07-24-2015, 08:12 PM
(07-24-2015, 05:04 PM)Dividend Watcher Wrote: I'm long too. Yes, their getting hammered just like most other oil service companies. Beside the juicy dividend and reinvesting averaging you down, here's some other points that salve the wounds for me:
- Debt level is still lower than most competitors
- HP has the AC drive patented Flexrig which by most accounts is the most efficient drilling platform.
- Their latest quarterly report re-emphasized their capital investment in further development in steering mechanisms for horizontal drilling (also one of their key selling points).
- Over 40 years of dividend increases. Yes, I know it's not the same between pre-2012 and now but management still should be jealous of their record.
- The business has been an ongoing concern for over a hundred years. You think they've learned something about how to survive the bad times.
Great points! It looks like a screaming buy at this level.