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Pritchard Equity Research Has Buy Rating On Hercules Offshore (HERO)
Tuesday, August 3, 2010 - 3:07pm | 98Pritchard Equity Research is reiterating its Buy rating, but is lowering its price target to $4.50 from $6 on shares of driller Hercules Offshore (NASDAQ: HERO). In the report Pritchard Equity Research writes, "With peers intending to remove jackups from the GOM and PEMEX's anticipated tender...
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Dahlman Rose & Co. Reiterates Buy Rating on Rowan Companies (RDC)
Tuesday, August 3, 2010 - 2:24pm | 159Dahlman Rose & Co. is out with a research report this afternoon, where it reiterates its Buy rating on Rowan Companies (NYSE: RDC); it has a $33.00 price target on the stock. The Dahlman analysts cited the company’s recent earnings report, which beat estimates, due primarily to higher drilling...
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Rowan Beats Zacks Estimates - Analyst Blog
Tuesday, August 3, 2010 - 1:48pm | 436Rowan Companies Inc. (RDC) recorded second-quarter 2010 earnings of 79 cents per share, well above the Zacks Consensus Estimate of 68 cents, on the back of solid contract drilling operations. However, the quarter’s earnings were lower than the year-ago earnings of 85 cents. Revenues in the quarter...
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Pritchard Equity Research Reiterates Buy On Rowan (RDC)
Tuesday, August 3, 2010 - 9:50am | 93Pritchard Equity Research is reiterating its Buy rating and $27 price target on shares of Rowan Companies, Inc. (NYSE: RDC) after the oil driller beat earnings estimates yesterday. In the report Pritchard states, "RDC reported $0.79 vs. our $0.66 and consensus $0.67. The beat was driven by better...
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Loews Beats on Bottom Line - Analyst Blog
Monday, August 2, 2010 - 4:13pm | 737Loews Corporation (L) reported its second-quarter 2010 net income of 87 cents per share, beating the Zacks Consensus Estimate of 82 cents. Results compare favorably with 78 cents per share in the prior-year quarter. Net income was $366 million compared with $340 million in second quarter 2009....
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Housing: Still Flooded - Analyst Blog
Monday, August 2, 2010 - 12:36pm | 2305One of the central reasons for the recession -- and for the anemic recovery from it so far -- has been the issue of the popping housing bubble. Housing is, for most homeowners, a highly leveraged investment. Even the old conservative rule of a 20% down payment is a far more leveraged position than...
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Helmerich & Payne Outperforms - Analyst Blog
Monday, August 2, 2010 - 12:13pm | 540Contract drilling services provider, Helmerich & Payne Inc. (HP) reported solid results for the third fiscal quarter of 2010 (three months ending June 30, 2010), helped by improving U.S. land drilling operations. Earnings per share, excluding an impairment charge on assets seized in...
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Dahlman Rose Out With An Update On Offshore Drilling
Monday, August 2, 2010 - 9:01am | 129Dahlman Rose & Co. is out with an industry report this morning on offshore drilling. In the report, Dahlman Rose covers Pride (NYSE: PDE), Transocean (NYSE: RIG), Rowan (NYSE: RDC), and Atwood (NYSE: ATW). Dahlman has price targets of $33 on Rowan and $42 on Atwood. In the report, Dahlman Rose...
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Pride Meets Zacks Consensus - Analyst Blog
Friday, July 30, 2010 - 4:45pm | 554Pride International Inc. (PDE) reported second-quarter 2010 earnings of 32 cents per share, in line with the Zacks Consensus Estimate, but well behind the year-ago earnings of 76 cents. The company earned revenues of $350.3 million during the second quarter of 2010, down from $439.5 million in...
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PDE Offers Less Than Enthusiastic Outlook For Floater Market
Friday, July 30, 2010 - 1:39pm | 234Analysts at Pritchard Capital Partners reiterate their "buy" rating on Pride International Inc (NYSE: PDE), while reducing their estimates for the company. The target price for PDE is set to $32. Pritchard Capital Partners mentions, “PDE also guided down Q3 results, of which we calculate 8c to be...
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Rates for HP’s FlexRigs Command Impressive Premiums
Friday, July 30, 2010 - 1:34pm | 233Analysts at Pritchard Capital Partners reiterate their "neutral" rating on Helmerich & Payne (NYSE: HP), while raising their estimates for the company. The target price for HP is set to $44. Pritchard Capital Partners says, “HP reported an in line quarter, but announced contracts for nine...
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Earnings Peer Pressure 07-29-2010
Thursday, July 29, 2010 - 7:00pm | 809Cusick’s Corner With no leadership, XLF & SMH down, plus the Euro currency stuck in the mud, the market had really no catalyst to help any upside advance into the After Hours. Commodities, DBA (ETF w/ Corn, Soybeans, Wheat, and Sugar) continue to move to the upside, and while this could be...
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Dahlman Rose & Co. Mantains Hold Rating On Pride International (PDE)
Thursday, July 29, 2010 - 5:46pm | 120Omar M. Nokta, Head of research in Dahlman Rose & Co., reiterated a hold rating on Pride International, Inc. (NYSE: PDE) after the earnings report. Dahlman Rose & Co. believes that PDE's net asset value is approximately $29, which means that it trades at 80% of its actual equity value. Mr...
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Dahlman Rose Reiterates Hold Rating on Nabors Industries (NBR)
Wednesday, July 28, 2010 - 5:26pm | 185Dahlman Rose & Co. is out with a research report this afternoon, where it reiterates its Hold rating on Nabors Industries Inc. (NYSE: NBR); it did not provide a price target on the stock. The Dahlman analysts cited the company’s most recent earnings report, which were mixed relative to the...
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Noble Corporation Closes Acquisition of Frontier Drilling
Wednesday, July 28, 2010 - 4:33pm | 153Noble Corporation (NYSE: NE) today announced that it has closed its acquisition of FDR Holdings Limited. The acquisition of Frontier, formerly an independent drilling company, and previously announced agreements with Shell increase Noble's drilling fleet size to 69 from 62 units, with the addition...