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HistoricalPEGuy (65.10)

Holy Noble



March 30, 2008 – Comments (2) | RELATED TICKERS: NE , NOV , BOOM

I've spent some time doing my homework tonight, looking at some stocks that are beaten down but have good growth stories - and I just keep coming back to the Oil Patch.  One exception - OMPI - they are a "biotech" - but not really.  They are in the business of skin care, none-the-less, that stock is exciting.

But I digress.  NOV, BOOM and CBI are on my radar screen, but I just can't convince myself to pull the trigger on these guys - so I compare them to Noble (NE).  They don't hold a candle to this wonderful stock.

Noble has all but gotten out of the Gulf of Mexico where pricing and competition keeps pricing low.  Noble is now focused almost exclusively on international markets where pricing is hot.  The order of the day is Brazil.  This is exciting, because Brazil sees its neighbors making a killing off of oil.  Brazil is investing heavily into oil procurement - and its my personal opinion that this trend will continue.  The price of oil is out of this world, so its easy to justify the rig costs.  Noble is a crazy buy right now and has been for well over a year.

I would seriously consider NE, but do your own research.  Sabrient, S&P, Rochdale, and Reuters all give it their highest rating.  Not that pundits are right - but when this many of them are on the bandwagon, it makes you think.

I am a very happy owner of NE.

-- HPEGuy

2 Comments – Post Your Own

#1) On March 31, 2008 at 11:24 AM, drdrab (< 20) wrote:

Well HPEGuy, excellent timing. Only hours after you post this and NE announces a potential $4B contract in Brazil. I knew some talking was happenning with the Petrobras folks but this is still quite a surprise.

Eventually the market will figure this out and we will both be much happier NE owners


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#2) On March 31, 2008 at 1:09 PM, ctojeira (42.39) wrote:

Hmmm... I dumped 25% of my NE position a few weeks ago since I was overweight the stock and had a pretty nice return looking at me.


Now you're making me rethink that move.  The good news is I could buy back at a lower price today if I wanted to.


Decisions... decisions... we should talk about this some more.  You'll be hearing from me on this one.

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