Cal Dive International, Inc. (DVR)

colonelnelson (95.73) Submitted: 6/29/08 6:51 PM : Start Price: $14.28 DVR Score: -18.73

Wall St. Superstar Capital One Southcoast foresees 25% gains for DVR and I think they are right.
DVR is a marine contractor that provides underwater services to offshore natural gas and oil firms. They perform manned diving, pipe lay and pipe burial and construct, inspect, maintain, repair and decommission offshore pipelines. They conduct business in the Gulf of Mexico, the Middle East, in S.E. Asia & in Australia.
The stock price seems to have suffered from a downturn in business in early 2008 because of unusually bad weather conditions in the Gulf of Mexico, which hurt their revenue.
However, you've got to be positive about DVR because:
1.) They have a backlog of $450M in business which will be performed during 2008, much of it acquired in 1Q 2008.
2.) They've recently been awarded a $125M natural gas pipeline installation job on the U.S. East coast.
3.) A recent acquisition has given them a larger fleet, and incoming contracts in the derrick barge business.
I'm predicting good things for DVR with the renewed interest and money in offshore drilling.

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