T. Boone Pickens Made Out Like A Bandit Buying Oil Stocks After The Spill – The Business Insider
Posted on
December 15, 2010 by
bp complaints
 The Business Insider |
T. Boone Pickens Made Out Like A Bandit Buying Oil Stocks After The Spill
The Business Insider He clearly took advantage of the Gulf oil spill. This legendary oilman added BP PLC (BP), Schlumberger Ltd (SLB), Noble Corporation (NE), and QEP Res Inc … |
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TB Pickens was right about NE for sure. We will be buying NE beginning today and all the next three weeks to the end of the year. Still a great buy NE even today. Strangely undervalued NE, and traders and reporters are beginning to see this odd gift as of late. NE is in the process of moving and using its fleet outside the Gulf for very profitable use elsewhere South America, and all over the world. Transocean’s (RIG) price share had previously skyrocketed to $72, while it was not NE’s rig involved in the spill, rather it was Transocean’s rig. So NE has a lot of catching up to do in Stock pricing, say 25% percent or so just to catch up to messy RIG. Again, Transocean is the company that owned the BP RIG that blew up in the Gulf of Mexico, and is involved in thousands of lawsuits. NE on the other hand was not at all involved in the Gulf mess, and has substantially more assets outside the Gulf (about 83% of its rig placements are outside the Gulf).
In Motley Fool by a very smart reporter wrote a few days ago as follows, putting the spotlight on NE: “the stock NE could easily recover much or all of this year’s loss by the end of 2011 and rise at least 90% through 2016. That’s because drilling has resumed in the Gulf and Noble has a contract backlog worth up to $10 billion, so earnings should dramatically improve. Indeed, analysts project the company’s five-year growth rate will approach 14% annually. Importantly, Noble has an especially well-maintained rig fleet, high customer satisfaction ratings and an excellent safety record. After a disaster like the Gulf oil spill, its strong reputation will mean a lot.”
NE will prove a very good investment by February 2011. $44 analyst predicted share price estimate is modest. We predict closer to $48 or $50 as early as Spring 2011 certainly since oil is expected to remain at around $80. Actually good quick money on NE, a great gift of a company this Christmas. Stockaccumulator USA