Are they kill? Stock is below 2$ again. Institutional ownership only 35% so who is holding the bag here? Retail?

Are they kill? Stock is below 2$ again. Institutional ownership only 35% so who is holding the bag here? Retail?

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Book value for share is $19, meaning they have a crap load of assets. Heck 2 dollars and 80 cents of that is cash.

So right now the stock is worth less than the cash the company has!

What does this mean? Would I invest? No, they are too risky for me. That said no they aren't going under and have time to recover. A junk bond might be the best buy in this situation. Guaranteed recovery on bankruptcy.

book value is massively overstated though, dont know by how much but at current oil price rigs arent worth their book value, far from it.

Book value is book value. Don't confuse it with market value. That is not important unless they are liquidating.

are u daft.

book value can easely change.

or you think "write downs" never happen? Server equipment from the 1970s is still worth the same BV as when it was bought?

Dumb

As someone who owns around 500 shares that i bought at $6.91 each, I would say they are fucked. They are on the verge of bankruptcy at this point.

They have something like $10 billion in debt and are losing hundreds of millions of dollars every year. Offshore drillers need oil to be at least around $60 a barrel just to break even, and the operational costs per rig are something like $200k every day.

Really the only hope for this stock is if OPEC agrees to cut output and Hillary gets elected and shuts down fracking in the US.

offshore drilling won't be viable for 50-100 years from now. Look at what fracking in North America has done to the oil market in only 15 years. And the rest of the world hasn't even started fracking!

I honestly don't understand your point. Are you implying that because an asset can be written down that book value per share is a worthless metric?

>offshore drilling won't be viable
Not every offshore drill is losing money. Many are still making bank even in a low oil price environment.

>owns around 500 shares
Why did you buy it anyway? Big oil being beat down was a much safer option plus a good dividend.

Ïn some cases like this it is.

Every single day I think "this is the bottom". Fuck me in the face with all 1000 of these worthless shares.

>Why did you buy it anyway?

I was looking for low priced oil stocks that I thought would rise on an oil recovery. I also own shares of EMES and RIG. I made a nice profit with EMES, but RIG is in the same boat as SDRL.

>Big oil being beat down was a much safer option plus a good dividend.

If i could go back in time and know what I know now, i would have probably bought shares in BP

>I was looking for low priced oil stocks that I thought would rise on an oil recovery.

I did the same back in February of 2015. I looked at Seadrill and BP. In the end I decided on Exxon or Chevron, then Exxon because I trusted they would keep the dividend.

It was still a bad investment. Only made 7.2% in a year and 4 months.

I'm in this too. 400 shares @ avg 3.61.

I have faith. These guys are creative and hustlers with a bunch of relatively new equipment.
So from my perspective this is a very long equity burn time, where the banks will be willing to work with them.
From what I see they keep snagging contracts and the customers are happy with their service but maybe not always their price.

I'm making money back selling puts on the shares recovering or leveraging in for discounts.

I should see a return on my cost basis in 18, 45 day cycles with no uptick.

Its an experiment with high alpha acquisitions and averaging + leveraging down. So my min holding time is 9 quarters. At that point I should own my shares for near 0.

>I have faith. These guys are creative and hustlers with a bunch of relatively new equipment.

None of that means anything if they can't turn a profit. They are operating at a massive loss and will continue to lose money unless something significant happens.

Their earnings are positive. Though I didn't read enough to know if they are because of revenue or asset sales. I do know Exxon paid them a lot of money to get out of a contract.

Thats great to hear guys, im short with approx 16k shares.

what's your stop?

10% trailing.

Of all the stocks to short. You pick one that is already low priced and has upside to oil and good news. Plus extreme volatility. That is madness.

Short netflix ahead of earnings. Don't short seadrill!

>the fucking timing of this thread

L M A O
M
A
O

It is still a bad investment. All the safe oil stocks are up also. Besides no one really trusts the muslims to actually carry out what they say.

Sold my 1k shares a few min ago @2.43. Will buy back in under 2.15

>no one really trusts the muslims
finance.yahoo.com/news/oil-prices-climb-opec-deal-005854761.html

In as well for 556 shares avg price of $5.97.

>so who is holding the bag here?
us plebs

Whats everyone's excuse for not selling March 4th?

r u gonna vote 4 hillary