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Major Jumps in These Offshore Oil Companies



July 14, 2011 – Comments (0) | RELATED TICKERS: GIFI , HLX , HERO.DL

Looking for the oil stocks that are on the up and up? There are a number of offshore oil companies who have hit their lows and are now working their way up with high percentage increases. If these are the kind of stocks you are looking for, Michael Filloon has you covered. He has found some great offshore oil companies making jumps after their 52 week lows. 


 "Hercules Offshore (HERO) is up 150% from its 52 week low. Twenty analysts estimate Hercules’ growth will decline 21.7%, but expect growth of 16.1% next year. Hercules has beat earnings for four straight quarters. It specializes in shallow water services. Hercules has 50 jackups and 65 liftboats. It is the largest jackup provider in the Gulf of Mexico and fourth largest in the world. It is the largest liftboat provider in the world and does business on three continents. Hercules purchased Seahawk Drillings assets earlier this year. This move increased Hercules leverage to the Gulf of Mexico.

 Gulf Island Fabrication (GIFI) is up 125% from its 52 week low. It trades for 14 times forward earnings. The seven analysts covering this stock estimate a decline in growth of -1.1% this year and growth of 161.8% next year. It has missed earnings terribly the last two quarters. It trades for 14 times next year’s earnings. some of these estimates may not matter as it is one of just three large United States fabricators. The last recession slowed the deep water rig build out, but there are no arguments that the world will have to utilize deep water drilling to meet long term energy needs.

Helix Energy Solutions (HLX) is up 99% from its 52 week lows. It sells for 14 times next years earnings. Eight analysts estimate this year’s growth to be 80.9% and 40% next year. Helix has beat earnings handily three out of the last four quarters. The Macondo disaster has created a difficult environment for business in the Gulf of Mexico. Helix reports this situation is slowly improving." 


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