Finding Safe Dividends In The Unloved Contract Drilling Services Industry
Published Mar 23, 2015 on Seeking Alpha

Falling oil prices over the last six months have caused virtually all oil and gas company's stock prices to fall. The contract drilling services industry has been hit especially hard. The table below shows the market cap and six-month price decline of the publicly-traded drilling service providers: TickerNameMarket Cap6 Month Decline HPHelmerich & Payne$ 7,340.00-33% RIGTransocean$ 5,420.00-56% ESVEnsco$ 4,930.00-52% SDRLSeaDrill Limited$ 4,860.00-68% NBRNabors Industries$ 4,330.00-45% DODiamond Offshore Drilling$ 3,800.00-25% NENoble Corporation$ 3,320.00-42% PTENPatterson-UTI Energy$ 2,620.00-45% RDCRowan Companies$ 2,320.00-30% ATWAtwood Oceanics$ 1,820.00-35% PDSPrecision Drilling$ 1,730.00-48% UNTUnit Corporation$ 1,340.00-57% SDLPSeadrill Partners$ 1,170.00-60% RIGPTransocean Partners$ 937.00-47% PACDPacific Drilling$ 859.00-57% ORIGOcean Rig UDW$ 832.00-62% PKDParker Drilling$ 406.00-40% PESPioneer Energy Services$ 312.00-66% NADLNorth Atlantic Drilling$ 289.00-85% SSESeventy Seven Energy$ 161.00-87% ICDIndependence Contract Drilling$ 149.00-47% PGNParagon Offshore$ 115.00-80% VTGVantage Drilling$ 104.00-79% HEROHercules Offshore$ 89.00-81%Source: Data compiled by authorWith declines ranging from a low of 25% (Diamond Offshore Drilling) to a high of 87% (Seventy Seven Energy), the drilling and contract services industry has suffered greatly over the last 6 months. With steep declines comes opportunity for dividend growth investors, however.Whether we're talking... Read more