This article originally appeared on The DIV-Net on January 22, 2014.



As you can see, HP’s primary focus is on U.S. land rigs.
Here’s a different look at HP’s global rig fleet growth:





Finally here’s some of their metrics I’ve taken from Morningstar/E*Trade/S&P Capital IQ

With HP sitting near their 52-week high, I’m inclined to add to my ESV position. I’m also more interested in the international exposure and future EPS growth.
Disclosure: Long ESV and I added another 100 shares after the article.
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Thanks for the informative analysis. I looked into Ensco a lot before buying and I was waiting for HP to hit $80 before having an indepth look at it. I am thinking of going overweight ESV should shares fall to $47-$48 and then selling a few shares when they rebound. I am considering the same strategy for TGT. I just hope neither of them turn out like my investment in TEVA where almost 3 years later the share price is hovering around my purchase price (i.e. I bought in too soon).
Hi ADY,
I think you really brought the company to my attention with your first purchase. I like what I see and it’s now yielding 6%! I’m with you on averaging down, I would buy another 100 block at those prices. TEVA rebounded nicely but you’re right, it took years. I have also been averaging down on TGT and will keep buying as it goes lower. I own TEVA also but at a lower basis. The CopaxOne patent expiration has been holding them back but I love the generics business. I think they will turn out ok.
Take care!