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OIH, Oil Service - A Long Term Low near $14?


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OIH could soon retest the LOWS

OIH ... 12-months/ Last: $13.55 - 0.87, 6.03%

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XOP / xx ... 12-months / Last:

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Found this suggestion on the web...

"Overview/Strategy
XOP (Oil and Gas Exploration) - this ETF is once again setup for a Short (via Puts). Let's buy the Sep 28 Puts ( filled at 2.88). "

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  • 2 months later...

S maybe a great Buy, if it retraces back to $30.

SLB / Schlumberger Ltd. ... update : $31.76

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HAL might hit $17

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  • 1 month later...
On 10/3/2019 at 8:06 PM, hector said:

Nobody talking about lower energy demand due to global slowdown?

Also I would never class a buy during a downtrend as a great buy. Seems like any bounce is short lived.

So far, I have been trading the bounces.

Taking profits, when I see them, rather than holding for the long term

I have profits, thank goodness, and some real experience trading these stocks

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McDermott is very beat up now, very cheap. And MAY have capacity to recover

MDR ... 5yr : 1yr ... Last: $1.49 - 0.15

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: 1yr :

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==

McDermott Reports Third Quarter 2019 Results

2019-11-04 16:15 ET - News Release

Backlog remains strong at $20.1 billion, and revenue opportunity pipeline remains robust at $89.1 billion

Capital Structure and Liquidity

As announced on October 21, 2019, we have obtained a $1.7 billion financing agreement from certain of our first-lien lenders, of which $650 million has been accessed. 

We elected to enter into the 30-day grace period with respect to a November 1, 2019 interest payment on our 10.625% senior notes due in 2024 in order to continue collaborative discussions with our lenders and noteholders to find a long-term balance sheet solution.

Third Quarter 2019 Operating Performance

Our adjusted operating loss in the third quarter of 2019 was $125 million.  The solid performance of our MENA, APAC, EARC and Technology segments was more than offset by the $256 million of changes in project gross profit on specified projects identified in a covenant of our new Superpriority Credit Agreement. 

Our operating loss of $1.7 billion was primarily due to the $1.5 billion goodwill and intangible assets impairments in addition to the $256 million of changes in project gross profit on specified projects. The goodwill impairment of $1.4 billion primarily resulted from updates to the 2019 management budget and increases in discount rate assumptions driven by increases in our cost of capital and risk premium assumptions associated with forecasted cash flows. The intangible assets impairment of $0.1 billion primarily resulted from a reduction in the estimated remaining useful life of the trade names associated with our NCSA segment, causing a decrease in future attributable cash flow expectations.

> https://www.stockwatch.com/News/Item.aspx?bid=U-prDA24034-U%3aMDR-20191104&symbol=MDR&region=U

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