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Puts Purchased on Patterson-UTI Energy, Inc. (PTEN)
Wednesday, October 13, 2010 - 11:04am | 133Shares of Patterson-UTI Energy, Inc. (NASDAQ: PTEN) are higher on the session by 1.29%, currently trading at $18.01. The stock has been moving largely higher over the past six months, off from a recent low near $11.85. Options traders are buying protection on the name today. A short while ago the...
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Options Update: JA Solar Lolatility Low as Shares Trend Higher into Solar Power Convention
Wednesday, October 13, 2010 - 9:07am | 99JA Solar (Nasdaq: JASO) is participating at Solar Power International, the largest B2B solar event in North America, which began Tuesday. JASO overall option implied volatility of 63 is below its 26-week average of 68 according to Track Data, suggesting decreasing price movement. Noble Corp (NYSE...
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This Oil Driller Is on Steroids
Tuesday, October 12, 2010 - 3:20pm | 144If you're looking for a trend-defying, against-the-grain stock pick to kick off your week, you've come to the right place. As I scan the various industries in the energy and infrastructure sectors, there's one that has about as much appeal as pouring lemon juice into an open wound. The oil drilling...
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Chasing Value: Toxic Stock Update -- (BAC, BP, C, GE, GS, RIG)
Monday, October 11, 2010 - 10:22am | 176A very common refrain among value investors, "my pal Warren" being head of the class, is buy on fear (sell on greed), and it is working with the toxic stock portfolio. This is the second update to my ranting twelve weeks ago that the six most highly traded stocks receiving the most bad press would...
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Dahlman Rose Report Shows Rally In Oil Services Shares
Monday, October 11, 2010 - 10:20am | 221September international rig count growth and supportive macroeconomic factors continue to support the rally in oil services shares. Oil prices continued to trend higher, as the commodity moved from $76/bbl to over $82/bbl in the last two weeks. Factors like the dollar's ~2.6% depreciation in the...
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Calls Purchased on Nabors Industries (NBR)
Thursday, October 7, 2010 - 3:25pm | 136Shares of Nabors Industries Ltd. (NYSE: NBR) are lower on the session by 2.09%, currently trading at $17.83. The stock has been moving largely lower over the past six months, following the 200-day moving average, which is down-sloping. Options traders seem to believe that shares could break above...
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Patterson-UTI Rig Count Grows - Analyst Blog
Thursday, October 7, 2010 - 4:39am | 378Onshore contract driller Patterson-UTI Energy Inc. (PTEN) declared its September 2010 drill rig count to average at 184, up from 180 in the previous month. The company operated 175 rigs in the U.S. and 9 in Canada in September, compared with 171 rigs in the U.S. and 9 rigs in Canada during August...
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Wednesday's Put/Call Ratio Leaders (CX, VRSN, WM, LRCX, HERO)
Wednesday, October 6, 2010 - 12:27pm | 133Here is a quick peek at stocks that have abnormally high daily put/call ratios today relative to their average…. 1. Cemex SaB (NYSE: CX) 7,550 puts, 179 calls 2. VeriSign Inc. (NASDAQ: VRSN) 10,569 puts, 354 calls 3. Waste Management (NYSE: WM) 3,529 puts, 128 calls 4. Lam Research Corp. (NASDAQ:...
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Oppenheimer Initiates Coverage Of Nabors Industries
Wednesday, October 6, 2010 - 10:28am | 120Oppenheimer is initiating coverage on Nabors Industries (NYSE: NBR) with a Perform rating. Nabors is the world's largest onshore driller with North American and International operations. It like Nabors' premium rig fleet, but thinks that its relatively higher exposure to natural gas drilling...
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Oppenheimer Initiates Coverage of Patterson-UTI Energy
Wednesday, October 6, 2010 - 10:21am | 125Oppenheimer is initiating coverage of the land drillers, including Patterson-UTI (NASDAQ: PTEN) with a Perform rating. Patterson is one of the largest land drillers in the U.S. and it generates 78% of its revenue from contract drilling. The company and stock should benefit from increasing...
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Goldman Bullish on Nabors Ahead of Key Catalysts (NBR)
Wednesday, October 6, 2010 - 10:04am | 114Goldman Sachs is out with a research report this morning, where it suggests buying calls of Nabors Industries Ltd. (NYSE: NBR) ahead of several key catalysts. The analyst believes that four key drivers could move the stock higher: 1. Increasing demand for newbuild rigs 2. Superior Well Services...
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Oppenheimer Initiates Coverage On PTEN, NBR, CPX, KEG
Wednesday, October 6, 2010 - 9:30am | 63Oppenheimer has initiated coverage on the following companies: Patterson-UTI (NASDAQ: PTEN) Perform Nabors (NYSE: NBR) Perform Complete Production Services (NYSE: CPX) Outperform, $29 price target Key Energy (NYSE: KEG) Outperform, $13 price target
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Goldman Reiterates Sell On ATW
Wednesday, October 6, 2010 - 7:45am | 202Goldman Sachs believes that Atwood Oceanics (NYSE: ATW) is embarking on a high-risk/high-reward strategy, and rates the company at Sell. In the report, Goldman Sachs writes "ATW announced this morning that it ordered two uncontracted jackups for $190 mm (each) scheduled for delivery in late 2012....
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Oppenheimer Initiates Coverage On Nabors (NBR)
Tuesday, October 5, 2010 - 5:10pm | 203Oppenheimer & Co. is initiating coverage on Nabors Industries Ltd. (NYSE: NBR) with a Perform rating. It does not have a price target ons hares. In the research report, Oppenheimer notes, "Nabors is the world's largest onshore driller with North American and International operations. We like...
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Atwood Oceanics Announces Construction of Two Drilling Units
Tuesday, October 5, 2010 - 8:34am | 138ATWOOD OCEANICS, INC. (NYSE: ATW), announced today that on October 1, 2010, Atwood Oceanics Pacific Limited, executed turnkey construction agreements with PPL Shipyard PTE LTD to construct two Pacific Class 400 jack-up drilling units. These new rigs will have a rated water depth of 400 feet,...