR - news) said on Wednesday its first-quarter earnings more than quadrupled as it reaped the benefits of sharply higher prices for its main product. ADVERTISEMENT The Houston-based company said net income jumped to $336 million, or $1.56 a share, from $77 million, or 35 cents a share, in the same period of 2000. First-quarter revenues rose 61 percent to $1.14 billion. Reported earnings per share were at the high end of Wall Street analysts' expectations of 77 cents to $1.56, according to Thomson Financial/First Call. The mean estimate was $1.38. Burlington Resources' stock closed $1.01 lower at $48.23 on Wednesday, before the company released its earnings report. Most U.S. energy stocks posted losses on Wednesday despite a surprise half percentage point cut in interest rates which triggered strong gains for the broader market. So far this year Burlington Resources' stock is down about 4.5 percent, compared with a loss of 6.2 percent in the year to date for Standard & Poor's oil and gas exploration and production index (^SPOILP - news). The company said its first-quarter natural gas sales fell about five percent to 2.01 billion cubic feet per day compared with the same period of 2000, but were about 5 percent higher than in the fourth quarter of last year. Average prices received by the company for its natural gas roughly doubled to $5.32 per thousand cubic feet, compared with year-earlier levels.