Posts for Ticker ‘WFT’

Soros Fund Holdings

Yesterday Soros Fund Management Filed a 13-F outlining the fund’s long portfolio as of September 30th, 2009.  The total value of the holdings reported in the filing is $6,198,089.  Twenty holdings represented roughly 50% of the value.  Soros Fund Management is a hedge fund management company that invests primarily based on macroeconomic analysis.  It should be noted that the fund’s equity portfolio likely contains significant short positions, which are not reported in 13-F filings.  Some of the positions in the filing may be in place as hedges or part of a multi-part trade, rather than a directional bet.  With that in mind, a glance at this firm’s major holdings provides clues to its macroeconomic outlook.  

Total stakes in Petroleo Brasileo Brasileiro (NYSE: PBR) represent 9.23% of the value of the positions reported in the filing, with just over 13 million shares held.  This is down from by 2.3 million from the fund’s last filing. Read More »

Posted on: November 17, 2009 – 10:52 am in Uncategorized, , , , , , , , , , , , , , , , , , , , ,

T. Boone Pickens & BP Updated Stock Holdings (ANR, APC, COG, CHK, CNX, DVN, FLR, FWLT, HAL, MEE, OXY, STR, SLB, SU, RIG, WFT)

Pickens PicThis morning we got to see the new equity holdings of T. Boone Pickens, via his BP Capital Management, L.P.,  as of March 31, 2009.  Some of the higher stakes look to be in Chesapeake Energy Corporation (NYSE: CHK), Devon Energy Corporation (NYSE: DVN), Suncor Energy Inc. (NYSE: SU), and Transocean Ltd. (NYSE: RIG).  Here is the full list of holdings for Pickens’ BP Capital with the implied value as of the reporting dat of March 31:

Posted on: May 15, 2009 – 11:37 am in Activist Investor, Insider Activity, Mutual Funds, Oil & Gas, , , , , , , , , , , , , , , ,

Trouble Continues in Oilfield Services (SII, HAL, WFT, SLB)

oil-well-image11Well drilling and completion services just aren’t paying off for anyone this reporting season. Smith International Inc. (NYSE:SII) reported diluted EPS of $0.44 on revenues $2.41 billion. After deleting a restructuring charge of $34.8 million, EPS reaches $0.52. First quarter 2008 EPS was $0.87 on $2.37 billion in revenue.

Like its brethren oilfield services providers Halliburton Company (NYSE:HAL), Weatherford International Ltd. (NYSE:WFT), and Schlumberger Ltd. (NYSE:SLB), lowered targets didn’t rescue Smith.

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Posted on: April 27, 2009 – 8:38 am in Earnings, Oil & Gas, , , ,

Schlumberger Sort of Beats Low Expectations (SLB, HAL, WFT)

oil-well-image8The world’s largest oilfield services company, Schlumberger Ltd. (NYSE:SLB), reported earnings this morning. The resemblance to the earnings reports from Halliburton Company (NYSE:HAL) and Weatherford International Limited (NYSE: WFT) from earlier this week is almost spooky.

Analysts had lowered estimates for both revenue and profit, and Schlumberger almost delivered. EPS for the first quarter was $0.78 against estimates of $0.73. Revenue totaled $6.0 billion ($5.44 billion in the services business and the rest from seismic services), which is slightly worse than estimates of $6.04 billion.
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Posted on: April 24, 2009 – 7:43 am in Earnings, Oil & Gas, , ,

Precision Drilling Wins With Grey Wolf Addition (PDS, BJS, HAL, WFT)

oil-well-image4Precision Drilling Trust (NYSE:PDS) reported net first quarter 2009 earnings per common unit of about $0.26, off 62% from the same period a year ago. Revenues grew almost 31%, from $277 million to $362 million. (Amounts converted from Canadian dollars at US$1=CDN$1.23832.) Analysts had been expecting earnings per unit of $0.36.
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Posted on: April 22, 2009 – 8:54 am in Earnings, Oil & Gas, , , ,

Another Oilfield Services Firm Falters (BJS, HAL, WFT, SLB)

burning-money-pic16This is turning into a lousy week for oilfield services company. Today’s really downbeat earnings report from BJ Services Co. (NYSE:BJS) follows on yesterday’s weak reports from Halliburton Co. (NYSE:HAL) and Weatherford International Ltd. (NYSE:WFT).
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Posted on: April 21, 2009 – 8:48 am in Earnings, Oil & Gas, , , ,

Halliburton, Weatherford Stumble (HAL, WFT, SLB, OIH)

oil-well-image1Two of the largest oilfield services companies reported first quarter earnings today. Halliburton Company (NYSE:HAL) and Weatherford International Ltd. (NYSE:WFT) both came in close to analysts’ estimates, but that doesn’t look like it will satisfy investors. Schlumberger Ltd. (NYSE:SLB) reports earnings on Friday, and until then it will likely get tarred with the same brush as Halliburton and Weatherford.  To show how these are being received, the Oil Services HOLDRs (NYSE: OIH) are down over 3% in pre-market trading indications.
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Posted on: April 20, 2009 – 7:52 am in Earnings, Oil & Gas, , , ,

Good News in Oil Field Services Continues (NOV, HAL, WFT, SLB)

Oil_well_imageNational Oilwell Varco Inc. (NYSE:NOV) reported a solid beat of analysts’ estimates for the fourth quarter. After last week’s surprising earnings from Halliburton Co. (NYSE:HAL) and Weatherford International Limited (NYSE:WFT), National Oil Well Varco’s results were not entirely unexpected.

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Posted on: February 4, 2009 – 9:11 am in Earnings, Oil & Gas, , , ,

Smith International Sinks on (SII, SLB, HAL, BHI, WFT)

Smith International, Inc. (NYSE:SII) led the parade of oil field services stocks downhill yesterday. Smith opened Thursday more than $1.50/share lower than Wednesday’s close and finished the day even lower. Schlumberger Limited (NYSE:SLB), Baker Hughes Inc. (NYSE:BHI), Halliburton Company (NYSE:HAL), and Weatherford International Ltd. (NYSE:WFT) all followed suit.

Smith reported soft fourth quarter and full year results yesterday. Non-GAAP EPS amounted to $1.00 on income from continuing operations of $218.6 million and revenue of $3.06 billion. Analysts were expecting EPS of $1.02 on revenue of $3.04 billion.

The company’s CFO noted that Smith has "one of the best cash flow downturn profiles in our industry. Over the coming quarters, we would expect to generate significant free cash flow as the business contracts…." She didn’t explain what that means, exactly, but one could interpret it to mean that as economic conditions worsen, Smith will perform better. Sure, we’ll buy that.

Paul AusickAngrybear

Posted on: January 30, 2009 – 12:43 pm in Alternative Energy, , , , ,

Top Pre-Market Analyst Upgrades (BBY, CB, DVA, DFT, FCX, FMS, MWE, MCHP, WFT)

Money_stack_picThese are some of the top per-market analyst upgrades and positive calls we are seeing from Wall Street this Thursday morning:

  • Best Buy (BBY) Raised to Overweight at Barclays.
  • Chubb (CB) Raised to Buy at Bank of America-Merrill Lynch.
  • DaVita (DVA) Started as Outperform at RBC.
  • Dupont Fabros Tech (DFT) Raised to Buy at UBS.
  • Freeport McMorRan (FCX) Raised to Hold at Canccord.
  • Fresenius Medical (FMS) Started as Outperform at RBC.
  • MarkWest Energy (MWE) Raised to Outperform at Morgan Keegan.
  • Microchip Tech (MCHP) Raised to Overweight at Barclays.
  • Weatherford (WFT) Raised to Overweight at JPMorgan.

Jon C. Ogg
January 29, 2009

Posted on: January 29, 2009 – 7:48 am in Analyst Calls, , , , , , , , ,

Baker Hughes Good Quarter, Bad Forecast (BHI, HAL, WFT, SLB)

Money_stack_pic_4That Baker Hughes Inc. (NYSE:BHI) this morning reported better-than-expected results for its fourth quarter shouldn’t really be a surprise. When Halliburton Company (NYSE:HAL) and Weatherford International Limited (NYSE:WFT) reported results, the market got its good-news surprise package for the week.

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Posted on: January 28, 2009 – 9:12 am in Earnings, Labor & Unions, Oil & Gas, , , ,

Top Pre-Market Analyst Upgrades (BIDU, BBY, CLX, DO, DD, MCHP, SOHU, WFT, STJ, SUNH)

Money_stack_picThese are some of the top pre-market analyst upgrades and positive research calls we are seeing from Wall Street this Wednesday morning:

  • Baidu.com (BIDU) Started as Outperform at Bernstein.
  • Best Buy (BBY) Raised to Overweight at Barclays.
  • Clorox (CLX) Raised to Hold at Citigroup.
  • Diamond Offshore (DO) Raised to Buy at Goldman Sachs.
  • DuPont (DD) Started as Outperform at Credit Suisse.
  • Microchip Tech (MCHP) Raised to Overweight at Barclays.
  • Sohu.com (SOHU) Started as Outperform at Bernstein.
  • Weatherford (WFT) Raised to Overweight at JPMorgan.
  • St. Jude Medical (STJ) Raised to Outperform at William Blair.
  • Sun Healthcare (SUNH) Raised to Buy at Citigroup; Started as Outperform at RBC.

Jon C. Ogg
January 28, 2009

Posted on: January 28, 2009 – 8:34 am in Analyst Calls, , , , , , , , , ,

Good News Where Least Expected (HAL, WFT, SLB)

The earnings reports from oil field services companies Halliburton Company (NYSE:HAL) and Weatherford International Inc. (NYSE:WFT) surprised investors on the upside this morning. Given the bad news out of Schlumberger Limited (NYSE:SLB) last week, these reports were really unexpected.

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Posted on: January 26, 2009 – 12:22 pm in Earnings, Oil & Gas, , ,

Bad News at Schlumberger, Yet Shares Rise (SLB, WFT, HAL)

Schlumberger Limited (NYSE:SLB) reported a clear miss on quarterly and annual revenue and EPS estimates, but shares rose more than 6%. On top of that, the company expects 2009 to be weak, with drops in North American drilling, and lower "production enhancement" in Russia and "mature offshore basins." The company also expects prices to erode.

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Posted on: January 23, 2009 – 12:11 pm in Earnings, Oil & Gas, , ,

Weatherford: Raising Money the Old-Fashioned Way (WFT, SLB, HAL, BJS, BHI)

Oil field services company Weatherford International Ltd. (NYSE:WFT) announced that it has begun offering Senior Notes due in 2019. A subsidiary of Weatherford "will fully and unconditionally guarantee the notes on a senior unsecured basis." The company plans to use the proceeds, as yet unspecified, to repay its short-term debt.

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Posted on: January 6, 2009 – 9:07 am in Bonds, Oil & Gas, Secondary Offering, , , , ,

The 52-Week Low Club (CHK)(WFT)(RIG)(MSCC)(ISIL)

Sad_clownChesapeake Energy (CHK) National gas supply levels fall. Drops to $11.54 from 52-week high of $74.

Weatherford International (WFT) Oil prices hurting drilling equipment firms. Plunges to $8.32 from 52-week high of $49.98.

Transocean (RIG) Another drilling service firm. Sells down to $46.06 from 52-week high of $163.

Microsemi Corporation (MSCC) Did CEO lie about his degree. Dips to $11.27 from 52-week $28.50.

Intersil (ISIL) Cuts outlook. Moves off to $7.53 from $29.84.

Douglas A. McIntyre

Posted on: December 4, 2008 – 3:59 pm in HI/LOW, , , , ,

The 52-Week Low Club 10/2/2008 (GGP)(MOS)(POT)(WFT)(STLD)(AAPL)(EBAY)(YHOO)

Sad_clownGeneral Growth Properties (GGP) S&P cuts ratings on growth concerns. Falls to $7.25 from 52-week high of $57.84.

Mosaic (MOS) Fiscal quarter earnings miss mark. Drops to $39.50 from 52-week high of $163.25.

Potash Corporation (POT) Fertilizer company hit by downgrade and falling grain prices. Plunges to $93.65 from 52-week high of $241.62.

Coeur d’Alene Mines (CDE) Analyst downgrade. Sells down to $1.11 from 52-week high of $5.18.

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Posted on: October 2, 2008 – 3:00 pm in HI/LOW, , , , , , , ,

Oilfield Services Stocks Still Headed South? (FWLT, NOV, SLB, WFT, BHI)

Oil_well_logo_2Less than a month ago, we published a story on oilfield services companies and how their stocks had fallen along with the price of crude. Their stocks should be doing better considering the services business should hold up much better than the raw price of crude. Since then, stock prices have fallen even further, and again, for no apparently good reason. Sure, crude oil prices have fallen more than $5/b since August 20th,but orders for new rigs are strong, day-rates are essentially atall-time highs, and the major players are able to fund new constructionout of cash flow, with cash left over to buyback stock or liftdividends.

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Posted on: September 10, 2008 – 9:42 am in Oil & Gas, , , , ,

Oil Services Better Insulated Than Most Energy Sub-Sectors (RIG, DVR, PDS, WFT, NOV, BJS, BHI, BAS, HAL, SLB, SII)

Oil_well_logo_2_2Oil Services are deemed by many market pundits as being more insulated than integrated oils, refiners, and other sub-sectors of the energy sector for oil and gas.  While these frequently move in-line with oil prices and with the sector, they are expected to have much more stable earnings than counterparts elsewhere in the sector.  Many of the oilfield services shares are down nearly 20% or more along with a major drop in oil prices. Transocean’s shares are holding at less than 1% down from 52-week highs, probably on the strength of the company’s bookings.

Transocean Inc. (NYSE: RIG) has given back nearly one-quarter of its value from its highs.  The worst performer among the larger players was CalDive (NYSE:DVR), down 43% from its 52-week high. Precision Drilling Trust (NYSE:PDS) is down about 30%, Weatherford (NYSE:WFT) is off about 27%, and National Oilwell Varco (NYSE:NOV) and BJ Services (NYSE:BJS) are down about 25%. A host of others are off around 20%: Baker Hughes (NYSE:BHI) at 22%; Basic Services (NYSE:BAS) at 21%; Halliburton (NYSE:HAL) at 20%; and Schlumberger (NYSE:SLB) and Smith International (NYSE:SII) are off about 19%.

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Posted on: August 20, 2008 – 11:17 am in Oil & Gas, , , , , , , , , , ,

Ken Heebner & CGM Stick With Commodities (CNX, BTU, FCX, PBR, HES, SLB, WFT, X, CGMFX)

While many funds and money managers are under watch, Ken Heebner and the investments in his CGM FOCUS FUND (CGMFX) are perhaps more closely watched than any other in today’s current market.  Some may love Warren Buffett and his no non-sense approach, but Ken Heebner actually has a better track record since inception and he is known for blowing out of sectors when he feels he should or can.  In fact, you could almost think of the FOCUS FUND as being run more and more like a hedge fund with very loose guidelines on which stocks he can or can’t pick from.  The fund also noted about 14% of the total assest that were sold short, so he does make bets against sectors as well.  As of June 30, Heebner was still extremely focused on the commodity and global growth stories.

We went through to look for his positions in the Focus Fund that are worth more than $500 Million.  Keep in mind that several other positions were just shy of the mark, so the overall values and holdings are better compared down further on at the full list.  Here were his top holdings in the CGM FOCUS FUND:  CONSOL Energy Inc. (NYSE: CNX), Peabody Energy Corp. (NYSE: BTU), Freeport-McMoRan (NYSE: FCX), Petroleo Brasileiro S.A. (NYSE: PBR), Hess Corporation (NYSE: HES), Schlumberger Limited (NYSE: SLB), Weatherford International (NYSE: WFT), and United States Steel Corp. (NYSE: X).

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Posted on: August 15, 2008 – 10:19 am in Financial Stocks, Mutual Funds, , , , , , , , ,