Comparing Noble (NE) to high yield is great insight, with NE currently carrying a 6% dividend, along with a board approved stock buyback program. Thanks Tommy.
Thanks, Peter. Not everyone cares about income but the dividend yield (and repurchases) should provide valuation support. Noble's acquisition of Diamond seems underappreciated b/c of the synergies and Diamond's "Black" drillships are high-end with recent upgrades. I think all of these offshore drillers will have growing rewards programs in the future but some are ahead of others due to various reasons.
It seems like the market is giving investors a gift acquiring Noble and the other drillers VAL RIG etc. at current prices with the recent offshore sector sell off. Noble especially seems more attractive with the accrediting diamond merger. Maybe the market is yawning at Noble for the Diamond acquisition from the price of oil recently falling? Since the other driller stocks aren’t doing hot either
Hard to find a security with this yield and upside
Think a Transocean-Seadrill merger could yield a reward program or will transocean be solely deleveraging a bit longer?
Comparing Noble (NE) to high yield is great insight, with NE currently carrying a 6% dividend, along with a board approved stock buyback program. Thanks Tommy.
Thanks, Peter. Not everyone cares about income but the dividend yield (and repurchases) should provide valuation support. Noble's acquisition of Diamond seems underappreciated b/c of the synergies and Diamond's "Black" drillships are high-end with recent upgrades. I think all of these offshore drillers will have growing rewards programs in the future but some are ahead of others due to various reasons.
It seems like the market is giving investors a gift acquiring Noble and the other drillers VAL RIG etc. at current prices with the recent offshore sector sell off. Noble especially seems more attractive with the accrediting diamond merger. Maybe the market is yawning at Noble for the Diamond acquisition from the price of oil recently falling? Since the other driller stocks aren’t doing hot either
Hard to find a security with this yield and upside
Think a Transocean-Seadrill merger could yield a reward program or will transocean be solely deleveraging a bit longer?
Any more M&A coming? Cheap assets all over the place and unlevered balance sheets ex-RIG?