ValMars
Bullish
now
$RIG The current stock price makes no sense given where oil is and more importantly, the extremely bullish outlook for oil. At a very minimum, RIG should be a 12+ stock right now, but it appears that there is total lack of any institutional interest (ESG etc). I expect that to change soon because institutional money always flows to where the returns are the highest and as of right now, that is fossil fuels. As new wall of money hits RIG, it should trade up to a more meaningful base in low double digits from where it becomes a show-me story (new contracts, higher day rates etc which should happen over time, assuming oil doesn't collapse back into the 60s).
1