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

To: Theodore Stullich who wrote (4625)	12/8/1997 8:33:00 PM
From: Thean	Read Replies (4) \| Respond to of 95453

Theo, your wish is granted. The table is served up, sir. Co. 11/19 %dec fr 12/8 %dec fr 12/98 PE PE 52wk 52wk hi 52wk hi FY est. 11/19 12/8 hi === ===== ======= ===== ======= ======= ===== ==== ==== CDG 63 -23% 64.06 -22% 4.22 15.4 15.2 81.8 ESV 36.75 -22% 39.94 -15% 2.39 16.6 16.7 47.1 FLC 31.75 -26% 36.31 -15% 2.11 16 17.2 42.9 RIG 49.13 -19% 52.25 -14% 2.89 16.9 18.1 60.6 RB 36.88 -26% 42.88 -14% 2.48 14.9 17.3 49.8 DO 53.31 -21% 54.13 -20% 3.25 16.8 16.7 67.5 ATW 51.05 -17% 51.13 -17% 3.03(9/98)17.1 16.9 61.5 PDE 26.5 -30% 28.69 -24% 2.02 13.6 14.2 37.9 MDCO 24.5 -32% 25.75 -29% 1.72 14.2 15 36 RDC 36 -18% 37 -16% 2.55 14.6 14.5 43.9 NE 30.5 -20% 33.69 -12% 2.01 15.4 16.8 38.1 GLM 26.75 -27% 29.25 -20% 2.02 13.4 14.5 36.6 SDC 42.25 -26% 45 -21% 3.04 14.1 14.8 57.1 NBR 36.75 -21% 39.44 -15% 1.54(9/98)22.7 25.6 46.5 PTEN 38.5 -41% 46 -30% 1.99 20.5 23.1 65.3 PKD 13.63 -24% 14.69 -18% 0.64(8/98)22.7 22.9 17.9 GW 6.75 -32% 7 -29% 0.28 26 25 9.9 UTI 28.3 -42% 33.13 -32% 1.41 23.3 23.5 48.8 RON 60.88 -26% 70.38 -14% 3.43 18.7 20.5 82.3 EVI 51.75 -29% 54.94 -25% 3.08 17.3 17.8 72.9 KEG 26.63 -31% 26.69 -31% 1.22(6/98)22.4 21.9 38.6 BJS 78 -16% 80.75 -13% 3.79(9/98)21.7 21.3 92.9 VRC n/a n/a 28.44 -16% 1.97 n/a 14.4 34 TDW n/a n/a 62.69 -11% 4.97(3/99)n/a 12.6 70.5 SLB n/a n/a 87.5 -7% 3.31 n/a 26.4 94.4 HAL n/a n/a 57.25 -9% 2.2 n/a 26 63.3 FGII n/a n/a 36.5 -24% 1.01 n/a 36.1 48 GIFI n/a n/a 28.13 -29% 1.09 n/a 25.8 39.5 UFAB n/a n/a 19.88 -55% 1.31(3/99)n/a 15.2 43.9 MIND n/a n/a 21.88 -34% 1.56(1/99)n/a 14 33.1 SEI n/a n/a 39.13 -24% 2.76 n/a 14.2 51.8 === ===== ======= ===== ======= ======= ===== ==== ==== Co. 11/19 %dec fr 12/8 %dec fr 12/98 PE PE 52wk 52wk hi 52wk hi FY est. 11/19 12/8 hi === ===== ======= ===== ======= ======= ===== ==== ==== NOTES: 1. PE on 11/19 was calculated based on FY 12/98 estimates determined on 9/30 using S&P data. 2. PE on 12/8 was calculated based on FY 12/98 estimates determined on 10/30 using S&P data. 3. FY 12/98 column lists the estimates compiled on 10/30 and not 9/30. Overall the estimates had gone up about 0-10% over that one month. My take: ======= 1. The drillers have moved up since 11/19. Back then the average was -28% from the 52wk high. Now the group is -22% from the 52 wk top. Money can still be made. 2. Offshores drillers like FLC, ESV, NE, GLM, PDE, RON, SDC have moved up quite a bit since 11/19. 3. Land drillers like PTEN, UTI, NBR, PKD have also moved up nicely. PDS (not on the list) started early and moved up near its upper BB since 3 sessions ago. Exception is GW. 4. Deepwater drillers like DO, ATW did not move up much. RIG did slightly better as a percentage basis. They did not correct as fast as others back in 11/19. 5. Shallow water continued to correct a lot after 11/19 and now they just made up the lost ground. CDG, MDCO, RDC (not exclusively in shallow water) included in here. 6. On PE basis, offshore drillers and in particular the shallow water drillers continue to have the lowest PE's: CDG, MDCO, GLM, PDE, SDC (Middle East play with deepwater exposure). 7. UTI, PTEN and GW still have plenty of room for upside. Their 52 wk high's were also inflated due to over-optimism back then. 8. The fabricators (FGII, GIFI, UFAB) are valued all over. I still have no clue why UFAB is so so weak. Any explanation here? 9. MIND may have lots of room to move but its PE is similar to the bigger SEI. Mike Simmons - tell us why. 10. KEG and EVI also appear to have some leg left. 11. The big houses like SLB and HAL are valued at very high PE's versus their peers. Most likely because they are the big caps and treated like the INTC and MSFT of the Oil Services sector.