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Author: PhilWeiss One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2794  
Subject: Is Anyone Out There Date: 3/1/2007 3:27 PM
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I was just poking around the boards looking for some info, and I thought I'd post and see if anyone that used to follow along on this board was still out there. Let me know if you are.

Lots have been going on in my world. We had our fourth child this past May (our first girl), and I also left T. Rowe at the end of June. I'm now working as an analyst covering the energy sector. The sector is one I hadn't followed that closely before, but I'm really enjoying what I'm doing and am learning a lot at the same time.

I hope to hear from some of you soon.

Phil
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Author: JeanDavid Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2781 of 2794
Subject: Re: Is Anyone Out There Date: 3/1/2007 3:29 PM
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I was just poking around the boards looking for some info, and I thought I'd post and see if anyone that used to follow along on this board was still out there. Let me know if you are.

Here I'm.

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Author: 1poorguy Big funky green star, 20000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2782 of 2794
Subject: Re: Is Anyone Out There Date: 3/1/2007 6:17 PM
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I'm here too.

Energy sector? Guess which stock I bought recently. You can tell by the precipitous drop it took. PTR.

1poor(er)guy

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Author: TMFSelena Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2783 of 2794
Subject: Re: Is Anyone Out There Date: 3/2/2007 6:00 AM
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Welcome back, Phil! :)

Selena

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Author: rrockw Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2784 of 2794
Subject: Re: Is Anyone Out There Date: 3/2/2007 10:58 AM
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Still around - happy to hear things are going well for you.

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Author: PhilWeiss One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2785 of 2794
Subject: Re: Is Anyone Out There Date: 3/2/2007 12:52 PM
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Glad to see there are at least a handful of folks that still have this board on their favorites. Available time can be a challenge these days, but I'd like to see if I can get some discussion going. I've been having an ongoing discussion with someone I came into contact with through a mutual friend about the energy sector and am really enjoying it. The discussion made me think it might be a good time to get things going here again, too.

As for energy, I never thought that would be my area of focus, but with all that's been going on, I'm finding it a great sector to get to know and understand better. I've been surprised to find that there are some companies in this industry that I think have competitive advantages and can successfully navigate the waters of the commodity markets that impact them.

My approach is value-based, and I use my accounting background as an important element of my analysis. I incorporate some off-balance sheet items when looking at debt and also include some measures aimed at uncovering earnings management. I recently read Business Fairy Tales by Cecil Jackson and found it to be one of the best books I've read on this topic. The thing I liked the most was that the book discussed ways to uncover the manipulation, which most books don't touch on. Many of these were already in my toolbox, but there were a few new ones, too. I've only been in my current role for eight months, so I haven't finished incorporating everything into my analysis.

I work for Argus Research, so you can see my reports on Schwab and Fidelity. Right now I'm able to work out of my house, which provides a lot of advantages when you have a family with four children -- it gives me the chance to be more involved in their activities.

To the extent I can I'd like to open up discussion here to the energy sector, accounting-related issues, value investing and, of course, the principles of Philip Fisher.

That's about all for now.

Phil

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Author: StuyvesantGrad70 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2786 of 2794
Subject: Re: Is Anyone Out There Date: 3/4/2007 12:11 AM
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Phil:

Welcome back. Any thoughts on gas and oil services company, BJ Sevices Co. (BJS)? Here is a very intersting thread:
http://boards.fool.com/Message.asp?mid=25208359&sort=whole#25243746
The thread includes a quote from the Argus Research Report. Argus says the stock is trading at rock bottom valuation and rates the stock a buy, with a 12 month target of $50, or almost double the current price of about $26.00. Argus says the demand for the company's services will remain strong for the rest of the decade. The Argus report says the stock price decline is not warranted, since quarterly earnings increased 47% year over year, with margins among the highest in the industry.

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Author: PhilWeiss One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2787 of 2794
Subject: Re: Is Anyone Out There Date: 3/7/2007 11:45 PM
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I know the analyst that covers BJ Services likes the company's prospects, but it's not one I cover, so I can't really offer a meaningful comment. Of the 24 companies I cover six are services companies but mine all market various rig types, which is not what BJS does. I think the industry has some good investment candidates. My favorite services company is Helmerich & Payne, which is a small-cap. Today, the company announced it will be adding two more rigs to its fleet (making a total of 75 new rigs since 2005) and moving into the Calfornia market for the first time.

Here's an excerpt from my investment thesis:

U.S. gas drilling activity has experienced some recent weakness. However, HP's rigs reduce drilling time per well, can move more quickly from well to well, and can drill with increased precision and measurability. Thus, even though HP charges premium day rates,
users of its FlexRigs can significantly reduce their total costs per well, giving HP a competitive advantage.

Phil

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