Trinidad Drilling Ltd (TDG.TO) Buy, Sell or…

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Trinidad Drilling Ltd (TDG.TO)

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1.68

+0.01 (0.30%)

as of Jun 29, 2019, 11:27:09 am Market Open.

51 watching

COMMENT

Driller. Recently announced positive results. There are others in the service sector that he likes better. Well managed. Drilling is pretty flat right now.

BUY ON WEAKNESS

Going to survive. All the drillers are going through rough times. This one has the most up-to-date, modern fleet. Will be up and running on the next up cycle. 2.8% yield. Try to buy at $6.50 or closer to $6.

DON'T BUY

Drillers have done reasonably well lately, which is surprising because all the fundamentals of natural gas are pretty poor for drillers. This one has a complex suite in that it can go deeper as well as to directional drilling. Has a reasonably high level of debt.

PAST TOP PICK

(A Top Pick Sept 26/08. Down 28.59%.)

DON'T BUY

This one needs an increase in the number of drilling rigs so oil companies have to start spending more money. Until there is some recovery in natural gas prices he doesn't think this will take place. Well managed company.

BUY

Just did a new issue because their balance sheet was pretty offside. They have moved a lot of their rigs down to Texas and they have the kind that shale drilling requires. Their contracts look good.

BUY

(Market Call Minute) Cycle for oil stocks has turned.

DON'T BUY

Utilization of the drilling industry is down to very low levels. Stock will languish until there is a recovery in gas prices. Will be a survivor.

HOLD

Drilling component of the energy sector has under performed everything else. There will still be 2 quarters of really horrible earnings, cash flows, etc. Too late to sell any of these stocks but there is no rush.

DON'T BUY

All the drilling companies have been pounded down. There have been huge Cap X cuts. Until there is some pickup in the price of oil/gas they are looking at some pretty thin days. This company has a fair amount of debt.

HOLD

18% dividend is telling you that it will probably be cut. Already baked into the price of the stock. Big cutbacks in CapX in the oil patch, which means a lot less drilling. Have a lot of newer rigs. Getting some good contracts in the US because of their deep drilling. Good future.

DON'T BUY

If you want to play a driller, he would prefer Precision Drilling (PD.UN-T), which is trading at about a 50% haircut to its replacement value for its rigs. 13% dividend, which may be iffy.

BUY

(Market Call Minute.) Good stock and could yield.

TOP PICK

Drilling and servicing companies have taken a beating but are having a very good year so far. This one has moved half of its rigs into the US. More than half of their revenue will be coming from the US. New fleet of drilling rigs. 6% yield.

COMMENT

Major driller in Western Canada. Made a series of acquisitions in the US so have become more international. Converted from a trust into a corporate structure allowing them to be more aggressive in acquisitions in the US.

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